When my defaults have dropped off my credit file will I see my credit score rise ?

[npowell28]

Hi Guys, My iva was agreed 24th Jan 2008 so should drop off my credit file in 12 days. I have 3 defaults on my credit file all which should drop off in the next month. I'm desperate for a new car as my 16 yr old rover is falling to bits.

My question is this, when they are all removed am i likely to see my credit score rise and where should i go to get a loan. I have a credit card which i have paid on time for the last 6 months. I have a mobile phone contract and normal utility bills.

[mazbrown]

Hi and welcome to the forum .you should see your credit get better , let us know how u get on , I'm im the same position and would like car finance in November .

[npowell28]

Thanks for the reply. My call credit rating is 417 and my equifax is 438. I have 2 accounts with defaults and the iva that will disappear 31st Jan 2014 and a further account with a default that comes off 14th feb. We'll see. I will update

[Shining]

I am in a similar position trying desperately not to wish time away but it's getting closer to when my defaults should disappear from my credit files, written two letters today as the first ones were ignored in respect of changing a default date but I'm getting there. All the best.

[npowell28]

Ok Call credit rating has gone up from 1 out of 5 to 3 out of 5, Equifax is showing excellent at 838(not sure how with a default and iva still on there), not sure about experian one.

[npowell28]

correction to the above. My Equifax score is 511 which according to thier site is an excellent score. Again still can't understand that as there is a default and iva still on there. They should be off by the middle of february though.

[plasticdaft]

Dont get caught up worrying about actual scores. What you need is no defaults on there, no iva mentioned and as many positive payments for mobiles, mortgage etc as possible.

time heals all.

Paul

[luluj]

Credit scores mean very little ...most lenders have their own criteria and do not refer to scoring at all.

[Shining]

I've just one default date to correct with Noddle, other two agencies for same creditor showing correct default date is this common?

[npowell28]

Mines the same. My IVA was agreed jan 24th 2008 but i have 2 defaults which don't end until may and july this year. That can't be right surely. They are part and parcel of the same IVA???

[Foggy]

No npowell, the creditors are obliged to date defaults on loans in the IVA on or before the start of said IVA.

Have a look here, the download has a template letter:

http://pjgrecovery.com/clean-up-credit-rating.asp