I don't mind informing the credit agencies, but what does annoy me is that I have to do every one separately and they all hold different info on me!!! My credit score is also different depending on which one I look at, so it's pot luck, if ever I did want to to apply for credit again, which agency my potential creditor would look at!! In this day & age it should be just one agency that deals with everything. And why my 'IVA creditors' can't correct the default date automatically once my IVA was approved is beyond me. And while I'm on a roll (!!!)why do they only update once a month?? What are they doing the rest of the month?? [xx(]
I can provide some light on this matter and my experiences with the 3 CF' agencies. It can be positive,but varies on a person to person basis.
The whole credit reference system is shrouded in mystery and diverse considerations over their scoring criteria.
As most are aware,I finally got my FF certificate in late Jan 2014 and within 4 weeks,I now have cleaned up files shown with the three CF' agencies.
My Experian file credit score 967..now as I have 'no completed credit account', that limits me from the 1000 max score. This score is academic from a lenders point of view but the higher the better you could say.
I just did the credit card match thing on Credit expert to see how experian rate me and matched with bank criteria for there credit cards.I have 21 returns from the search with only one credit builder card showing - Aqua...the rest were very repectable low interest/platiumn cards from high street banks. I was pleased but have not gone for it yet.
I am with Experian on subscription and will stay with them.I didn't do Noddle as they give you a basic version of your file and want you to go with a subcription for the complete package.
Checkmyfile.com I am sticking to on suscription as it contains all Call Credit and Equifax data that I need to have.
On my credit files it has 4 debit accounts and a phone account and that is a the 'credit history' as the banks mark these as green,amber or red as they would if a loan was been paid off every month.
The credit builder cards can technically increase your score but I do not think it makes that much of a difference unless it you have a below average score.
So, I am saying that you can have a restored credit file after an IVA,it will get better with time.
Only with a car or home loan would the past iva surface, but then you have specialised broker for that for now,then return to mainstream lender later.
There is hope and a restoration to a perfect credit file.It is based on personal circumstances.
I have never known such a complete and complicated shambles this all is !!!
just reading your last post has depressed me a little with the insight into how this all works.
I am certain it is set up this way to make it really hard for people to get credit and get refused if they even have wrong information or the slightest blemish!!!
Yes, I agree and we just have to play the system before us.
The Sun had a story column today on this very subject.
People on low credit rating had to fork out more on loan rates.
The answer given to avoid the higher charges was to play by the credit agency's game.
It really is a stick the boot in situation when there are millions of people who have either had to endure Bankruptcy or go the HONEST!!! route and go for an IVA which incidentally means you are paying a substantial portion back and doing so for 5 - 6 years only to now get this
other obstacle to endure
I mean a £100 pound credit limit card and turned down so WHY!!! flag it up Experian telling me this is the card I can apply for!!!!!.
Now it is on my search history and back to square one so as far as im concerned Experian are giving False Recommendarions
It really is a stick the boot in situation when there are millions of people who have either had to endure Bankruptcy or go the HONEST!!! route and go for an IVA which incidentally means you are paying a substantial portion back and doing so for 5 - 6 years only to now get this
other obstacle to endure
I mean a £100 pound credit limit card and turned down so WHY!!! flag it up Experian telling me this is the card I can apply for!!!!!.
Now it is on my search history and back to square one so as far as im concerned Experian are giving False Recommendarions
I am going to raise this at the next DRF board meeting, as the trade association may well have some weight with which we can tackle the CRA's about how issues post-IVA are treated. My co-director in my other trade association, APDSI, is an industry expert on credit agencies and credit repair, so if anyone wants to e-mail me directly and share their post-IVA experiences and frustrations, I will collate these and see if I can arrange to meet with senior executives at each one to see what can be done. The more adverse feedback I receive, the more weight the argument I bring will have.
So sorry you are experiencing such a poor service right now Andrew. Your conduct during your IVA was impeccable, and you don't deserve to be still left with feelings of despair about your treatment. As you say, you don't want to borrow money now - simply get your credit rating straight again. Let's see if we can work together on this, and bring about some change to the industry.
Glad you are going to raise this Melanie.
I am not after going down the credit route and borrowing like mad!!!
All i am trying to do is like many others on the forum who have completed there IVA's and gone past the 6 year mark is try to remove any defaults or information which should drop off my file from all the credit reference agencies but the trouble is that is all very complicated in that you have to subscribe just to get anywhere and what one has on you the other ones do not and is just a mixture.
also i just wanted to get a very basic High Interest Credit Card with just a £100 credit limit just so that i can rebuild my rating for the future and you cannot get past the start line.
Experian Have Nothing on Me
Call Credit have nothing on me
Equifax have me as not on the Electoral Roll which i am and have been for 8 years and a default which should have dropped off ages ago so this is most probably why i was refused but now have to contact and sign up with them to now go through it all again and get the information corrected and i have to pay for it!!!
Anyway Thanks for the Support Mel!!![:)]
I can only sympathise Plasticdaft!!!
I know in reality I am just over the 6 year mark abut silly things like on two of them I am on the Electoral Roll and one of them I am not is just ridiculous!!
Also one has a default which should have dropped off ages ago but the other two agencies have me as clean.
Its so frustrating that the whole system needs to communicate and buck there ideas up !!!!
I remember my first dealings with equifax 20 years ago. The bank wouldnt give me a loan and handed me an equifax leaflet. I wrote a letter and back came my credit file 7 days later with an entry for someone at my address having defaulted on a credit card 5 years earlier. The names were very similar but different enough to know it wasnt me. That and the fact that I'd have been 13 years old when the account defaulted and 9 when the account began!!!!
To be fair it was quickly sorted and the bank sorted the loan out right away when I took my credit file into the branch and pointed out the error!
It is a bit of a minefield. No idea why there are 3 agencies all with differing information. Just seems to complicate matters.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
