How often is the insolvency register updated ?

[welshwiz]

Does anybody know how often the insolvency register is updated?

[Pandy]

I believe it is daily, as some people come off it 3 months after there final date to the day, so they must automatically update, any reason are you expecting to be removed.

[Shining]

I would have thought frequently too as it's an ever changing database.

[welshwiz]

Yes had completion certificate 3 weeks and just wondering when we come off.

[Foggy]

I think it is updated overnight, every night (when working). I came off three months to the day.

[welshwiz]

Thanks. Will just have to keep checking and hope it doesn't take the full 3 months

[MelanieGiles]

I think that the Insolvency Service are doing a lot of work at the moment to update the register, if the number of queries I am getting about closed cases at the moment is anything to go on.

Entries should remain on the register for 3 months following the closure of a case - any earlier and it is a bonus.

[pavel33]

I must have been lucky as my entry disappeared within 2 weeks of my receiving my completion certificate in early June 2014.

[welshwiz]

you must have been pavel33, we got our certificate 14 June so will just keep checking and hopefully will come off shortly

[pavel33]

One associated issue I am not clear on is the matter of defaults to creditors. My credit report for last month shows that my accounts with the creditors included in my IVA are in default, as they have been every month since I entered my IVA. When are those defaults removed ?.

[Foggy]

Assuming they are correctly dated at the start of your IVA they will drop off on the 6th anniversary.

[pavel33]

But my credit record suggests that I've defaulted on a monthly basis right up to the present day, i.e. every month since I entered into my IVA.

[Foggy]

No, Pavel, that should be the original default being reported as still in default on a monthly basis. The date of defualt should be around the time your IVA started.

If not look here for advice:

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

[welshwiz]

Foggy do they not show that iva is completed and the account "settled" I thought it would register somewhere that the account was not still in default.

[Foggy]

Some creditors will mark it as settled or partially settled, some do nothing at all. It makes little difference, as long as that default date is correct. You won't get credit while the IVA is on there anyway and, as long as those dates are correct, it will all drop off, defaults and all, on the 6th anniversary.