I've finished through a F&F in May and have just checked my noodle credit report.
My three loans are showing as closed and partially settled (these were the big ones) and I have four small credit cards still showing as open and being updated monthly and are in default. So my question being, will these be adventually updated and closed or will they still stay open and defaulted untill the six years is up?
Kind regards on a sunny Sunday morning
Loved Money, Hate Credit, Road to Recovery.... IVA started 3/3/14 -- IVA F&F accepted 18/5/17
Hi. I am afraid it can go either way, depending upon how the creditors report to the agency but it isn't really of any great matter -- your score will be trashed while the IVA is on file and little else will alleviate that. At the 6th anniversary, however they are marked, the defaulted accounts will disappear. The main thing is to make sure they are defaulted and they show the default date as being on or before the IVA start date.
wait until the 6 years is up - if they don't drop off then contact the creditors direct to update their records and get the defaults backdated to the start of the IVA.
Agree you will have to hang on - just keep an eye on things.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
