I am in my last year[:D][:D][:D][:D]of my IVA,finally receiving my annual report for the 5th time. Looks like I will pay 56p in the £. My question is I started my DMP in 2003 and did not move into a IVA until 2004. It will be 6 years since my DMP started, so will that count on my credit rating and will they fall off my account this year or will it of started again in 2004 when I changed to a IVA, then it will be next year??????
Not sure what happened but I am all paid up and finished...they even owe me money now ))
The credit rating will be shot for 6 years after your IVA started, not your DMP.
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
The defaults will drop off your credit file 6 years from the date you are defaulted but the IVA will still be showing on your credit file for 6 years from the date of your creditors' meeting.
Also, if any of your creditors continued to default you once you are in an IVA, the defaults will show from 6 years from the date they were issued, regardless of the date of your IVA. e.g. IVA 1st March 2004, default 1st December 2004. IVA drops off your credit file 1st March 2010, default 1st December 2010.
I think you can ask the creditors to remove those defaults FD.
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
I know when you are bankrupt creditors aren't allowed to default you after the date of BR and have to amend your file (even Tesco, who don't recognise BR!), but I'm not sure if they have to remove them if you are in an IVA. I think I've seen Andy post about this before, so perhaps he could confirm?
))
