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Posted: Thu Jan 22, 2009 10:13 pm
by nickb22
how long does an iva stay on credit report? is it six years?
Posted: Thu Jan 22, 2009 10:14 pm
by kallis3
Hi and welcome.
You are correct - it stays on for six years from the approval date.
Posted: Thu Jan 22, 2009 10:16 pm
by james.c
heres the question, does it actually state an IVA on your credit file, or just shows defaults, after all it takes 6 years for a default to come of
Posted: Thu Jan 22, 2009 10:32 pm
by MelanieGiles
I'm pretty sure it refers to an IVA - but Storm is bound to be able to confirm this properly.
Posted: Fri Jan 23, 2009 11:50 am
by kallis3
I think you are right Melanie. Your record can show defaults as well as the IVA.
Posted: Fri Jan 23, 2009 11:52 am
by Skippy
My credit report refers to my IVA and BR and the defaults show in each individual entry.
Posted: Fri Jan 23, 2009 1:37 pm
by hammer1
Yes your defaults show separately in each case with your bank/credit card/loan etc.
Then another part will have your IVA details.
In my case I entered a DMP first for a bit and my defaults on some of my cards show starting a year before I started my IVA. So they will fall off my credit report this year and my IVA and other credit card will fall off next year.
Posted: Fri Jan 23, 2009 2:08 pm
by Storm
The credit report will show defaults togther with any Insolvency information.
There is still a major issue with post IVA credit report information.
Typically it takes longer than the 6 years to clear all entries. For example defaults show for 6 years from the default date not the date an IVA was agreed.
Posted: Fri Jan 23, 2009 2:17 pm
by kallis3
If the defaults have been put on there after the IVA has been approved, aren't the creditors supposed to remove them if you request it?
Posted: Fri Jan 23, 2009 2:25 pm
by Skippy
That's what happens after BR (unless Tesco are one of your creditors!) but I don't know about an IVA. I would have thought it should be the same...