www.iva.co.uk

I concluded my IVA and the final Chairmans report had been sent to all my creditors. My question is that I have found with almost all my creditors they have failed to update my credit files on receipt of the final report and I in turn have had to write to each one enclosing a copy of my completion certificate in order to get my records updated, how can this be right when they have already had this information yet have failed to act on this. The Credit Reference Agencies said they could not update these accounts eventhough I have the legal documentation to prove what I am saying, it's all one sided and wrong and extemely frustrating. With this experience in mind,is it not time to now have a change in legislation so that the individual has a lot more control over data that is held on a credit file rather than the creditor? how would everyone feel about getting involved in a campaign here as I'm sure i'm not the first person to experience this?

Hi
It is frustrating when creditors fail to update files, they are cerainly qiuck to update when there is any adverse info.
The only point that I will make is that the record of your IVA and the record of any account taht you had prior to your IVA "should" drop off your credit file a year after your IVA finishes and until that time you will find it almost impossible to obtain credit even if your file has been updated to satisfied.
Regards

Hi Andy,

Thanks for your comments here, yes you are certainly correct in the way creditors are quick to record adverse information, but obviously Principle 4 of the Data Protection Act does apply to inacurate data on your file, which I have already raised with the Information Commissioner's office as i have been insensed by this whole fiasco!!! I realised that any data whether it is a settled account or as you have already indicated my IVA will automatically come off my credit file after the six year period in line with the Limitations Act 1980. I don't have any plans to apply for any credit for a while after this experience and prefer now to wait and save!!!!I just want my records about my data to be accurate......