www.iva.co.uk

hi i completed my iva in nov 2010,just checked my credit reportand there is sttill 2 accounts not settled,one with santander and one with max recovery,how do i get this sorted

Hi,

Any adverse reports will remain on your file for 6 years from the date of IVA acceptance.

You can write to those companies enclosing a copy of your completion letter and tell them to remove any defaults after the date of acceptance.

the one from santander still has a balance outstanding

Then you need to tell them to remove that balance as well.

I recently wrote to all creditors with a copy of the completion cert and ask them to make amendments. We have gone from showing £73000 in debt to £15000 in a matter of days as they all action my letters. The ones that are left still showing are just about to be sent a second letter !

Max recovery have written to me and basically said that Eversheds deal with this and it will be done in 28 days.

Speak to credit expert - if you give them a copy of your completion cert they will mark your file against those records still showing incorrectly to warn people that the info is not correct

That's great advice luluj. Send off a copy of your completion certificate to the creditors in question Tristan and this should do the trick. If they will not budge you can ask for a notice of correction to be added to your file. Basically a note telling anyone who is looking that the information is not correct.

Why would you want to put a Notice Of Correction on the file James. You have a legal right to have inacurate data amended under the data protection act. Best bet if they refuse to budge is pass it all onto the Information Commissioner who can then force them to comply with the act.

do anybody know max recovery address details please

This is what I have found:

Max Recovery
100 Wood Street
London
EC2V 7AN

Hi
I would always advise leaving your credit file alone, allow the six year time rule to clear any adverse credit on your file. This is my personal opinion and others may not agree.
When you are ready to apply for credit do not use any creditor included in your IVA

Regards

Andy - i agree with you on not going back to a creditor for credit after your IVA. As both Company Act 1985 and Money Laundering regulations sates that Public Limited Companies "must keep accounts records for 5 + 6years (minimal) after accounts are closed."
In effect although your credit report may be completetly clear - Banks/company data may indicate otherwise

Hi
Yes and I have personal experience of companies holding records, and referring to these, far beyond the six year point
Regards

You can do nothing and hope that the creditors have got their default dates correct. Or you can take the bull by the horns so to speak and clear up your credit file yourself. Your IP will only supply a list of final creditors and maybe some advice but you have to do all the work.

When I worked in a bank many years ago, putting through loan applications we could see defaults on peoples credit files dating beyond the 6 years from the date of default. The worst I saw was a 10 year old default still showing on someones credit file, that application was declined even though the default balance showed zero.

So the banks must hold their own database as well as the data from the CRA showing the rolling 6 years.

Matrix - so prehaps trying to upgrade a "basic account " to a "normal account" with the same bank is NOT a good idea especially if they know about your previous IVA.

Only if they know about it and it is recorded on their computer systems.

I think the problem arises if you apply to a bank which was a creditor, or the bank credit check you whilst you are in a iva and those details are stored in the banks records seperatly to the CRA's.

Otherwise I would have thought you'd be ok after everything has dropped off at the CRA.