www.iva.co.uk

Hi All,

Just about to enter year 3 of iva and have offered a third party final payment, if this was to be successful would the IVA still remain on my records for another 3 years or so? Or would it be removed earlier??

Appreciate your time

Don't you believe me?[:D]
Your IVA would stay on your record for the full 6 years even if you complete early with a F&F. x

The iva stays on your credit file for six years from the day it started.
However the iva will leave the insolvency register 3 months after the iva is settled.

The register entry will depend upon when the IP sends off the notification to the Insolvency Service. Sometimes it can take quite a while if there are problems closing the IVA down.

Hi Harveya

As the other posters have rightly said, the record of your IVA having existed will remain on your credit file for 6 years from its start date. Your name will come off the insolvency register as soon as the insolvency service have been notified that the IVA has been settled and you are no longer insolvent.

What you need to do as well harveya is to contact all three credit reference agencies - Call Credit, Experian and Equifax once the IVA has finished to make sure that any defaults entered after the date of IVA acceptance have been removed.

Thanks all,

Really appreciate your time and response on my post.
Gives me a clearer picture of what I need to do If the Final Offer is accepted!!!

Thanks again!!

All credit data registered at the CRA's is registered for a rolling 6 years. Unless your creditor removes it

You could try to negotiate with creditors to have defaults removed if you offer a Full and Final, but they may not agree, in which case the best you can hope for is the correct default dates being registered and the outstanding balance put to zero.

The IVA is there for the duration though I'm afraid.

I wouldn't bother pushing it too much until the six years is almost up, then get the creditors to remove any defaults after the date of IVA acceptance.

You do run the risk, as I do with Santander, that if they have defaulted post IVA and passed the debt onto someone else, e.g. Max Recovery and they, as opposed to Max are updating the CRA's that they may not have a record of the account now that it's been sold on.

This one is going to be interesting for me clear.

For that reasons perhaps sooner rather than later is prudent in those situations.

They should have to clear it though - they will know from the completion letter when it started and finished.

They should, but I do get a bad feeling about this one.

Throw ted in the corner and stamp your feet! They have to clear any defaults after IVA acceptance.

With a certain satisfaction, I might add. [:D]

Definitely!