www.iva.co.uk

Hi,

I completed IVA recently and just ensuring defaults are registered correctly, just checked my credit file and noticed that though one of my credits has marked the account as satisfied they have added a 'special instruction' which states the account is 'partially satisfied' and underneath that has a start date for the 'special instruction' as July 2011. What is a special instruction and how long does it stay on file for??

Thanks

Hi Red - not sure of the answer I'm afraid but just keeping this bumped up for someone who knows the answer

I've not heard of that before - as far as I am aware there should be nothing on your file now post IVA acceptance.

Write to this creditor enclosing a copy of your completion letter and telling them to remove this entry. You have fulfilled your obligations.

Thanks.
I have written to them already the with completion letter attached and that's when they marked it as satisfied but also with this additional info. I understand that my defaults will not drop off until 2013 when it would be 6 years from the start date of my IVA, I just hope this ' special instruction' drops off at the same time. I will try to find out what it means via the credit reference agencies!

Hi i don't think it is anything to worry about it's just a marker some agencies call it a partial settlement marker. I have them on my files and it just states partial payment made to settle the debt although this would not have been enough to cover the original agreament or words like that.

It is standard, nothing to worry about. All it is saying is that the default has been settled, but you did not pay the whole debt off.

Max Recovery have marked all of my old debts in the same way.

The default will still drop off 6 years from the original default date.

Just make sure that the default date is before or the same as your IVA agreement date.

The current balance is marked as Satisfied.

The IVA is marked as completed on your credit file.