www.iva.co.uk

Hi Everyone, I have come for a rant!

My IVA started on 30/1/06 and therefore should of dropped off my credit file yesterday. I have just bought my Equifax report online only to find (suprise suprise) that the IVA has disapeared from the court judgement part but it is in the "Notice of Correction" part. Also the Northern Rock loan I had has the default date set at 30/01/06 and that is still showing on there. I have spoken to Equifax who said I need to log onto their website and query this. I am now starting to panic that for some reason these won't be removed as soon as I thought. Are the settled dates or the dates the information is updated likely to effect when these will be removed? I thought that they would automatically drop off on the 6th year anniversary of the start of my IVA? Or is it that I have just applied for the credit report too early and it is likely to be removed within a couple of days?

This is what iot says under the notice of correction part:

IVA DATED 30/01/2006 WAS REMOVED FROM THE INSOLVENCY SERVICE RECORDS ON 21/04/2011. ADDED BY IVABKYLD ON 21/04/2011

Date Registered: 21/04/2011



It's one thing after another with these! [:(!]

You should have asked for that notice of correction to be removed from your credit file. Trouble with these notices they can hang around long after the bad data has been removed as you have found out the hard way.

Log into Equifax and raise a query to have it removed, it should take them no longer than 28 days, but my dealings with them are that they are very slow to react compared to experian.

Settled dates have nothing to do with when the defaults are removed. It is taken from the Initial Default Date which if that is shown as 30/01/2006 then the record should have been removed yesterday from equifax. I'd call them and insist it is removed as been the full 6 years since it was registered.

Thanks TheMatrix. I have spoken to Equifax and they have told me to raise a dispute online which I have done. Hopefully I should hear back sooner rather than later although judging by peoples comments online they are incredibly slow in responding. I wish they would just do it over the phone.

I would be tempted not to bother with notice of corrections,as Matrix says they can hang around for longer than you want,although I believe as soon as you ask for them to be removed they should do so quite quickly.

Paul

I have been looking online and people are saying that Equifax automatically move your IVA from the public notice section to the notice of correction section and you have to ask them to remove it which they have to.

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Vicki.29

I have been looking online and people are saying that Equifax automatically move your IVA from the public notice section to the notice of correction section and you have to ask them to remove it which they have to.

Not sure why they would move it to the notice of correction but people will have to sort out their credit files anyways so hey ho.

Paul

They did it with me too, just I was on the ball with it when I noticed the correction notice when they put it on.

They're the only CRA to do this, annoying isn't it?

Hi

This may happen if you send in your completion certificate.

My advice when you are coming to the end of an IVA is to do nothing, allow the six year rule clean up your credit file. The only exception would be defaults registered well after the start of the IVA, these need to be challenged and corrected

Regards

If you do that it's always best to check your files to make sure that it is marked as completed as the 6 year rule for IVAs to drop off only applies if the IVA is marked as completed.

Exquifax are saying that unless you ask them to remove the IVA from the Notice of Correction part then it will stay on there indefinitely and I don't want that as I am trying to clean up my credit file. The two other agencies have been no problem at all.

Hi

I just wonder why it is in the notice of correction area ?

My understanding is that the IVA will fall off your credit record after six years, completed or not completed. It will however stay on the Insolvency Register until concluded by your IP

Regards

Not at all an IVA can stay on your credit file for longer than 6 years in the event that the IVA is not marked as completed. This is because, rare as it may be, a IVA can last longer than 6 years.

Quote from the Experian Website - http://www.experian.co.uk/consumer/credit-and-iva.html

"An IVA will appear on your credit report for a minimum of six years from the date of arrangement, and longer if the arrangement lasts more than six years. During your IVA, reputable organisations will certainly ask for information about your situation and will probably refuse to give you further credit."

Equifax policy is now to add a notice of correction when you complete an IVA. Even of you never ask for it. It will stay on indefinitely unless you request it's removal. Not only do you have to request its removal but you have to state your reasons too. Be clear that the information is out of date and as such it's removal is necessary. They removed mine within 14 days and sent another copy of he credit report free.

This is why it's a good idea to start cleaning up your file as soon as the IVA is done. It's a sneaky move by Equifax to put on these notices of correction without the consent of the individual but they are well within their rights to do it. Probably a way of selling more credit checks!

Equifax are notoriously slow at removing items. If you have logged an online dispute you have done the right thing. You will probably have received two automated emails stating they are now looking into it. I had to log online disputes to get all of my default files removed, but generally they were sorted within 7 days of raising the dispute.

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Andy Davie

My understanding is that the IVA will fall off your credit record after six years, completed or not completed. It will however stay on the Insolvency Register until concluded by your IP

I don't think it can be removed from the public notice area of the CRA until the Insolvency Registrar instructs the CRA to do so. Strangely, no record of my IVA ever appeared on Equifax (obviously most of the default accounts did) but it does (still) appear on Experian.