www.iva.co.uk

I just receivd my 'Certificate of Completion' from Grant Thornton and I was wondering what to do next to sort out my credit file? - I am very wary of 'trusting' the creditors to just update my credit file with Experiean, Equifax, etc....
Anyone can share their experiences and perhaps offer some guidance on what todo next?
Thank you!

Firstly I would like to congratulate you on completing your IVA. Now then, credit files. Contact each of the 3 credit agencies either online or by post requesting a copy of your credit file. Any defaults that appear should be dated no later than the date of the IVA agreement (ie creditors meeting when IVA accepted). Remember none of these defaults will drop off until 6 years from the date of default. If your default dates are showing as after the commencement of the IVA, then you need to write to the creditors concerned (data control department) and ask for these to be amended to the date of your IVA commencement, that way they will then drop off at the 6 year point. It may take a few weeks for your IVA to drop off after the 6 year point. Check the insolvency register in a couple of days as your IVA should fall off there pretty soon. Sometimes correcting credit files can be a pain in the proverbial backside, but do persist. Good luck.

We sent a letter a copy of the certificate to all our creditors asking them o amend there files and show the debt as settled.
We also sent a copy to the three credit agencies and they added a note to our record to show satisfied.
The insolvency service were quick to remove us from the list and they also notified the credit agencies.

Congratulations on finishing from me as well. Can't add anything to the advice already given above.

Hay Jeile

Head over to this section of the forums http://www.iva.co.uk/forum/forum.asp?FORUM_ID=183 where there are a few really good explanations of what to do next, how to clear up your credit file, what to do if the creditors wont update it, information commissioner info and best of all great template letter by The Matrix you can nice, adapt and send!!

Hope this helps
Arty

Hi! Congratulations on completing! Enjoy x

Congratulations #128515;

Congratulations Jeile. I have received my CC from GT last month. The only thing I can add in additional to what the others have said is that I applied for a Vanquis credit card on Monday and have been approved. My IVA and defaults will still be on my file until Nov 12. It is a high APR but if you pay the balance off every month then that doesn't matter. I will be using it to do exactley that. What it will do is start to improve your credit rating, although this will not significantly improve until after the 6 year point when your IVA and defaults drop off, at least when this happens I will already have several months showing a clean record from Vanquis rather than nothing at all.

I would never personally recommend to anyone on here to get a credit card, it is a personal choice. You need to be sure that you will be able to stay in control of your spending and not end up in the same situation that put you here in the first place. That said I think the majority of people who have been through an IVA have learnt a harsh lesson and would never allow it to happen again anyway.

All the best x