www.iva.co.uk

Hi!

Myself and my OH did an interlocking, full and final settlement IVA which was completed 11/2011. (Received certificates etc). I have just checked our credit file on noodle and have noticed that some debts included within our IVA are marked as settled but half of them still show as defaulted up to as recently as this month. Is this right? I've tried to search for info on this but all I could find was advice on how it would affect your credit going into an IVA.

Any advice appreciated on this as we are looking at leasing a car and aside from the IVA on file I thought the debts would show as settled as per the IVA agreement?

Thanks [:)]

Hi. Some creditors mark defaults settled, some mark them partially settled and others leave them as is. It makes no difference, as they don't do as much damage as having the IVA on file. When the IVA drops off the defaults will too, assuming they are correctly dated.

The important date here is the date of the initial default, the fact that they are updated every month is just that, an update, not a new default.

Have a peep here for background:
http://pjgrecovery.com/clean-up-credit-rating.asp

Thanks Foggy. The advice on that link is that if any debts included within the IVA still show as defaults after the final settlement date then I should notify the crediting reference agencies. I see what you are saying about it bring irrelevant until the IVA drops off our credit files anyway after 6 years but if I'd rather it showed correctly as everything else does. This particular default was our overdraft as it shows the same on mine too. We had a credit card with the same bank and this showed as settled immediately. I guess they all have their own rules.

Thanks again