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Posted: Mon Oct 13, 2014 1:28 am
by nervousperson
Hi,
Entered IVA in early 2007, exited successfully early 2013.
Just going through my credit reports and found a "Partial Settlement" from one of my lenders in mid-2013.
Should this appear on my file? I thought all accounts should have dropped off by now..is it right they can put a partial settlement on my file months after exiting? I thought the file updates should have stopped upon the date of default (nearly 8 years ago now).
Cheers!!
PS Looking through it as thinking of extending and need to sort a fresh mortgage...
Posted: Mon Oct 13, 2014 3:13 am
by luluj
Have you received your completion certificate? If not your credit report will continue to show things.
Ryan, from Zebra Money, is a good option for a discussion on mortgages. As one of two brokers on the forum he has access to many mortgage products that will be able to help your circumstances. He comes highly recommended ...contact details on the left under "ask the expert a question". Shaun is another option.
Posted: Mon Oct 13, 2014 4:03 am
by nervousperson
Yep - completion certificate received prior to the lender providing this update...in fact, I assume it's the completion that's caused them to provide an update...
Posted: Mon Oct 13, 2014 7:48 am
by Foggy
Is it an update of an old default or have they entered a new default ?
See here for general clean up info:
http://pjgrecovery.com/clean-up-credit-rating.asp
Posted: Mon Oct 13, 2014 8:03 am
by nervousperson
Well.... I hadn't opened a fresh account with that lender... It's an update on there original account...
Posted: Mon Oct 13, 2014 8:05 am
by nervousperson
That FAQ doesn't help....
Posted: Mon Oct 13, 2014 8:06 am
by plasticdaft
Whats the default date on the account? If its after the date the iva started you can tell them to remove it.
Paul
Posted: Mon Oct 13, 2014 8:14 am
by nervousperson
No default date shown as far as I can see but the account shows as running until a point in 2013....
Account type
Credit Card
Account number
*********
Account start date
XX/XX/2001
Account end date
XX/XX/2013
Payment start date
XX/XX/2001
Repayment frequency
Monthly
Status History:
April 2013:
May 2013: PS
Jun 2013:
Surely the account end date should have been the default date back in 2007?
Posted: Mon Oct 13, 2014 10:07 am
by Ryan
Hi,
This is a common problem, as not all lenders actually register the account in Default. So will then show as PS on the settlement date.
Depending what they were showing before, if just late payments then you should still be able to obtain a mortgage.
I would be happy to look in to this for you if you would like to get in touch.
Posted: Mon Oct 13, 2014 10:28 am
by nervousperson
Ryan,
Thanks for your reply.
It's showing as partial settlement. Didn't even appear on my credit report the month before that date...
Will give you a shout shortly on the mortgage.
Posted: Mon Oct 13, 2014 10:57 am
by Ryan
Hi,
Is does not surprise me, the credit reporting companies are not great, and the data that is on then is very rarely correct.
Happy to look over them for you i you email then over.
Whenever your ready for the mortgage!
Posted: Tue Oct 14, 2014 11:32 am
by Shaun Vickery
If the debt is included in your IVA then the default should no longer be showing on your credit file. In order to give yourself the best opportunity when it comes to applying for a mortgage I'd recommend writing to them with the details and asking them to remove it. It's normally quite a straight forward process but it might take a few weeks.
Posted: Thu Oct 16, 2014 1:17 am
by nervousperson
OK; second question - who within that organisation do I need to contact?
Posted: Thu Oct 16, 2014 8:50 am
by Shaun Vickery
If you have a copy of your report it should show the addresses of any relevant contact points at the end. If you need any help email me a copy of your full report to
shaunv@equity-online.co.uk Bear in mind also that you should check all 3 credit reference agencies to make sure they are all correct.