www.iva.co.uk

Guys I am really sorry about this but.....having settled my IVA with F&F 18 months in and the date of settlement given on the completion certificate and insolvency register, I wrote to the information controller for the creditors who were registering defaults.

I had a letter back from lloyds asking for a copy of the completion certificate and telling me they would remain on file for six years after the start of the IVA

SO, why am I told they should be removed after the start date of the IVA and not the hypothetical end date? Also, if Lloyds voted at the creditors' meeting to decide that the F&F was acceptable and they managed to record the start of the IVA correctly then why the heck can they not a) sort out the default or b) have it on a record somewhere that the debt is settled.

Thanks yet again, but I want to be completely sure before I start writing Snottograms here there and everywhere.

Grim

Defaults need to be removed back to the start of the IVA - Lloyds may need to see a copy of the completion but they have to remove the defaults.

Hi Grim. The default has to be DATED on or around the date of the start of the IVA. It will then stay on your credit files for 6 years from that date, regardless of what happens to the debt. The IVA itself should be marked on your file as completed.
The creditor will not remove the default and is not required to do so. However, they can mark it as satisfied or partially satisfied.
The status of the default is really of little importance as your credit record is totally shot by the reference to the IVA itself.
The important thing is to get the default dates corrected if they are wrong, so that the whole shebang drops off on the 6th anniversary.

Thanks, Foggy. This is what I was confused about as there seem to be different ideas about this.

http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=75299

As stated - the default has to go back to the start of the IVA. Anything after that they have to remove.

As Foggy says - get the default put back then the rest falls off after 6 years.

Each debt can only be defaulted once, the date being the breakdown of the contractual repayment agreement ( the date of the IVA). However they are reported as being still in default every month -- these are not new defaults, but reminders.

I still have some but can't be bothered to sort it out at the moment!

A couple of mine are a few weeks after the IVA start date, but I will let that ride.

I have one which is ongoing and I will get round to sorting it but don't need any credit at the moment.

So, let me get my head around this. I am looking at Noddle.

The Santander and Barclays ones show as a "closed" account and are marked "satisfied" from Nov 2015. The last red default on them are Nov 2015 when the IVA was closed; Dec 2015 and Jan 2016 show nothing.

However, Lloyds still shows as "open" account and defaults continue to get added on.

Why is there such a difference?

Sorry to be so stupid but I simply don't understand the difference between the first two and the last one.

I only have one showing as default, which is Direct Line and only on one credit agency.

Send off for the records from all three agencies (will cost you £2 a time) to make sure.

It is purely down to how the various creditors report to the agencies. Some stop reporting at all after a default is registered, others report the same default every month. The same goes for whether they report it satisfied, partially satisfied or closed. It is down to the creditors, not the agencies.

Agree with foggy totally ... creditors update their credit files periodically and there appears to be no timescale of it.
At the 6yr anniversary of your start date your credit files will start to clean up without any need for a push ..until then don't worry yourself over things i really is not worth the trouble of having to send this and that to individual creditors.

I have no defaults on clearscore but on noddle some are marked as defaulting every month,the six years is up on July 9th so will see what happens then

Thank you! It's cleared that one up in my head.