www.iva.co.uk

Post IVA question.

It will soon be 6 years since my IVA was accepted, I settled and was released from it 2 years ago. What are the steps I now need to take to get my credit score up?

I'm assuming that on the 6 year acceptance anniversary the IVA mark will be removed from my credit information. Am I correct in assuming that?

Your credit file should automatically clear up but your credit score is a different thing. If you have a mortgage for example this will show as will car HP payments, bank accounts, phone bills and the like. Effectively the good stuff will be still there but the bad stuff will be gone. If you have nothing then it may be worth getting a credit card and paying it off each month as no credit score is as bad or worse than having a poor one.

As Michael says, most of it should happen automatically and is explained here:

http://debtcamel.co.uk/repair-credit-record-iva/

The important thing is to check the default dates, which should be on or about the start date of the IVA. Also check for any Notices of Correction, which have to be removed manually.

Don't bank on all your defaults dropping off on the anniversary of the 6 year point, you will be dissapointed. Some will take a few days, some a few weeks and some you may have to chase up. All mine were gone within 2 months of the IVA start date, thankfully I didn't have the run around to chase up creditors. Give it until you get your second credit report from Noddle before you start to think about taking action over creditors who are being slow to get things updated. Don't be afraid to write 'snotty' letters to any creditor's who think the rules don't apply to them or think it is OK to start changing dates.

Keep.an eye on your default dates and ensure none of them are prior to the iva start date - if they are then I would contact the creditor now and ask them to be amended

You might find this quick video I made about cleaning up your credit record useful:

https://www.youtube.com/watch?v=PV4RzUY4BRM

Noddle and Clearscore are also free credit agencies to consider using:

https://www.noddle.co.uk/
https://www.clearscore.com/