Credit Fix

[alamepera_pautanga]

Good Afternoon Everyone!


I just want to ask regarding the Income and Expenditure annual review. Creditfix sent me email to register so they can access my I & E online but I need to use my bank log in details which I need to use the link they sent to me. Is this a new way for my IP to review my account? I used paper I&E review in the past .

Thanks

[Foggy]

This appears to be a new system CF are rolling out. I have no problems with operating an IVA online but I would have serious doubts about sharing my bank log in details. In fact I would refuse to do so.

[alamepera_pautanga]

Thanks Foggy!

Just spoken to CF and they are sending the paperwork to me ! The lady told me that they are not going to get any information from my bank but when I told her the T&C says they will retrieved then I think twice why I should give them access to my bank account.

really doubt about the their T&C
Our Services

On your acceptance of these Terms and our acceptance of your application for our Services, you engage us as a service provider to provide you with the following services:-

1 obtain on your behalf, as your authorised agent and representative, an aggregate summary your monthly expenditure as retrieved from the information on your bank account;

2 hold on our systems and make this credit information available to you through our website. After you register for our service we will take you through an ID validation process to securely identify you as an individual. Once your identity has been validated, we will then provide you with an aggregated summary of the data within your bank account;

3 undertake analysis and profiling of your and, where applicable, your financial associates’ (meaning any person with whom you have a joint financial account or mortgage, have made a joint credit application or have a joint court judgment) credit information (and any other information provided by you or on your behalf) and/or to make tools available to you to do so yourself, to assist you in being better informed;

4 using your credit information and any other data you provide or make available to us for the purposes set out in these Terms.

[Cloggie]

@Foggy - I am trying to contact you regarding a response you gave to my post in December. How can I reach you? Short story - the Financial Ombudsman has said a creditor does not have to mark a debt included in an IVA as settled until the completion of said agreement which means they registered a default notice for the duration of the IVA (5 years) and then marked it partially settled which will remain on my file for a further six years. Any reaction?

[kallis3]

As far as I am aware, creditors cannot keep defaulting and once you have finished any defaults should drop off after the six year mark - you would need to send a copy of your completion letter to the creditor and get them to put the date back to the start of your IVA.

[Foggy]

@Foggy - I am trying to contact you regarding a response you gave to my post in December. How can I reach you? Short story - the Financial Ombudsman has said a creditor does not have to mark a debt included in an IVA as settled until the completion of said agreement which means they registered a default notice for the duration of the IVA (5 years) and then marked it partially settled which will remain on my file for a further six years. Any reaction?

Hi Cloggie. My understanding is that they do not have to register and account as in default at all, if they do not wish to do so. But, if they DO default the account, the date of default should be the date the account broke down .. which ordinarily would be on or before the date the IVA was accepted.

If a default has been registered then the whole shebang will disapear on the 6th anniversary of the default date. If no default has been registered, then, yes, the account history will sit there for 6 years from the time the account is considered settled / partially settled. This will show missed / late payments but not be considered as a default ... however, still not good for the credit score !

On marking settled or parially settled ... as long as a default has been correctly registered it matters not how they mark it as it will all go at 6 years. If NOT marked as a default they will mark it settled or partially settled when or about when the completion certificate is issued.

In the past I have only come across a couple of instances where the creditor has not marked the account as in default and, in one case, the creditor corrected this omission when requested to.