www.iva.co.uk

Hi all,

I am desperate for some help. I paid off my IVA early, after 2 years. I have received my completion certificate a few months ago and the Insolvency register has been updated. However 6 debts on the Iva have not come off my credit report, the others however have and are shown as competed on Noddle. 6 however which was under the IVA are still showing as default.

I have spoken with my insolvency company who have said they have sent a letter to the creditors but there is nothing more they can do?! Can someone please advise what I can do to get the rest off ASAP?

Any advice is greatly appreciated, thank you!

They and the IVA will remain on credit files for 6 years from the start of the IVA, if dated correctly. Have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record

Foggy wrote:

They and the IVA will remain on credit files for 6 years from the start of the IVA, if dated correctly. Have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record

No it’s not that. 6 accounts that are on my competed IVA are showing as still open on my credit file whoever the other 8 that was on the IVA are shown as closed. The insolvency company say they have sent a letter to the creditors but there is nothing else they can do. I have my certificate stating they have been closed. How do I get my credit report or my insolvency company to show that they are closed? I am getting no where

Kritical23 wrote:

Foggy wrote:

They and the IVA will remain on credit files for 6 years from the start of the IVA, if dated correctly. Have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record

No it’s not that. 6 accounts that are on my competed IVA are showing as still open on my credit file whoever the other 8 that was on the IVA are shown as closed. The insolvency company say they have sent a letter to the creditors but there is nothing else they can do. I have my certificate stating they have been closed. How do I get my credit report or my insolvency company to show that they are closed? I am getting no where

The creditors are allowed to report the situation as they see fit and are not obliged to amend the status. You could try adapting the date template on the link I gave you to refer to the staus, rather than date (after all they should still be reporting factual information ).

That all said, it makes no difference --- your file is trashed regardless, while the IVA is on it.

You don’t know what you’re on about

Defaults stay on your credit file for 6 years. Even though you paid the IVA early the defaults still exist - they don't magically get wiped as if they never existed. You will have to be patient and creditors must report the truth whether the debts have been partially satisfied or not.

If you were to apply for a loan or mortgage etc it is only right that potential creditors are aware of your recent accurate financial history ( e.g. 6 years) for them to make a risk assessment on your ability to pay.

Kritical23 wrote:

You don’t know what you’re on about

Thank you for that insightful comment.

As Foggy correctly says the accounts will show on your credit report for 6 years from the date of the default. At that 6 year point which should be the same as the IVA start date the accounts will fall off the credit report.


Regards

Foggy is correct - it is your IVA company that has let you down by not correctly explaining the impact of entering an IVA and the long term impact on your credit history.

Foggy does know what he is talking about and his information has helped many a poster on here

normanna wrote:

Defaults stay on your credit file for 6 years. Even though you paid the IVA early the defaults still exist - they don't magically get wiped as if they never existed. You will have to be patient and creditors must report the truth whether the debts have been partially satisfied or not.

If you were to apply for a loan or mortgage etc it is only right that potential creditors are aware of your recent accurate financial history ( e.g. 6 years) for them to make a risk assessment on your ability to pay.

Careful now, we could end up with 2 members being told "you don't know what you are talking about"
I was actually quite shocked at the response of the thread starter to helpful and accurate advice.