www.iva.co.uk

Hi

Just wanted to know whether your credit score improves after you come off the register or its only after the 6th anniversary when the defaults come of your credit file?

I have exactly 6 more months to go before I finish paying off in January 2019 and am due to come off the register on the 9th September 2020.

Thanks in advance

The score might improve marginally once you are off the register, but not enough to make any real difference. The biggie is when the IVA hits the 6th anniversary and drops off of your credit reference agency files, hopefully along with any associated defaults (as long as they have been dated correctly). Then you will see a big jump, but, it will still be a modest score as you will have a clean record and, therefore, be a bit of an unknown entity. Have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record

Don't forget the three months is from the date you get your completion letter. You might be off before September next year.

Mon Aug 05, 2019 10:49 amkallis3 wrote:

Don't forget the three months is from the date you get your completion letter. You might be off before September next year.

Hi
Thanks for the reply but am bit confused in your reply as my final IVA payment to my IP is the 20th January 2020. The defaults on my credit file are recorded for the 9th September 2014 so due to me off on the 9th September 2020.

Regards

Mon Aug 05, 2019 10:44 amFoggy wrote:

The score might improve marginally once you are off the register, but not enough to make any real difference. The biggie is when the IVA hits the 6th anniversary and drops off of your credit reference agency files, hopefully along with any associated defaults (as long as they have been dated correctly). Then you will see a big jump, but, it will still be a modest score as you will have a clean record and, therefore, be a bit of an unknown entity. Have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record

Hi

Just checked with Experian and Equifax my credit report and I have realised that
Barclay current accorded is recorded wrongly as 10th October default date instead of 9th September.

Also post office credit card is recorded as 17th September instead of 9th September.

2 other entries have earlier default dates of 2nd September instead of 9th September.

Any advice appreciated.

Thanks

With regards to the accounts where the defaults are dated after the IVA start date you just need to contact the Companies concerned, ask to speak to their Data Controller and get them to amend the default date to the IVA start date. The accounts that are dated prior to the IVA start date are fine you don't need to do anything with those.

Regards

Given that the dates are on or about the right time, for the sake of a few weeks I would leave them 'as is', rather than poking a bear that doesn't need to be poked.
Mine were spread over a few weeks around the 6th anniversary and, strangely, they all dropped off when the IVA did (possibly someone at the reference agency thinking ahead).

Mon Aug 05, 2019 11:24 amRyan wrote:

With regards to the accounts where the defaults are dated after the IVA start date you just need to contact the Companies concerned, ask to speak to their Data Controller and get them to amend the default date to the IVA start date. The accounts that are dated prior to the IVA start date are fine you don't need to do anything with those.

Regards

Thanks Ryan. Much appreciated. I called you today but was told you were in a meeting.

Regards

I believe you spoke to Mike - he's the best point of contact in the Office.

Regards

Thanks

Mon Aug 05, 2019 10:59 amFlavour79 wrote:

Mon Aug 05, 2019 10:49 amkallis3 wrote:

Don't forget the three months is from the date you get your completion letter. You might be off before September next year.

Hi
Thanks for the reply but am bit confused in your reply as my final IVA payment to my IP is the 20th January 2020. The defaults on my credit file are recorded for the 9th September 2014 so due to me off on the 9th September 2020.

Regards

Sorry but your original post said January 2019 so I was a bit confused!

My 6th anniversary was yesterday,
Totally money live credit score was 572 yesterday and 622 this morning

Mon Aug 05, 2019 11:24 amRyan wrote:

With regards to the accounts where the defaults are dated after the IVA start date you just need to contact the Companies concerned, ask to speak to their Data Controller and get them to amend the default date to the IVA start date. The accounts that are dated prior to the IVA start date are fine you don't need to do anything with those.

Regards

Hi Ryan

I did just that and Barclays replied to me saying that and I quote:

Please can you provide a copy of a letter headed completion certificate?

Do I need a completion certificate before inaccurate dates are amended on my credit report??
I need to reply them but dont know what to state now as I sent them the standard template letter stating that they had inaccurately recorded the wrong dates which were beyond my IVA start date.

Can anyone advise.

Thanks
 

A lot of creditors will want proof that your IVA is completed so a copy of your completion letter will sort it once you receive it.

Hi

But from my understanding its totally irrelevant whether its completed as my position here is the fact that I am reporting about an incorrect information which has been recorded.
At least that's how I interpreted it.