Hi All, I have just received my completion certificate and what a relief to have it!! Who do I need to send copies of it too or what do I do now to try and rebuild my credit score?
Thanks in advance for any advice
When I finished my IVA everything was done automatically, but, these days, some IPs suggest you send copies to reference agencies yourself ---- which, to be honest, is a waste of time because the agencies will only listen to creditors and the Insolvency Service themselves.
The IP is supposed to, under the regulations, send copies to the Insolvency Service, so, first stage is to keep an eye on your Insolvency Register entry to make sure that the 'active' marker gets changed to 'completed' --- then you will know that they have been informed and that the IVA will come off of that register within 3 months (often three months to the day). The Insolvency Service will then report this to the credit reference agencies.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi,
My name has been removed from insolvency register and it shows my Iva has finished on my credit report however all my creditors still have on credit report the old balances which looks as if they are still owed. Do I have to send all my creditors copies of my completion certificate and ask them to update this information?
The old accounts should have been defaulted by creditors, with a default date on or near the IVA start date. In that case they will simply disappear on the 6th anniversary, along with the IVA itself.
I am not qualified to give advice and can only state my opinions, based on my IVA experiences.
hi I've been wondering this myself. I'm only two years into my iva i haven't had a default since before my iva according to my credit reports but my creditors are showing the full balance and it just says unknown? i wonder if its worth getting in touch with the creditors to see if they can do anything about this? id also like to know
I would just leave it - creditors are not going to alter the records until the end of the IVA and the completion letter has been sent out.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
