Clearing Defaults

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leaKybrain

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Post by leaKybrain » Tue Oct 11, 2016 8:10 pm
Hi all again, how you all doing? To be honest I didn't expect to post a question again, though I've occasionally lurked and read help and info that you good folks post.

But I need some advice, and I have scoured the forum and read a lot of replies but they don't all cover fully what I think I need to know.

We started our IVA Dec 2010, finished in Dec 2015 and received our Completion Certificate almost immediately. After a month I checked the Insolvency Register, and we'd disappeared :)

I checked with Noddle and later Equifax and both show that one Creditor has us as Default.

Express Gifts, shows the letter D in every single month since the start of the IVA though they have the first date of Default as January 2011. So its a month later than it should be.

I wrote to them a few months ago with a slightly altered version of the letter on here, saying please change saying settled, and sent them a copy of the completion certificate. Nothing has happened.

In Dec this year it will be 6 years since the IVA started, and since the first D on their record. If I do nothing will it automatically change or disappear come December/January or will they continue to keep putting a 'D' in each month.

We don't have anything on credit at all, except Mortgage of course, and for some reason Water Rates is classed as debt. But everything says its OK. Our credit score hasn't changed a single digit since I first checked it in Jan/Feb this year.

I'd like to try and get it up a bit, though we have no intention of ever getting credit again, but I understand the reasons why it would be a good idea.

So, hoping that I've explained this properly, what do I do?

Do I write again to Express with full letter and say change the default date, and can you mark it as satisfied as the IVA is complete.

Or do I leave it till January and see what happens?

Also if you pay the £2 for a report from Equifax, is it only that report, do I have to pay every single time?
 
 

Foggy

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Post by Foggy » Tue Oct 11, 2016 9:19 pm
The default will disappear at 6 years old regardless of how it is marked. My IVA started the same time as yours and I have one creditor with a January default date -- but, for the sake of a few weeks I have left it alone.

The £2 fee for a credit report is per report and you need one from each of the three agencies. I intend to wait until February /March to obtain the statutory reports, in the meantime keeping track via Noddle and Clearscore, which reflect Callcredit and Equifax respectively. Then I will take any correcting action required, if any .... I am in no rush for a good credit score for any reason other than to be "normal" again.

Each agency holds different data, according to which creditors use and report to them, so all need to be checked.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

leaKybrain

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Post by leaKybrain » Tue Oct 11, 2016 9:39 pm
Thanks Foggy. I do remember yours being the same time as mine. I think I'll copy you and wait. No point doing something if we don't need to at this stage. I didn't realise clearscore was Equifax, I know noddle and callcredit were same, I quite like noddle, its a nice layout and easy to understand.
Thanks for that x
 
 

Lisa Thomas

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Post by Lisa Thomas » Wed Oct 12, 2016 9:38 am
You need to wait until December 2016 before things can be tidied up. Best of luck.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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