www.iva.co.uk

As part of my efforts to get my credit file updated to show the IVA as satisfied I have sent for my file from Equifax and Experian.
Whilst the IVA was in place probably 60% of my debt was sold on to Max recovery.
Checking the Equifax version today I have noticed that my Barclaycard Visa and Mastercard debts are showing twice once with Barclaycard and also exactly the same amounts with Max Recovery.
The Experian only shows the Max Recovery debt, both still show the oustandings amounts and are not marked as satfisfied.

I have already written to Max Recovery and will now contact Barclaycard, can I insist that they remove the double amounts and that they update my credit record or am do I just have to live with it until it drops off in 4.5 years time.

I need to remortgate in April this year as with very sub prime lender and the 2 year fixed deal will finish and I don't want to paying 100's more if I can change to BMS or another company.

This is a common problem as debts are being sold by lenders.

You can only ask for the entry to be removed if it is incorrect. The view lenders have been taking is that an IVA does not represent settling / satisfying a debt and therefor do not report it as such to the CRA.

For mortgage purposes underwriting is based on the level of adverse. This normally only includes CCJ's and any mortgage arears.

This info will give you an idea of the underwriting mortgage lenders use....http://www.edeus.eu/en/Literature/

Thanks for the link Storm I will look at that.
I am going to contact Barclaycard in writing on Monday as these two entrys are incorrect as they have sold the debt and the sold debt also shows.

The lenders who did not sell on the debt have updated their records to show settled and a balance of £0.00 and others show satisfied or settled but still show the balance outstanding as the balance left over after the IVA payment has been sent to them.

As long as I can get a decent re-mortgage rate I will be happy. We will never be high street material due to selfcert mortgage being required

There is some adverse self cert info on there.

It is a lenders / brokers guide so if there is something your not sure of give me a shout.

Hi Storm
It did seem a bit 'jargony'.
I did'nt understand the prime, light etc. I just know I have crap credit rating.
By the time my two year mortgage deal finishes,its 6.95% which to be honest looks good now. We will be nearly 12 months post IVA. This rate is set to increase I am sure once the deal is finished.
IVA was approved on 30 May 05 and was satisfied on 30 May 06 (hence MAY06)
My husband is self employed and we have to self cert for him.
When we remortgaged we did 85% to value, £85,000 mortgage and we will probably have to remortgage for about £79,00O