We settled IVA in October 2015 however a default from Creation Finance is on credit file

[Andy.88]

Hi. Me and my wife started an IVA in 2011 and we managed to settle it in October 2015 by getting a secured loan. I've just got a credit report from equifax and it's showing that the IVA is settled, however there is a default loan on there that was taken out in 2009 and as far as I was aware would be in the IVA, it's from creation finance, it's showing that every month we are defaulting and we have had no communication with them since the IVA started in 2011.. Does anyone know what might have happened here?

[watzki]

A default notice stays on your credit file for six years from the start of your iva,then it should drop off

[Foggy]

The default should be dated the date of the start of your IVA and will, as Watzski says, drop off 6 years later.

[allaboutme77]

I also have a Creation default on Credit File I have raised this point before because they are also updating my file on a monthly basis.
We are not due to complete until next year. It appears they have refused dividends as part of IVA.

I have to admit it concerns me.

[kallis3]

Regardless of whether they refuse dividends they are part of the IVA and the defaults will drop off.

[Foggy]

They are not adding any defaults on a monthly basis, simply reporting the fact that the account is still in default, which it is. It is still only the one default which will disappear on the 6th anniversary.

[allaboutme77]

Apologies Andy.88 for hijacking but I'm hoping we will both get the answer we require.

You will from the picture that there is no default date and it is upto date as of Jan this year.
I feel there maybe some work required to get rid of this.

[img][IMG]http://i1159.photobucket.com/albums/p63 ... 6lbsr.jpeg[/img][/img]

[kallis3]

Hate to say this Foggy but RBS continued to default me month on month and it did not drop off after the sixth anniversary.

[Foggy]

Sorry Kallis, but, because of the size of the credit report picture, half of your message has been lost behind the site graphics.

From what I can see you say that RBS defaulted you every month ---- this is not possible. Each loan can only have one default, which gets reported every month, basically as "date of IVA - Defaulted" then, every month thereafter "still in default", but they are not NEW defaults. According to Experian, sometimes a new default slips through and, if it is obvious it is a repeat of the old default, remains until both drop off.

[kallis3]

That wasn't me Foggy - it was allaboutme77 who posted the report, I just commented that I had nice big red defaults every month

[allaboutme77]

So out ouf interest Kallis3, what did you do about your RBS default after the six years?

[kallis3]

I've actually been very lazy and done nothing about it yet as I don't need any credit. I will get round to it by writing to RBS enclosing the completion for both of us (it was a joint loan) and telling them to remove it back to the start of the IVA.

[Lisa Thomas]

If defaults are still there after 6 years the debtor should send the creditor another copy of their CC and get the creditor to update the record.

[allaboutme77]

Very good.

It would be good to hear from anybody who has successfully written to creditors or CRA and had records amended.

Thanks for the advice

[MrsR]

I had a default added monthly from Creation, despite concluding the iva early in April, and in January I called them and complained that they had not updated my credit file accordingly and also that the original default date was also wrong.

I emailed an electronic copy of the completion paperwork and was told it can take up to 4 week so reflect on my credit files, and it was done by end of February, all defaults passed April were taken off, and start default date was updated to refect start of iva.