6 year clearing off reports

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rince_w
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by rince_w » Fri Jul 28, 2017 4:49 am
My IVA completed back in 2016, as I made a settlement.
I have my clearance and my name no longer appears on the register. Experian certainly have me logged as completed, but it took them 7 months to acknowledge the fact...

I'd like to start think about a newer car, and as my 6 year date is end of next February, does the flag of me being in an IVA just expire with the 6 year date, or do I have to remind the credit reference agencies to take it off, or is it "wait" a number of months for their records to catch up?
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kallis3
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by kallis3 » Fri Jul 28, 2017 6:53 am
Hi,

It should drop off automatically after six years are up.
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Ryan
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by Ryan » Fri Jul 28, 2017 7:28 am
Hi,

Best to check the other 2 credit reports have updated - Experian and Noddle/Callcredit - as different Lenders will search different Credit reports. If you send them a copy of the Completion certificate they should remove the IVA.

Regards
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Ryan
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by Ryan » Fri Jul 28, 2017 7:29 am
Sorry Equifax as you have already done Experian - too many E's this time in the morning!
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rince_w
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by rince_w » Fri Jul 28, 2017 8:24 am
Thanks

I completed in April 2016, so hopefully the other agencies will have caught up by now...

It was more that come march/ April next year, if I apply for credit, the IVA won't be on my report for them to reject me for.
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Ryan
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by Ryan » Fri Jul 28, 2017 8:42 am
It's more a case of making sure that all the defaults were dated correctly so that they have fallen off the reports at the 6 year point. Dates of defaults can differ from report to report so best to check that all 3 are correct by checking them individually. Also best to make sure that any Notices of Correction are removed from the reports now.
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Foggy
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by Foggy » Fri Jul 28, 2017 9:03 am
Have a read here:

https://www.iva.co.uk/what-does-an-iva- ... dit-record

and also have a look at my latest blog entries (link in my signature below).
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Lisa Thomas
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by Lisa Thomas » Fri Jul 28, 2017 10:54 am
You might find this quick video I made about cleaning up your credit record useful:

https://www.youtube.com/watch?v=PV4RzUY4BRM

Noddle and Clearscore are also free credit agencies to consider using:

https://www.noddle.co.uk/
https://www.clearscore.com/
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rince_w
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by rince_w » Sun Jul 30, 2017 9:18 am
Ok, so having checked through all 3 agencies, all are showing the IVA as completed in 04/16.

Nothing in default or arrears.


So now it's just a case of waiting for the 6year anniversary in 02/18 before the completed IVA to drop off the report, before I stand a chance of getting a loan for a car (at not a rediculous Apr rate)?
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kallis3
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by kallis3 » Sun Jul 30, 2017 11:24 am
Afraid you will have to wait for the full six years.
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Lisa Thomas
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by Lisa Thomas » Mon Jul 31, 2017 8:37 am
yes it should all drop off automatically after the 6 year mark has passed.
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