Can defaults be added to your credit report after IVA started

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Blade2004

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Post by Blade2004 » Wed Jun 16, 2021 3:54 pm
If IVA is now showing on credit report can creditors still continue to add defaults after this date

Foggy

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Post by Foggy » Wed Jun 16, 2021 4:18 pm
Yes, they can add them at any time, but the 'date of default' must be recorded as on or before the date of the start of the IVA, as that is the formal breakdown of the original credit agreement. In this way the defaults recorded will disappear around when the IVA itself disappears at the end of the 6 years. The defaults disappear on the 6th anniversary of the 'date of default' not the date the default is eventually recorded.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Blade2004

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Post by Blade2004 » Wed Jun 16, 2021 4:28 pm
Some are recorded after the start date of the IVA, just by a few days as it’s quite early. How would I get these changed to the correct date

Foggy

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Post by Foggy » Wed Jun 16, 2021 4:32 pm
You can write using the template in my article here : https://www.iva.co.uk/what-does-an-iva- ... dit-record

However, for the sake of a few days it is probably not worth the trouble.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

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Post by kallis3 » Wed Jun 16, 2021 4:33 pm
You can speak to them and ask them to change them but, at the moment I wouldn't bother. It is not going to make a lot of difference.
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

Blade2004

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Joined: Wed May 12, 2021 7:40 pm

Post by Blade2004 » Wed Jun 16, 2021 4:35 pm
I’ll keep an eye on it and hopefully will settle down and when I feel well enough I’ll start and tackle that. Have plenty time to put it right but would prefer to keep on top of it now. My credit has been squeaky clean for 26 years and it’s frightening seeing all these defaults. I don’t think they should any once your Iva is on

Foggy

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Post by Foggy » Wed Jun 16, 2021 4:44 pm
As you will not be applying for any credit for the next 5 or 6 years, no-one will see the defaults, or, indeed, the IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Blade2004

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Joined: Wed May 12, 2021 7:40 pm

Post by Blade2004 » Wed Jun 16, 2021 4:52 pm
I have an alert with credit karma so I get an email when anything new is on, which is terrible as all it’s going to be is bad news for the next 6 years

kallis3

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Post by kallis3 » Wed Jun 16, 2021 4:57 pm
I would not worry about it now - you are on the path to debt freedom and anything else can wait until the end.
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
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