Confusion about defaults (DF) on my credit report

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toby847

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Post by toby847 » Fri Nov 24, 2017 12:38 pm
Hi,
I started and IVA on 6th June 2012 and completed it 6 months ago on the 26th May 2017.
I'm now starting to look at my credit reports to see what, if anything, needs 'cleaning up' and I have obtained reports from Equifax, Experian and CallCredit.

On two accounts (Max Recovery and PCO Hold Co Sarl c/o Watch Portfolio) on the Equifax and Experian reports they show a single default when the IVA started, but nothing for the next 60 months and then a PS when the IVA was completed.

However on the CallCredit report on the same two accounts (Max Recovery and PCO Hold Co Sarl c/o Watch Portfolio) it shows a DF in all of the 60 months, right up to the date the IVA was completed then in June 2017 it shows a PS.

I was under the impression that they could not show a default after my IVA started. Is this correct?
The way I see it (please correct me if I'm wrong) those defaults up to June 2017 will remain on my record for another 6 years?

As such, I need some help/advice as to how to go about getting the defaults removed if they aren't supposed to be there, as I only have 6 months to wait until the IVA falls off my record for good and I can start to live again.
Please HELP!!

Foggy

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Post by Foggy » Fri Nov 24, 2017 12:42 pm
Hi -- the important thing is the "date of default", which should be on or about the date of the start of the IVA. The defaults will drop off 6 years after this date.

Regarding the credit file entries: this is simply that the creditors have reported the default as still exisiting every month to Callcredit, but not to Equifax or Experian --- they are not defaulting every month ( each debt can only be defaulted once ) but reporting the existing default.

Have a read here:

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

toby847

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Post by toby847 » Fri Nov 24, 2017 12:46 pm
Phew! Thanks for the information Foggy.
I was so concerned that I'd have get involved in some stressful battle!
Only six months to go and I'm free to start again.
Thank you.

MerlinL14

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Post by MerlinL14 » Fri Nov 24, 2017 4:35 pm
Max Recovery and PCO Hold Co Sarl c/o Watch Portfolio are very IVA aware and try to stay within the rules and guidelines. If they 'forget' to remove the defaults it will be a simple matter of a letter to advise them of the oversight, thankfully you won't get engaged in a communication war with these 2 agencies.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues

Lisa.53

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Post by Lisa.53 » Tue Apr 30, 2019 10:13 am
My IVA was completed with a full and final and it has now been 6 years since my IVA started so my credit file is almost clear with the exception of one account which still shows defaults every month right up to date, what do I need to do please?
Full and Final Accepted 03/09/2015

Foggy

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Post by Foggy » Tue Apr 30, 2019 10:16 am
Tue Apr 30, 2019 10:13 amLisa.53 wrote:
My IVA was completed with a full and final and it has now been 6 years since my IVA started so my credit file is almost clear with the exception of one account which still shows defaults every month right up to date, what do I need to do please?
Read the link in my first reply to Toby -- there is a template letter to use to get the default date corrected.
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
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