Credit file record after IVA

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Post by scook » Tue Jun 19, 2018 1:44 pm
I had an IVA begin on 15th January 2015, and made a FAFO, accepted in January 2018, leading to the discharging of the IVA in April 2018, when I consequently received the completion certificate. Now, going through all my credit records I can see that all of the accounts that were included in the creditors are showing monthly defaults all the way from the beginning of the IVA until May of this year. There are in fact 8 separate creditors that show defaults all the way through the IVA. So, for instance, one Natwest personal account shows a default beginning at the same time as the IVA, so Jan 2015, all the way defaulting every month up until the last update on the credit record which was May 2018.

Will my defaults show up six years from May 2018, or when they account finally shows as settled/partially-settled? Am I right in thinking that the IVA will come off the record after 6 years from starting but the defaults will remain? I am getting conflicting reports from all CRA's as they all seem to show info that others don't or is missing. I'm not sure what will happen or how long it will take for them to update their records and what that will actually mean for my credit record. I'm still on the insolvency register until the 2nd August, going by the notification date on there, will that reflect on my record? I'm just wondering why all those accounts continue to show defaults monthly when they are/were part of the IVA - I thought the point of the IVA was to stop that happening as we were in a new arrangement, the IVA itself. I'm so confused.


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Post by Ryan » Tue Jun 19, 2018 1:51 pm
HI Scook,

All defaults should have the IVA start date recorded against them, if not contact the Companies concerned and they will amend the date. The defaults will then remain on your credit reports for 6 years from that date as will the IVA.

It's best to check all 3 credit reports if you haven't already done so (Experian, Equifax and Callcredit/Noddle).

Ryan Radford
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Zebra Money Centre

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Lisa Thomas

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Post by Lisa Thomas » Tue Jun 19, 2018 2:50 pm
You might find this quick video I made about cleaning up your credit record useful:
Noddle and Clearscore are also free credit agencies to consider using:
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: ... Z5k9ZcC2MA 01752 786800


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Post by Foggy » Tue Jun 19, 2018 3:51 pm
Have a read here: ... dit-record

Each account will only have one default -- it is simply being reported every month and will disappear on it's 6th anniversary, which should also be the time the IVA goes, assuming everything is correctly dated.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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