Credit File

[Reliefman]

Hi,
How do I go about clearing my credit file and who do I need to contact any help would be most appreciated.

Regards

Carl

[Foggy]

Useful article here:

http://www.beatmydebt.com/iva/improving ... er-iva.htm

[sponge]

Assuming your have your CC at the six year mark everything defaulted/ satisfied from the last payment drops off anyway. The reason is tied to statute (I won't bore you) Equifax do seem to have a habit of putting your IVA in the notice of correction. You can call the UK call centre and they will remove it over the phone.

Whilst Foggy’s link is useful, it matters little, whilst the IVA is there you credit score is shot (were talking years 5-6 IVA traditional) But here's the rub post that six year mark and once your CR is clear, you'll be surprised just what happens to your credit score!

Once upon a time and for the life of me I don't know why, this site had it drummed into them that post IVA get a credit card for those with poor credit rating (reaaalllly just bonkers) as this appeared to be translated into those with little credit history, for some reason, which is true of those post IVA of course, however the reality is a little different. You'll generally find you can go to a regular card or lending at competitive rates should the need arise.

There’s very little guidance post IVA I don’t know why. It appears we tread on our own, so maybe our exit sequence we experience is a little different from each other. From my perspective say some 7-8 years ago IVA’s ballooned and so for that reason relative to those in to out not that many have finished that should have due to the stunting of PPI and VAT and whatever the next thing is…

For me I would like to see the DRO limit raised to 20k maybe even 25k (your home excluded) but other assets considered and leave IVA’s to those in heavier debt, due the fee involved which can be substantive but justifiable. That so makes sense to me if not a little off track

[Foggy]

"Whilst Foggy’s link is useful, it matters little, whilst the IVA is there you credit score is shot (were talking years 5-6 IVA traditional) But here's the rub post that six year mark and once your CR is clear, you'll be surprised just what happens to your credit score "

Have you read that article, Sponge ? Post that six year mark your credit record WILL NOT clear up if any defaults are incorrectly dated --- the thrust of the article I pointed to is to CHECK your record and take action to correct anything which will stop the IVA dropping off the file on time.

Some people (presumably you are also one of the lucky ones) do not have to do anything --- but this is not always the case.

[sponge]

I know what your saying but as there's usually nominal difference between the two and there's been a fair few number of posts that wished they hadn't interfered with their CR and let nature take it course or rather statute. As one poster so nicely put it's like a scab keep picking at it and it won't heal.. And I did say our exit experience seem to be different for each poster. But that's down to a total lack of guidance from IP firms I'd like to find one that can provide “a what next guide” along with the CC

[Foggy]

I know what you mean Sponge -- but judicious tinkering is sometimes required ( or at the very least a check for things like a NoC ).

I believe Mel's team do offer advice post completion. Of course, some get around it by simply not completing !!!!

[IVANotOverYet]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by sponge


But here's the rub post that six year mark and once your CR is clear, you'll be surprised just what happens to your credit score!

Once upon a time and for the life of me I don't know why, this site had it drummed into them that post IVA get a credit card for those with poor credit rating (reaaalllly just bonkers) as this appeared to be translated into those with little credit history

And there's your answer. Experian, Equifax and CallCredit will all give you a great 'score' which is meaningless when it comes to actually accessing any credit in the future.

After six years of an IVA, any credit arrangements you had will have disappeared; and assuming you have not taken credit (as you should not) during your IVA, you WILL have little credit history, so it may well be the case that you need to build up a credit profile using a sub-prime credit card just as an 18 year old might.

Yes, your bank may give you a 'normal' card, but that is not the same for everyone. No matter what Equifax tells you, having a 999 'score' doesn't mean anything useful, and two people with the same score may have totally different experiences when applying for credit.

[sponge]

INOY that's just what I said you will have little credit history. Exactly….. Just what they want! You have to see it from their eyes as aversion to risk, 6 years not be overdrawn just some nice steady insurance DD yum yum ripe fruit for credit me thinks...My point if you try for a coveted 0% credit card, their key question is your current account details, which couldn’t be further from any line of credit.

Anyway proof is in the pudding for me it was not a problem. I am the product of the same process, therefore all things being as a general rule the outcome will be the same. Of course I will bend to accept that things like post code and demographics may have a part to play

[IVANotOverYet]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by sponge

INOY that's just what I said you will have little credit history. Exactly….. Just what they want! You have to see it from their eyes as aversion to risk, 6 years not be overdrawn just some nice steady insurance DD yum yum ripe fruit for credit me thinks...My point if you try for a coveted 0% credit card, their key question is your current account details, which couldn’t be further from any line of credit.

Anyway proof is in the pudding for me it was not a problem. I am the product of the same process, therefore all things being as a general rule the outcome will be the same. Of course I will bend to accept that things like post code and demographics may have a part to play

OK, if you want to believe that, fair enough. I've actually worked on writing lenders' software "applicant assessment modules" in the past, and I can tell you for a fact that no credit history does not in any way shape or form represent 'yum yum ripe fruit'.

Applying for a 0% card does not give the lender access to your bank account, so how on earth would they know about your insurance direct debit? All they *may* know from your CRA file is that your bank has reported that your account has been 'in order' for however long you've held the account. If you earn 20K and have a 10K overdraft which you never exceed, the bank will still give you a nice green marker every month but you'll not find anyone who'll touch you for credit when you have that level of unsecured debt on that salary.

As I said, credit scoring is not the be-all and end-all. Behaviour is.

[sponge]

INOY At that time whilst I had my IVA the dd's were for car insurance which was taken as loan proper I seem to think

Yes I agree behavior is the bigger part, but the question is that aligned to your credit line pe se? The reason that I question the idea of the credit line being a bigger part, take away the IVA (and that special question) Why is it that people who have recently finished IVA can obtain High St Mortgages and favorable credit, without having any credit to speak of?

As far 0% credit card I wonder for what reason they would want my current account number and sort code, any idea?

[wiggle1]

The credit reference agencies seem to be very fond of my iva and a default from the Nat West (2006) cos they keep hanging on to them. Been writing and phoning but they're still there.

[Reliefman]

Thanks for the advice Foggy, Sponge and INOY I have been on Experian and paid the £2 to get my file which when seen shows me the itinerary of which got me into the poo in the first place but nothing of a so called credit score. I Certainly am not looking to get any form of Credit as the adage "once bitten twice shy" comes to hand. I'm just trying to set the Record straight post iva