credit report

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mumof3
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by mumof3 » Mon Jul 16, 2018 9:48 am
Hi,
On my credit report should my accounts show as defaulted on every month during an IVA? Just I thought if it took 6 years for defaults to fall off your credit report then surely it can't show as default all the way through the IVA.
Thanks for any info.
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Foggy
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by Foggy » Mon Jul 16, 2018 10:04 am
mumof3 wrote:
Hi,
On my credit report should my accounts show as defaulted on every month during an IVA? Just I thought if it took 6 years for defaults to fall off your credit report then surely it can't show as default all the way through the IVA.
Thanks for any info.


The account will be defaulted once and the date of default should be the start date of the IVA. Every month thereafter (if the creditors so wishes) it will be reported as still in default. On the 6th anniversary of the date of default the whole acount, including all those monthly entries will be removed.
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Ryan
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by Ryan » Mon Jul 16, 2018 10:05 am
The date of the default should match the IVA start date (if they don't ask the Creditors to amend the default date) and they would fall off the credit report 6 years from this date.

Best to check all 3 of your credit reports - Experian, Equifax/Clearscore and Callcredit/Noddle.

Regards
mumof3
Posts: 48
by mumof3 » Mon Jul 16, 2018 3:46 pm
Thank you. So it's ok coming up as defaulted every month. I will check to make sure everything goes back to the correct date.
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Foggy
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by Foggy » Mon Jul 16, 2018 4:03 pm
mumof3 wrote:
Thank you. So it's ok coming up as defaulted every month. I will check to make sure everything goes back to the correct date.


Have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record
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