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