joanna wrote:I have never missed a payment before I have entered into IVA . My credit report shows defults on all cards included in IVA. Are those meant to be there if I haven't missed a payment?
When you enter an IVA the accounts go into default pretty much automatically. This actually helps as defaults drop off after 6 years (as does the IVA if completed) and clears your credit record, whereas non defaulted accounts will remain, showing a lack of payments for all to see,
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
You want the accounts defaulted as early as possible so that, as Foggy says, they will fall off your credit reports after 6 years. If all your Accounts have been defaulted that's good and will save you plenty of time when you have completed as you won't have to get the dates amended which can take a while.
IVA Mortgage Expert
Zebra Money Centre