Default still showing on crefit report

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J5453

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Post by J5453 » Sat Mar 30, 2019 9:44 am
Hi, not been on here a while since completing my IVA a year ago.
I'm still having issues cleaning up my report.
When I went into the iva in 2012, I had a loan secured on my house with firstplus (taken over by Elderbridge finance). Worst thing I ever did but that's another story. Obviously that loan had to remain as it was secured. A year or so into the iva my house was repossessed and the loan was half paid off with the equity in the house but some £18k remained. As this loan was joint with my then and still now ex husband, I became responsible for my half as it were and it was taken into my IVA in October 2013 after a variation meeting. So now my IVA is complete I should no longer be responsible for that debt but Elderbridge will not remove the default or my financial association with my ex husband off my credit report. They say it has to run for the 6 years so every month after my IVA they keep.putting a default report to call credit. So call credit won't remove it. Experian say I shouldn't have this association anymore. Do I have to wait even though my responsibilities for this debt were taken into my IVA albeit not at the very outset.
Any help will be appreciated

Foggy

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Post by Foggy » Sat Mar 30, 2019 9:54 am
Hmmm ... the default date is supposed to record the date that the relationshiop between you and tyhe creditor formally broke down, which, in most cases is taken as the date the IVA started. However, being a secured loan this debt would have continued outside of the IVA and only became part of the arrangement when it became unsecured .... well after the start of the IVA.

The question here is, which date is the applicable date ?

I would start from the assumption that, as the IVA became binding on the loan in all respects, the default date should be given as the IVA start date. Use the information and the template here: https://www.iva.co.uk/what-does-an-iva- ... dit-record

If they hold out for the later date, go through the process and let the powers that be rule on it --- it could go either way.
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

J5453

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Post by J5453 » Sat Mar 30, 2019 10:29 am
Thank you Foggy.

I'll give the letter a whirl.
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