Defaulted Then Settled - Some Accounts Don't Say Settled After

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GoonerDad
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by GoonerDad » Fri Sep 14, 2018 12:47 pm
Is it normal on a Credit Report for some items to show as Defaulted but not Settled after during an IVA, specifically Barclays & PRA Group? It's those 3 accounts Equifax say I am in Arrears with. Had my IVA nearly 5 years now.
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Foggy
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by Foggy » Fri Sep 14, 2018 12:55 pm
Defaults show up in a number of ways -- settled, open, partially settled. At the end of the day it makes no difference and is simply down to the various ways creditors report them to the CRAs. The main thing is that they are formally defaulted with a default date around the start date of the IVA -- they should then drop off 6 years after the default date, regardless of how they are marked.
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Kazza
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by Kazza » Fri Sep 14, 2018 1:51 pm
I must say, I went from someone not being bothered to someone clearly VERY bothered about her credit file!! all should have been looking fab last week....I'd cleared various things up (long ago or so I thought) got default dates corrected, except there still seemed a few creditors (ones that had debts sold on) reporting wrong dates. got me right frustrated it did! Max recovery were fab - bought our debt from Tesco, but Tesco only reported the date Max bought it....so let's just say a few (ok 14 now!!) harsh, letters went to Next Directory, Barclays, Tesco & Cahoot(as many address's as I could pluck out for them all!) So far all but Cahoot have responded and Tesco & Barclays have given us small sums of compensation! I ranted (and i meant it) that I've paid my penance and yet still these banks are stopping me having a better mortgage rate / credit card rate (only have Card for credit repair)! I was on a mission last week as I was furious that after the IVA dropped off not much else changed! but things going to the good now. for anyone reading, make sure the DEFAULT date is the same as the start date of your IVA. Never thought it would bother me so much, as it's not like it's needed but it was the principle that mattered and I could have been needing a better mortgage rate. good luck to all :D
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bethany
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by bethany » Fri Sep 14, 2018 2:24 pm
Foggy wrote:
Defaults show up in a number of ways -- settled, open, partially settled. At the end of the day it makes no difference and is simply down to the various ways creditors report them to the CRAs. The main thing is that they are formally defaulted with a default date around the start date of the IVA -- they should then drop off 6 years after the default date, regardless of how they are marked.


H Foggy

I've noticed that a few of the default dates are incorrect on my credit file, how do I go about getting them corrected. I don't want to leave anything to the last minute & Like being prepared so by the time next May comes around it'll all fall off.

:)
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Kazza
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by Kazza » Fri Sep 14, 2018 2:37 pm
Foggy usually post a link and when he does, it gives info re credit files and there's a template letter. I originally addressed my letters to the address's payplan had on file, but now 6 years on it seems some of those address's were wrong. This time around, I googled the company, sometimes called for an address or simply wrote to multiple! It's paid off. Try and do it all recorded delivery and then use Royal mail tracking to check it's been signed for. it helped last week that I put our mobile numbers on the letters too as got text confirmations from Next, Tesco & Barclays to confirm receipt. I had written to all these back in 2016 but clearly my letters were ignored by some, but when I gave harsh words last week stating they were severely wrecking my new supposedly improved credit rating they were only too quick to respond! Good luck :D
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Foggy
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by Foggy » Fri Sep 14, 2018 3:05 pm
bethany wrote:
Foggy wrote:
Defaults show up in a number of ways -- settled, open, partially settled. At the end of the day it makes no difference and is simply down to the various ways creditors report them to the CRAs. The main thing is that they are formally defaulted with a default date around the start date of the IVA -- they should then drop off 6 years after the default date, regardless of how they are marked.


H Foggy

I've noticed that a few of the default dates are incorrect on my credit file, how do I go about getting them corrected. I don't want to leave anything to the last minute & Like being prepared so by the time next May comes around it'll all fall off.

:)



Have a read here -- with template: https://www.iva.co.uk/what-does-an-iva- ... dit-record
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recovering
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by recovering » Fri Sep 14, 2018 4:15 pm
I am still waiting for Experian to remove the PRA partial Settlement on my report. I had a sparkilimg file then tjis popped up! Forgive my cynicism but it feels like a marketimg ploy to get you to pay £14.99 a month! Experian will not talk to you unless you subscribe and the email is painfully slow!
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kallis3
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by kallis3 » Fri Sep 14, 2018 4:28 pm
I think totally money do experian as well for free.
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UpToMyNeckInIt
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by UpToMyNeckInIt » Fri Sep 14, 2018 6:24 pm
I too am in the process of cleaning up my credit files.

You can check all 3 credit reference agencies free and forever. Found some great advice here: https://debtcamel.co.uk/best-way-to-check-credit-score/
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bethany
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by bethany » Mon Sep 17, 2018 10:38 am
Foggy wrote:
bethany wrote:
Foggy wrote:
Defaults show up in a number of ways -- settled, open, partially settled. At the end of the day it makes no difference and is simply down to the various ways creditors report them to the CRAs. The main thing is that they are formally defaulted with a default date around the start date of the IVA -- they should then drop off 6 years after the default date, regardless of how they are marked.


H Foggy

I've noticed that a few of the default dates are incorrect on my credit file, how do I go about getting them corrected. I don't want to leave anything to the last minute & Like being prepared so by the time next May comes around it'll all fall off.

:)



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



Thank you :)
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