Full & final settlement honest review credit fix

[Amyhowarth86]

I wanted to post an honest review of my experience with credit fix. So I started my IVA with small debts compared to most. I was told this was probably the best solution for me. So I went ahead with it. I was paying just £70 pm and paid this for 3 years. Had several payment breaks and always found credit fix to be understanding and helpful.
On my annual review last year they found that I had done too much overtime and I now had £2000 extra added that I had to pay I know I should have told them but for someone on an Iva it’s too tempting to try and hide it, but they was always going to find out so daft really. So now 8 months down the line I had managed get together £3000 and offered it as a full and final offer to end the Iva. The day I said I wanted to settle a meeting was arranged for exactly a months time. This was done and the creditors accepted the amount. I paid it the same day. I had been trying to find information I have asked questions about if I will have to do a final review and have been told several times that I will have to. So I have been worried about this as I just wanted it to be over and done with. 8 days down the line I can see on my credit file that some of the debts are already settled and yesterday I received my certificate of completion. So no final review and no more payments in to the Iva it’s completely over and I can now move on. I know it will remain on my file for another 2 and half years but I can now freely do overtime and I have a little extra every month. The final settlement was the best thing I ever did.

[Foggy]

Congratulations on getting to the end. No final review is a failing on behalf of CF, but good news for you ( one less thing to worry about).

Onward and Upward

[Amyhowarth86]

Apparently they never do a final review according to their customer service dept.

[AVAV]

hi hope you can help

Congratulations of the Iva settlement, I find myself in a position that I have made final payment (F&F) also, I have had the congratulations letter 18/03 payment was two days prior, how long did they take to respond and give you your certificate I know mines only been a matter of weeks but the initial letter says up to ) months!
It’s really important for me to get this off my file as I’ve worked soooo hard to become debt free! I’m just wondering how long it all took ?

Other then now waiting potentially 6 months for closure cert, my experience with them has been somewhat pleasant bar one really rude man, everyone else has been really helpful.

[Foggy]

Congratulations AVAV.

Although you finished early the IVA will remain on your file from 6 years from the start anyway, so a delay in getting the completion certificate will make little difference to the big picture. That said, I realise that it is nice just to get that particular monkey off your back !

[K1ndne55]

Hiya,

I am waiting on my CC too and it’s only been two weeks so far ... lol I was quoted 6-8 weeks though.

So what does everyone use in regards to checking credit files? I have clearscore but it just says accounts and default, nothing to do with amounts?

Also I want to start building my credit score ASAP for future.. clear score said I am preapproved for a vanquis card (I researched and saw this was the best one with the worst APR). Can I get this now? Even though I don’t have the CC certificate through? I just really want to start the journey to building the credit score ASAP as I eventually want to get a mortgage for my dream home.. xx

[Foggy]

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

The best and most accurate way to check your credit files is to visit each agencies website and request a statutory report. Clearscore only reports from one agency and these reports can be up to 56 days out of date, a statutory report is live in real time..

[K1ndne55]

Thanks foggy! And what are your thoughts on whether I can apply for the vanquis card to kick start the credit building in a positive way? (Before I have the CC) xx

[AVAV]

Omg we’re in the same
Position pleaseeee let
Me know if you get yours, I mean your entitled to credit for up to £500 in theory so I’d take it out with minimal limit. Ideally though I wouldn’t take the credit out until after, I use ClearScore, mine say defaulted lots of people on here say when you get your CC you will start to see them say settled however mine do show the amounts, whilst the IVA Stays on report for 6 years I’ll be happy to see accounts settled and off the bloody public registered.

Weheee for us

[Foggy]

Thanks foggy! And what are your thoughts on whether I can apply for the vanquis card to kick start the credit building in a positive way? (Before I have the CC) xx

I am still in two minds about the Vanquis card and its cousins generally. I wouldn't apply until after the CC is issued as they are more likely to refuse you and that refusal will stain your new credit record. I applied for one after my CC was issued, but while the IVA showed on the credit files and got it with a £500 limit. Whether it helped or not I cannot say as one of the agencies said my credit score was lower than it could have been because I had such a low credit limit imposed (can't win ! ). But, I used the card to buy a few electronics and pay the statement in full, so no interest, no long term debt and still the benefit of the consumers credit card protection. I have to say that, after the IVA disappeared, I was every lender's darling and got credit cards with competitive (even zero) interest rates. I now use them occasionally, but my balance never exceeds my savings and I use the interest free offers.

[Foggy]

Omg we’re in the same
Position pleaseeee let
Me know if you get yours, I mean your entitled to credit for up to £500 in theory so I’d take it out with minimal limit. Ideally though I wouldn’t take the credit out until after, I use ClearScore, mine say defaulted lots of people on here say when you get your CC you will start to see them say settled however mine do show the amounts, whilst the IVA Stays on report for 6 years I’ll be happy to see accounts settled and off the bloody public registered.

Weheee for us

I do not believe that getting the CC automatically sees defaults marked as settled or partially settled -- it seems that different creditors do different things, but, as long as the default date is correct (on or before the start of the IVA) they will disappear, however they are marked.