interesting reading about defaults, from the ICO

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TheMatrix

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Post by TheMatrix » Fri Sep 03, 2010 7:04 pm
From the Information Commissioners Office...

http://www.ico.gov.uk/upload/documents/ ... %20doc.pdf

This document was referenced in the attachments for my letter to get default dates corrected.
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tonyranks

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Post by tonyranks » Sun Nov 13, 2011 12:22 am
what does this mean, that iva dont have to be marked as ssettled or satisfied?? is my understanding after completion
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kallis3

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Post by kallis3 » Sun Nov 13, 2011 8:00 am
Reading that it looks as though the companies can just mark the file as partially settled.

At least it does say that they have to put default dates back to the date of IVA acceptance.
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Grumple

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Post by Grumple » Sun Nov 13, 2011 4:19 pm
My uderstanding was that everything would be settled/satisfied after the 6 years all would drop off the credit file. Our credit files are now sprinkled with settled from 10/2011 but with a partially satisfied comment attached.

I have a horrible feeling that this will remain on our file for another 6 years, going from the research I have done on the internet. Makes me wish we had gone bankrupt - not really much benefit in being in an IVA if it follows you around for so long or perhaps we should have left our credit file well alone.
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kallis3

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Post by kallis3 » Sun Nov 13, 2011 4:34 pm
Once mine is finished then I will be fighting tooth and nail to get mine sorted so that at least it is back to zero.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
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mattyboy

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Post by mattyboy » Sun Nov 13, 2011 10:58 pm
I'm subscribed to the online report monthly with the CRA's. Mine all say that they will drop off automatically without any need to presumably be requested by me. I'm gonna wait and see what happens at the six year mark and deal with any issues then rather than involve myself fighting battles now. Hopefully it will all sort itself out.
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lem

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Post by lem » Mon Nov 14, 2011 2:21 pm
Well I certainly hope this is not the case, considering the OP was in
2010 and I was told by my IP that the IVA drops off your credit file after 6 years from date of acceptance only this year when I took my IVA out I will be extremely unhappy if I now discover once this is over my file is affected for another 6 years
 
 

kallis3

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Post by kallis3 » Mon Nov 14, 2011 8:27 pm
The IVA will drop off after six years. You will need to get defaults set back to the date of acceptance but you won't be affected for a further six years.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

Grumple

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Post by Grumple » Mon Nov 14, 2011 11:54 pm
I am finding this thread extremely interesting. I appreciate that the IVA will drop off the file after 6 years but if a satisfied S has appeared on the file in Oct 2011 with an attached partially settled - will the partially settled not stay on for a further six years from that date? The ICO says that creditors can mark accounts as partially settled but doesn't say from what date. If we will be penalised for another 6 years we will basically be stuffed - no mortgage, no rent - nothing.
It's been a long road getting from there to here but it's been worth it!
 
 

Ryan

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Post by Ryan » Tue Nov 15, 2011 11:32 am
Hi, the defaults will drop off after 6yrs, from the date they are registered, whether satisfied or not. Always best to check your credit file to make sure though.
Hope that helps
Ryan Radford
IVA Mortgage Expert
Zebra Money Centre

IVA Mortgage advice needed? Looking at Right to Buy and completed IVA still on credit files ?

Contact me at http://www.ivamortgageexpert.co.uk or via the expert page
 
 

kallis3

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Post by kallis3 » Tue Nov 15, 2011 11:48 am
Welcome to the forum Ryan, nice to see you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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