I'm going through a rough patch like many I guess with partner losing her job.
Today I noticed that my credit file has 2 loans and one credit card default on it.
I was under the impression that being on the IVA meant that defaults and loans wouldn't be on our credit file or is that just when it completes.
I did also notice that one of the loans on the credit report has taken over the old debt. Why do they do this when they know you are in an IVA ?
Defaulted accounts will show on your credit report for 6 years after the date of default ( which should be the start date of the IVA ). The loans do not disappear and, if the IVA fails, will start again as though the IVA never existed.
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