font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by TabHi Tab with what I have just experienced the latest default dates should actually be the start date of your IVA. In my case the default date was changed from the original 2006 to 2008.
This has always confused me, my iva is completed about a year early so I am tying to clean up my file, some of my default dates are 3 to 4 months after the start of the IVA ! Do I send my completion certificate to the CRA's and ask them to change it or to each company direct that the default date is wrong on.
Also my Insolvency against me is now marked as settled/completed etc but still shows on my file, will that also be removed after 6 years ?
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by bry995An excellent post with loads of vital information which has been especially helpful to me today, perhaps you could give me some advice regarding this scenario.
Hi all, as a long time reader of this forum, I thought it was time to post. I finished my IVA in February 2012 successfully with a F&F.
I've never had any intention of getting out of the fire and rushing to start another, but I decided to obtain my credit files to see what it looked like, you know - the place you so didn't wanted to go anywhere near as you didn't need them to tell you how bad it really was.
Anyway, I'm finally sorted with my credit files, its taken months to get the information corrected and at some cost too, but I now know that 6 years from day 1 of the IVA, my file will be fully clear.
Here's my advice.
There are three credit reference agencies in the UK,
Experian - (Credit Expert) www.creditexpert.co.uk
Equifax www.equifax.co.uk
Call Credit www.callcredit.com
You have a legal right in accordance with the Data Protection act to obtain information they hold about you. Each of them will try sell you some kind of formal monitoring service, or monthly subscription, normally with the first month free.
If you have not taken up their free offer, I would suggest you save this until the IVA is complete. You may need it to check the information has all updated.
Instead, opt for the statutory £2 report. You can get your credit file instantly with Equifax and Call Credit (Experian will snail mail you a PIN to go online and obtain the report) - likely to be punishment for not taking their premium service!
Two very important marks on your credit file that you can check whilst in an IVA are the default date and the IVA start date. You must ensure both of these dates are set correctly. Getting these set correctly sooner rather than later will ensure that if debt is sold, its not a nightmare getting the old company to fix it!
Your IVA will remain on your credit file for 6 years from the start date.
Your defaults will remain on your credit file for 6 years from default date.
I would recommend...
1 - Obtain your statutory credit reports from the three agencies.
2 - Check the dates on the file are correct, and that no default dates are showing after the IVA start date.
3 - Ensure all your credit agreements within the IVA are showing as defaults, otherwise this will add another 6 years poor credit post IVA unless fixed.
4 - Sale of debt, most likely your creditors have sold their debt to another company. Ensure that the original debt has been reported as "settled". The new creditor will be reporting their own record.
5 - Remember the default date is not always the date you get the notice of default letter, its normally 28 days later. Check with your creditor if you think the date is incorrect.
6 - If something is wrong, its likely to be wrong on all 3 of the credit reference agencies (but not all creditors report to all 3 of them, so don't worry if you cannot locate the same information on another report). Always approach the creditor reporting the information first. If they agree to fix it, they will fix it on all the reference agencies. If they are unhelpful, you will need to log a complaint with each of the agencies.
Finally - persist! - If you feel the information is wrong, chase, chase and chase again. They are time bound to correct information. Ask them for the service level timescales when making the complaint. Keep full notes on what day you called, who you spoke to and what was agreed. Trust me, you will need every detail discussed if you need to esculate the issue.
Most important - Once you get a nice and clean credit report your proud of - don't mess it up again!!
I'm happy to help anyone stuck with this big brothers! its taken up most of my free time for the past few weeks!!
Good luck everyone.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by bry995
Hi all, as a long time reader of this forum, I thought it was time to post. I finished my IVA in February 2012 successfully with a F&F.
I've never had any intention of getting out of the fire and rushing to start another, but I decided to obtain my credit files to see what it looked like, you know - the place you so didn't wanted to go anywhere near as you didn't need them to tell you how bad it really was.
Anyway, I'm finally sorted with my credit files, its taken months to get the information corrected and at some cost too, but I now know that 6 years from day 1 of the IVA, my file will be fully clear.
Here's my advice.
There are three credit reference agencies in the UK,
Experian - (Credit Expert) www.creditexpert.co.uk
Equifax www.equifax.co.uk
Call Credit www.callcredit.com
You have a legal right in accordance with the Data Protection act to obtain information they hold about you. Each of them will try sell you some kind of formal monitoring service, or monthly subscription, normally with the first month free.
If you have not taken up their free offer, I would suggest you save this until the IVA is complete. You may need it to check the information has all updated.
Instead, opt for the statutory £2 report. You can get your credit file instantly with Equifax and Call Credit (Experian will snail mail you a PIN to go online and obtain the report) - likely to be punishment for not taking their premium service!
Two very important marks on your credit file that you can check whilst in an IVA are the default date and the IVA start date. You must ensure both of these dates are set correctly. Getting these set correctly sooner rather than later will ensure that if debt is sold, its not a nightmare getting the old company to fix it!
Your IVA will remain on your credit file for 6 years from the start date.
Your defaults will remain on your credit file for 6 years from default date.
I would recommend...
1 - Obtain your statutory credit reports from the three agencies.
2 - Check the dates on the file are correct, and that no default dates are showing after the IVA start date.
3 - Ensure all your credit agreements within the IVA are showing as defaults, otherwise this will add another 6 years poor credit post IVA unless fixed.
4 - Sale of debt, most likely your creditors have sold their debt to another company. Ensure that the original debt has been reported as "settled". The new creditor will be reporting their own record.
5 - Remember the default date is not always the date you get the notice of default letter, its normally 28 days later. Check with your creditor if you think the date is incorrect.
6 - If something is wrong, its likely to be wrong on all 3 of the credit reference agencies (but not all creditors report to all 3 of them, so don't worry if you cannot locate the same information on another report). Always approach the creditor reporting the information first. If they agree to fix it, they will fix it on all the reference agencies. If they are unhelpful, you will need to log a complaint with each of the agencies.
Finally - persist! - If you feel the information is wrong, chase, chase and chase again. They are time bound to correct information. Ask them for the service level timescales when making the complaint. Keep full notes on what day you called, who you spoke to and what was agreed. Trust me, you will need every detail discussed if you need to esculate the issue.
Most important - Once you get a nice and clean credit report your proud of - don't mess it up again!!
I'm happy to help anyone stuck with this big brothers! its taken up most of my free time for the past few weeks!!
Good luck everyone.
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