Have a read here: http://www.iva.co.uk/what-does-an-iva-d ... dit-record
Defaults will be marked settled or partially settled when the completion goes through --- but will take a month or two until the creditor tells the agency and it hits the file. Some will just leave it as outstanding. It makes no odds really as, at the end of the day it is in default, however it is marked and will also be overshadowed by the IVA being there on file. At 6 years the defaults will drop off (if correctly dated) however they are marked.
The IVA itself will show as completed once the Insolvency Service report to the agencies -- could take a few months.
But, as said before, the credit rating will be trashed with the IVA there anyway.
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