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ridingthestorm
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by ridingthestorm » Sun May 21, 2017 7:49 pm
Evening wise ones

My IVA ended on 8th May with a F&F being excepted.... Soooo happy... But what time frame am I looking at before my credit report shows changes, like debts settled etc I know my defaults are on for 6 years.....

TIA

Mike
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Foggy
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by Foggy » Sun May 21, 2017 8:26 pm
Hi Mike.
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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ridingthestorm
Posts: 207
by ridingthestorm » Sun May 21, 2017 8:41 pm
Hey foggy, your a legend as always with your knowledge.

Thankyou mate

Mike
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Lisa Thomas
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by Lisa Thomas » Tue May 23, 2017 12:26 pm
Well done on reaching the finish line!

You might find this quick video I made about cleaning up your credit record useful:

https://www.youtube.com/watch?v=PV4RzUY4BRM

Noddle and Clearscore are also free credit agencies to consider using:

https://www.noddle.co.uk/
https://www.clearscore.com/
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