co-op loan defaults still on credit report?

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colin178
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by colin178 » Fri Jun 16, 2017 5:41 pm
Hi everyone,

I completed my IVA in March 2016 using F&F offer (IVA started Sep 2013). I have just looked at my credit report on Experian and have noticed that 2 loans I took out through Co-Op bank are still active defaults even though they were partially settled through the IVA. All other defaults relating to the IVA say "Default Status - Partial Settlement", yet these 2 loans have nothing against them and display an amount outstanding. Has anyone had any experience with this or know the way forward?

Thanks
Colin
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Foggy
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by Foggy » Fri Jun 16, 2017 6:26 pm
Basically it doesn't matter -- as long as the defaults are dated around Sept 13 they will fall off the record in Sept 2019, regardless of how they are marked. You can insist that they correct the status, but, to be honest it would be a waste of a stamp. Have a read here:

https://www.iva.co.uk/what-does-an-iva- ... dit-record
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Ryan
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by Ryan » Mon Jun 19, 2017 7:29 am
For the Lenders it doesn't really make any difference to be honest if the defaults are marked as satisfied or not they treat it the same way. As has been said they will be on the reports for 6 years from the start date.

Regards
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Shaun Vickery
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by Shaun Vickery » Wed Jun 21, 2017 1:41 pm
Just make sure that the default dates for any debts included in your IVA are not later than the date of your IVA - if they are you should get them corrected.
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