Creditor in my IVA never defaulted my Account.

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Waitingforship
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by Waitingforship » Sat Jul 01, 2017 12:50 am
Good morning All.

I entered into an IVA in November 2012. One of my creditors CAHOOT who has never made a claim but who my IVA company confirm are included in my IVA are not showing my closed account as in default, but rather as a 4 (I.e. At least 4 missed or late payments). According to my free trial on CheckmyFile.com this will be reported on until 2021 and therefore have a negative effect on my credit record until 2021. I was hoping that when my IVA Concludes in 2018, 6 years from the start of IVA, I would be able to to have a clean report.

Am I able to force a default from CAHOOT and have it start at my IVA commencement date and therefore drop off at the six year point with the rest?
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Foggy
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by Foggy » Sat Jul 01, 2017 8:50 am
I am not sure if you can force a default, but would suggest writing to Cahoot's Data Controller to ask if they would, in line with industry practice, default your account as of the start date of the IVA and, at the least, report it as settled on completion of the IVA. Then, depending on the result, escalate to the Financial Ombudsman for a ruling.
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Waitingforship
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by Waitingforship » Sat Jul 01, 2017 9:09 am
That's the strange thing Foggy. It is showing as settled in 2015. However it will continue to be reported to the credit reference agencies until 2021 and therefore adversely affect my credit record for 3 years longer than all the defaults which will drop off at the six year mark in 2018. If I can't get this sorted I feel like the whole IVA will have been for nothing.

I will do as you suggest and contact their data controller.
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Foggy
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by Foggy » Sat Jul 01, 2017 10:26 am
Waitingforship wrote:
That's the strange thing Foggy. It is showing as settled in 2015. However it will continue to be reported to the credit reference agencies until 2021 and therefore adversely affect my credit record for 3 years longer than all the defaults which will drop off at the six year mark in 2018. If I can't get this sorted I feel like the whole IVA will have been for nothing.

I will do as you suggest and contact their data controller.



The IVA would not have been for nothing, really. You will only have the one default, showing as settled, rather than quite a few more and, if you are like me, you will not be going for much credit anyway for a while, so, eventually you will still get that clean record. And, credit files apart, your money is now all your own --- no credit card bills darkening your doorstep and no huge interest payments to make :-) You are still debt free :-)
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Waitingforship
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by Waitingforship » Sat Jul 01, 2017 11:31 am
You are right of course Foggy and I'm being overly dramatic. It's just very frustrating that I find my credit will be wrecked for a further 3 years. I don't intend to suddenly use loads of credit when I complete but I may wish to move house etc.
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magicsam
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by magicsam » Sun Jul 02, 2017 1:16 pm
Coincidentally I am in exactly the same position as yourself (I even entered my IVA in November 2012) as one of my creditors has a debt marked as partially satisfied in Jan 2015. I did not get any response to my complaint from their data controller and have now raised a complaint with the Information Commissioners office (ICO). They informed me last week that they had written to the creditor asking for an explanation, I will let you know how I get on. ICO guidelines do indicate that debts included in an IVA should be defaulted on a date not later than the start of the IVA, I will try and dig out the exact wording but I do not have the document to hand at the moment.
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magicsam
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by magicsam » Sun Jul 02, 2017 1:30 pm
Found it

"Relationship of defaults to CCJs, decrees, bankruptcies, IVAs and similar
arrangements

A default can be registered for debts which the lender has also tried to recover through a
CCJ or decree.
In normal circumstances lenders will be notified when the debt that is owed to them is to be
included in an insolvency e.g. bankruptcy, IVA or similar and should be marked as included
in that by filing a default as soon as is practical.
The default date must be consistent with that of the CCJ/bankruptcy or IVA; therefore a
default should be filed as being no later than the date of the insolvency order. In
circumstances where the lender is not immediately aware, the default can be filed at that
point in time. If evidence of the insolvency date is provided, the default date recorded at the
CRA will be aligned.
If a default has already been filed and a CCJ or other insolvency or similar is subsequently
registered, no further action is needed.
Where there is joint liability and only one party is the subject of an insolvency order, then the
account should not automatically be marked in default if it is being maintained by the other
party. "
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Waitingforship
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by Waitingforship » Mon Jul 03, 2017 6:51 am
Thanks for this MagicSam. I'll be very interested to know how you git on. It's taken me the best part of the weekend to get the address for the data controller at Cahoot but I have it now so will be writing to them today. Registered post of course.
As a matter of interest where did you get the document you quoted? I.e how do I get hold of the ICO guidelines? So glad I found out now and not in 16 months time. It at least allows us a little time to rectify whilst our credit score is still trashed.

Thanks again.
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magicsam
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by magicsam » Mon Jul 03, 2017 11:38 am
Hello,
You can find a link here https://ico.org.uk/for-organisations/finance/ I will let you know how my complaint proceeds.
The is the last of two problems I have had and in my limited experience the companies have only responded when I got ICO involved, I don't know what will happen if the creditors don't play ball but I guess we will find out. I will report back if I have any news.
Good luck getting things sorted
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Waitingforship
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by Waitingforship » Mon Jul 03, 2017 11:17 pm
Thanks so much for the link MagicSam. Good luck to you too buddy.
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Waitingforship
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by Waitingforship » Mon Jul 24, 2017 9:03 am
Quick Update.

So I managed to get hold of a real person and quoted the ICO Guidelines and CAHOOT have now defaulted my account with a default date which matches my initial creditors meeting. This will mean that my credit report should be clear at the 6 year mark instead of the extra three I was looking at. Thanks to all for your advice again. 15/72 to go.
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kallis3
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by kallis3 » Mon Jul 24, 2017 9:09 am
Good news - it pays to complain!
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magicsam
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by magicsam » Mon Jul 24, 2017 5:38 pm
Excellent, glad you got it sorted. I still have one complaint ongoing but I'm confident everything will be in order by the sixth anniversary of my IVA so not overly concerned at the moment.
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Waitingforship
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by Waitingforship » Mon Jul 24, 2017 9:28 pm
Nice one MagicSam. I think we're due to finish about the same time. That's assuming you have to do the extra year too. Still light at the end of the tunnel is almost visible mate. Good luck.
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Ryan
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by Ryan » Tue Jul 25, 2017 7:53 am
I notice that you say you checked your reports on Checkmyfile - it is worth at some point checking all 3 reports (Experian, Equifax and Noddle/Callcredit) individually as Checkmyfile only has access to limited information so sometimes it does not show all the credit agreements from all 3 reports.
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