I have a number of closed accounts on my credit file

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chrisc
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by chrisc » Tue Aug 01, 2017 1:21 pm
I have a number of closed accounts on my credit file that were all included in my IVA, which began in May 2012. All have defaults added monthly up until the IVA was settled in 2014. Will all these defaults disappear automatically in May 2018 (6 years from IVA start) or do I need to do something to get them removed?
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Foggy
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by Foggy » Tue Aug 01, 2017 1:26 pm
There is ony one default per loan --- this should be dated on or about the date the IVA started and will disapear at the 6th anniversary. The mark every month is merely a report that the default still exists, it is not a new default.

Have a read here:

https://www.iva.co.uk/what-does-an-iva- ... dit-record
chrisc
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by chrisc » Tue Aug 01, 2017 1:31 pm
Thanks for the reply. So all the monthly default markers will disappear once the original default is over 6 years old? If that's the case then all should be ok.
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Foggy
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by Foggy » Tue Aug 01, 2017 1:48 pm
chrisc wrote:
Thanks for the reply. So all the monthly default markers will disappear once the original default is over 6 years old? If that's the case then all should be ok.


Yes, that is how it should happen ( and did with me)
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Ryan
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by Ryan » Tue Aug 01, 2017 1:49 pm
Hi Chris,

Yes, as Foggy says they will drop off 6 years after the default date.

Regards
chrisc
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by chrisc » Tue Aug 01, 2017 1:57 pm
Great, thanks chaps
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Lisa Thomas
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by Lisa Thomas » Tue Aug 01, 2017 2:50 pm
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/

All should automatically drop off in May 2018 so I would wait until then t see if they do...
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