When will my credit record be clear?

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Neil.dw
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by Neil.dw » Thu May 03, 2018 3:39 pm
I've been in an IVA since September 2012 which has lasted for 6 years due to not owning our own property after missing a few payments this has been extended to January 2019.

I've been reading that the IVA stays on credit records 6 years after it started so would that mean as soon as the IVA has finished my credit records will/should be clear?
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kallis3
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by kallis3 » Thu May 03, 2018 3:49 pm
Did you have a mortgage? If not you should not have had to extend.
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Neil.dw
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by Neil.dw » Thu May 03, 2018 3:52 pm
We was suggested by DFD at the time that due to not owning our own house, they would only arrange an IVA for 72 months (6 years)
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Shaun Vickery
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by Shaun Vickery » Thu May 03, 2018 3:57 pm
The IVA will stay on your credit file for 6 years, or until it is settled if that is later. Sometimes it can take a few months before the Insolvency Register is updated so probably there will be a slight delay.
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kallis3
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by kallis3 » Thu May 03, 2018 4:03 pm
Personally speaking I don't think you should have had to extend if you were renting.
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Neil.dw
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by Neil.dw » Thu May 03, 2018 4:08 pm
Shaun Vickery wrote:
The IVA will stay on your credit file for 6 years, or until it is settled if that is later. Sometimes it can take a few months before the Insolvency Register is updated so probably there will be a slight delay.



Is that from the day when the IVA started?

Thanks
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Shaun Vickery
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by Shaun Vickery » Thu May 03, 2018 4:13 pm
Sorry Neil, I wasn't very clear in my response....yes 6 years from commencement.

Kallis I think from Neil's original post it was extended due to missed payments.....Neil?
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kallis3
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by kallis3 » Thu May 03, 2018 4:27 pm
Could be - depends on how many payments were missed.
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Neil.dw
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by Neil.dw » Thu May 03, 2018 4:35 pm
Shaun Vickery wrote:
Sorry Neil, I wasn't very clear in my response....yes 6 years from commencement.

Kallis I think from Neil's original post it was extended due to missed payments.....Neil?


Yes that's correct extended due to missed repayments
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luluj
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by luluj » Fri May 04, 2018 3:41 am
So once your final payment is made the iva should clear relatively quickly once completion process concluded.
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Foggy
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by Foggy » Fri May 04, 2018 6:37 am
It will take a few months to issue the completion certificate and then another few to come off the Insolvency Register ... then it will clear from the CRA's records.
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