Certificate of Completion - What now??

[kandh]

Following our variation meeting on 17th September we have today received the Certificate of Completion!!!!!

Just a couple of questions now though...... we obviously want to send off this certificate to the Credit Reference Agencies. Do we send a copy to all 3 or just the major 2? Also what do we put in the letter to them? Reason I ask is that a couple of the creditors are still reporting to the agency each month. Does this mean that it will still be on the record for 6 years from now or will it drop off with the others from the original date of Dec 2004. None of the entries state that it was part of an IVA. Do we have to list all the creditors and the accounts that were covered by the IVA to the agencies so they can put a note on each?

Sorry for all the questions but this is the final part now on a very long road and we would just like to make sure we do everything right.

Kerri x

[Storm]

Send to all 3 agencies and they will amend the IVA flag.

The creditors should stop reporting.

The item will remain on the report for 6 years from the final update (when the creditor stops reporting)

Credit scorecards don't really look at payment history > 2 years old so although it is there your credit profile will start to get better over the next 24 - 36 months with responsible use of credit.

[Adam Davies]

Storm
If you send in your certificate,as I have done,and the agency updates your file is it possible that their update will remain on your file for six years ? Or will it definitely be from the start of the IVA ?

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Storm]

It shouldn't...... as the Information Commissioner has ruled that an IVA flag should only show for 6 years from the start of the arrangement.

What will show is any accounts that continued to report during the IVA.