Hi,
Just been checking my credit file on credit expert (for those of you on quidco its 20 pounds for the 30day trial but hurry as it ends on the 30th Sept this yr) and all but two of my creditors have ceased defaulting on the day my IVA was accepted but the other two are continuing to default on a monthly basis.
I have been looking around this great forum with reference to this monthly defaulting process and initially was just gonna leave it till my IVA was completed before starting the hassle of contacting the creditors concerned but I was thinking if its worth starting now?
I'm wondering what would you do, either send them a letter now telling them to 'roll back' the defaults to my IVA start date or just wait till the completion of my IVA....what do ya all reckon?
I would leave it until you have finished. They can still default you at the moment as you still owe them the money.
Once you've finished though they have to remove them.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
My creditors were defaulting me when I looked at my report in January and even Santander had joined the party. Not sure why as I've never had anything loans or cards with them!
Most people advise leaving it until you complete the IVA so Im going with the flow.
No real point starting now, wait until your IVA is completed and you owe them no money.
They can still mark the account every month to show the current status as in default until you complete the IVA.
Once the IVA is completed however, anything which is factually incorrect, the data controller has a legal obligation to correct once you notify them of the error. i.e. any default first registered after your IVA agreement date has to be backdated to the date of your agreement.
That way all the defaults and the IVA will roll off your credit file at the same time, 6 years from your IVA agreement date.
They must also mark the account in a way to show that no more money is due, if when the IVA is completed, you request they do so.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
Remember defaulting an account and marking it as "in default" are different things. On your credit file it should state a date of default. This you could challenge at any time if you can be bothered if it is any later than the date your IVA was agreed. The marking of your account as defaulted can continue for 6 years from the date of the default.
Little to be gained from chasing incorrect default dates until the end of an IVA but it may save you bother at the end. Its a choice thing. I am going to attempt to get egg to stop defaulting me every month because they are just being stupid!!! They are defaulting my credit card account which had £3000 ownot bothering with the loan for £13k!!!(or mrs plastcidafts £2500 credit card)
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Lombard Direct have marked me in default every month since the IVA started.
I really can't be bothered at the moment, it's not like I can get credit anyway even if I wanted to.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
