defaults

[davep]

Hi my name is David, Hope everyone is well

Please can someone help me out with a default question.

My IVA started in June 2006 and 5 of my creditors defaulted my credit file in June 2006 when my IVA commenced.

However Welcome finance have defaulted my account one year later in June 2007. I challenged this with credit expert and they wrote to Welcome finance on my behalf.

I then got a reply from welcome and they pretty much told me they can default my account when they want to. Now i was under the impression this had to be defaulted post iva date.

This means my credit file will remain with defaults on my account for a further year so instead of my credit report being cleaned up in 2012 it will now be 2013 when the welcome finance default comes off.

Is this standard practice and can it be allowed.

Kind regards
Dave

[Shining]

Hi Dave as far as I was aware it wasn't normal practice to default after IVA acceptance and if you wrote to the credit reference agencies these defaults could be removed. Do stick around as a professional will be along shortly to give a more concise reply.

[kallis3]

A lot of companies will continue to default after the IVA has been approved, one of mine does it every month!

Not worth doing anything at all until the IVA is completed, after which you can write to the creditors and tell them to remove those defaults.

Don't forget that you owe the full amount to your creditors until the IVA is completed.

Welcome to the forum by the way.

[davep]

Hi Lesley

Thank you for your reply.

That is was what i thought and that is why i have been in a right strop over it today haha. I have spoke to the office of fair trading and consumer credit they both couldnt help and passed me onto debt helpline and they told me they is nothing in writing that he could see that states a default has to be recorded at a certain time. My IVA company as well were very kinda errmm well errm so not really any further forward haha

Regards
Dave

[davep]

Hi Kallis

What if they wont remove the defaults, as they have to be kept on credit file for 6 years. It just winds me up when i dont know the truth haha

[Shining]

Hope you get it sorted Dave it can be frustating I do agree but to be honest I've never chekced mine but will do no conclusion of my IVA which isn't for a while yet and then hopefully sort it then.

[kallis3]

They have to remove them - they should not be put on once your IVA has been approved, but once the debt has been settled, you just need to send them a copy of your completion certificate and ask them to remove them.

[andy9848]

Dave
Same problem here all defaults are at start of ive but one company 9 months later !!
I share the same frustrations

[kallis3]

Don't worry about it until the IVA is concluded, then get them to sort it out. At least you will have a completion letter which you can copy and send to any creditors who have defaulted you.

[clearskys]

Hi
I hope someone can help me I took out an IVA in June 2006 and completed it by lump sum June 2009. Since I have been checking my credit files as hoping to buy a house when can save up deposit i can get a mortgage . After some correspondence back and for I have manged to get all debts shown as satisfied and default date at comencement of iva.But I have one debt Max recovery purchased which they placed on my file in 2009 and are showing the default debt as 2009. I have writtent to credit reference agencies several times who have gone back and for to max recovery and tell me data is confirmed as correct .I have spoken to Evershed couple of times who advbiose me yes debt incuded in iva and they have advised credit refernce agenies of current status ?So where do I go from here I seem to be going around in circles and getting no where .I had 12 debts and the only issues I have had are with the ones Max recovery purchased. If deafults stay on for 6 years this one will be on for 3 years after my iva . Please advise I was hoping now i could look for a fresh start and also advise when would be a good time for me to have any chance of a successful mortgage application?

[kallis3]

Hi and welcome to the forum.

You need to write to Max Recovery/Eversheds and enclose a copy of your completion letter and tell them to remove any defaults lodged after the date your IVA was completed.

They have to remove them once completed.

Bear in mind that your IVA will remain on there for six years from the date it was accepted, regardless of when it completed.

[clearskys]

Hi

Thank you and thank you for replying. They have had the certificate and advise me they have updated their system they put that in writing though they dont detail what staus is on refer to the one debt in particularly , But credit reference agencies keep telling me this is the information Eversheds have given them .What do I do ?

[kallis3]

Have you had a recent update from the credit reference agencies as to your status?

They have to remove any defaults after the date of IVA approval. It is up to you to inform the creditors, not the CRA.

[newbeginings]

Good luck with getting this sorted.

[kallis3]

Andy - don't worry about the defaults now as your credit record is well and truly shot.

I have one company defaulting me every month. I shall not be doing anything about it until my IVA is completed.

Then I will be going in with all guns blazing!