Hello.
I successfully completed my IVA in October last year, just over two years after starting it (thanks to a full and final settlement offer from a redundancy payout).
On looking at my credit report today I find that only one of the creditors has marked the debt as "satisfied". All the others state I still have outstanding balances with them.
I was under the impression that once the IVA was complete, the debt was settled.
I understand a "default" remains on my account for six years, but I thought creditors were legally obliged to state on my credit report that I did not owe them anything more.
Am I correct?
Thanks.
David
hi
the best thing to do is to contact you ip and then tell them which of your crediters as not marked you file satisfied and they would be able to help you
However, it is not down to your IP to contact these creditors, you need to do it yourself.
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
However, it is not down to your IP to contact these creditors, you need to do it yourself.
Was going to say, I was under the illusion that it would be our job to contact them not the IP's.
But why are these companies not stating that these debts are satisfied? What if they refuse to state the debt as satisfied after the agreement?
I know these are the questions I should have asked when going into the IVA but they don't cross your mind until it happens!
If Football was meant to have been played in the air then God would have put Grass in the Sky
Have you written to the creditors who are still showing a balance with a copy of your Completion Certificate asking them to update your Credit Reference Files to show 'satisfied' with a zero balance?
If they don't comply, send a follow up letter stating that the matter will be passed to the ICO if they do not update within 28 days.
You need to write to the creditors involved and then the ICO if they don't comply. Send the letters by Recorded Delivery so that you have proof they have been received in case you need to write to the ICO.
Thanks for all your help. I am now in the process of writing to each of the creditors with the relevant proof.
I had a quick chat with my IP and she said they can be rather slow to update things.
It's a bit galling when the creditors accepted the settlement offer and received their cash, so must be aware it's over and done with.
Anyway, I'll do the necessary and hopefully that should sort it.
One more point, though. I'm sure I read on here that creditors could not default you after the IVA had started.
On checking my credit report I find more than half of them did.
sorry skippy what i mean is when all completed ivas and dmps and ccjs how long does it stay on there computers of the banks and third party companys like max recovery before it gets remove and they forget to update credit files of the debter
There should be no defaults on your file after the date your IVA was accepted by creditors. If there is any defaults logged on your CF after this date, then write to the offending creditors requesting they be removed/adjusted, and in the same letter give them a period of 28 days to correct; otherwise your next course of action will be to report their actions to the Information Commissioner.
cleardebtsmile wrote:
Thanks for all your help. I am now in the process of writing to each of the creditors with the relevant proof.
I had a quick chat with my IP and she said they can be rather slow to update things.
It's a bit galling when the creditors accepted the settlement offer and received their cash, so must be aware it's over and done with.
Anyway, I'll do the necessary and hopefully that should sort it.
One more point, though. I'm sure I read on here that creditors could not default you after the IVA had started.
On checking my credit report I find more than half of them did.
Posted - 22 June 2010 : 19:57:42
There should be no defaults on your file after the date your IVA was accepted by creditors. If there is any defaults logged on your CF after this date, then write to the offending creditors requesting they be removed/adjusted, and in the same letter give them a period of 28 days to correct; otherwise your next course of action will be to report their actions to the Information Commissioner.
hi
after the crediters meeting if the agree to to iva it gets put on your credit file rightaway and then count 6 years for it to come of your file
