marking credit files with correct information

[barry68]

Hello, my 'IVA' was completed on 01/10/07 with a 'First and Final' payment. The 'IVA' started on 07/10/03. After checking my Credit reports with 'Experian' & 'Equifax', I noticed that none of the accounts within the 'IVA' had been shown as 'Saisfied' or 'Partially Settled'.

I sent all of the creditors a recorded letter requesting they mark the accounts as 'Satisfied' or 'Partially Settled' and also asked them to show the default date as the same date as the start of the 'IVA'. I used a template letter from the 'Consumer action group', with reference to the 'Data Protection Act and the 'Information Commissioner', I sent them all copies of the start of the arrangement and the end of the arrangement.

Today, I received two letters from a company called 'Capquest Debt Recovery'. (They had purchased two debts from Inteligent Finanace, even though Intelligent Finance had voted 'yes' to my IVA. This company contacted me about 2 years ago and I informed them the debts they purchased were included in my 'IVA'. They refused to accept this at first but after my 'IP' contacted them I have not had any contact until today. Now I've recieved two letters stating that my accounts are being processed for legal action, the letter is apparently a personal promotion from the managing director 'Mike Daniels'. He states I could agree a direct debit payment of £50 per month and they will waive any interest that has occured since they purchased the debt. Also, if I agree to do this then they will apply a 30% discount to my account for every £50 payment I make thus saving me £3393.48 & £1884.67 respectively. He finaly say's 'I hope you seriously consider this and make the right choice'. Then his signature is photocopied onto both letters.

I know they are probably trying their luck but how can this company get away with this and is there anything for me to worry about?

Also, how likely is it that they will eventually mark my credit files with the correct information and can they really be forced to do this by the 'Information Commissioner'? Thank you in advance, Barry.

[Adam Davies]

Hi Barry
Firstly you have nothing to worry about,the debt is not outstanding.
I suggest a letter to Mr Daniels with a copy of your completion certificate.
In think that you are better to just send your completion statement to the credit reference agencies and let them update your file,also by waiting until Oct 09 all records of your IVA and defaulted accounts should be off your file.
Regards

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

[barry68]

Thanks Andy,
I was pretty sure that this company were trying it on. I have to wait until Monday to contact the 'IP' who dealt with my arrangement.

As for writing to 'Mr Mike Daniels', I think the reason I got these letters were because I wrote the the 'Data Control officer' at the company with copies of all the relevant paperwork(including my completion statement), as I did with all the other companies.

As for the credit reference agencies: Experian were very helpful and contacted all concerned but they all said I had to contact them in person so Experian said they could not change the credit files without the companies permission. As for Equifax, they wouldn't contact any of the companies, they initialy refused to mark my 'IVA' as settled, even though I sent them a copy of the completion and so did my 'IP'. They also said that the companies had no obligation to mark the accounts as settled or change the default dates to match the 'IVA. I have since found out that this is incorrect.

Capquest have received a payout from my 'IVA' but they are not indicating this on the letters they sent me and they state they were still charging interest. I thought that when in an 'IVA' all interest and charges ceased. My main concern is my wife, she is 7 months pregnant and is starting to worry after seeing these letters today(I was at work). Would contacting 'Intelligent Finance' with a letter stating that they are legaly responsible for correcting my credit file and contacting the company they sold the debt too be a good idea? I checked on the internet and it seems this company is a nightmare and harass people all the time.

[cul8tr]

Dont forget if you're gonna contact the credit reference agencies in future - ensure you contact CallCredit which is the third credit reference agency in the UK. Unfortunately you need to approach all three to rectify and records that you want amending.

[Adam Davies]

Hi
I am not sure on the credit reference front as to what creditors have and have not got to do.
However I do know that Capquest,as part of the IVA,are bound by the terms and can't charge interest.
Write to them with a copy of your certificate and let us know how you get on.
As your IVA has only recently been settled it may take a while for this to filter through but rest assured that your debts are settled,as long as they were included in your IVA
Regards

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

[bagpuss]

I have found Experion more helpful than Equifax....Experion will contact your creditors (ex) and ask for them for permission to settle the account. All mine are now showing as they should but my other halfs still had an outstanding balance showing for Egg....so i rang them and they said they would look into it. The next day i got a letter saying they had contacted egg and the account would be updated within 7 days. cant say fairer than that.

Reminds me..i had better cancel the 1 month free trial with them before i charged...xx

Angie xx


My IVA Story......http://bagpuss.blogs.iva.co.uk/2007/09/ ... iva-story/

[barry68]

My other concern is that Capquest were sold the debt by Intelligent Finance. So Intelligent Finance were included in the IVA but Capquest were not. Can someone confirm that a debt that was included in an IVA and then sold on to a different company, is still legally bound by the conditions of the IVA.
Thank you,
Barry.

[Adam Davies]

Hi
Yes it is,100%
Regards

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