some creditors are still showing current balances

[angiejl21]

Hi, I started my IVA in 2004, and luckily enough my parents were able to help me out and offered a full & final payment. This was accepted and i had my certificate of completion which i sent to Experian and such.
I just recently obtained my credit report and noticed that although the fact that i have satisfied my IVA, some creditors are still showing that i have current balances with them, is this correct? Also it has been 4 years and i was wondering how long until it will be removed from my credit report?

All answers appreciated

[acsn]

Reply I got from Expedian

We note that some or all the debts shown on your report were included
in your IVA. The debts have to be shown separately to reflect how a
credit agreement was conducted before the IVA took place. We keep credit accounts on our records for six years from the date of default. When your IVA is complete, lenders should update the entries to be marked as satisfied. However, the defaults will not be removed just because your IVA is complete, they will remain for the six years.

There is no reason why the default date of an account cannot be after the date of your IVA. The date of default will be down to the individual company and their set procedures of at what point you have breached your contract with them. At this point they will default the account entry.

So some debts could be hanging around for a long time.

[whichwaynow]

I did a full and final. Now I am in the process of contacting my creditors to ask if they will update my credit file as satisfied. I sent them a certificate of completion and a covering letter. One thing to remember a lot of your debts may well have been sold on to other places , a few of mine have gone to Eversheds and it is these people who you need to contact. Getting these files updated could also help when applying for a mortgage.