General questions about credit rating

[Rhbjones]

Hello

I have tried to search for this answer but not been able to find the answer!

My IVA is due to complete in December 2010, (i cant wait) Mine was over 6 years as i got into arrears. I know it comes off your credit report after six years, My IVA was approved in August 2004, so in August 2010, it should come off my credit report, but i will still be in my IVA, what happens there? obviusly i wont be getting credit again, but want to start improving my credit report for the future.

Also does an IVA ever completely go from your credit file, or is it there a black mark against you for life?

Thanks
Rich

[MelanieGiles]

The entries will probably drop off your credit files at the six year point, but definately once the IVA has been concluded.

[Rhbjones]

Thanks Melanie

[kallis3]

As soon as the 6 years is up, order a copy of your credit file from the three agencies, Experian, Equifax and Call Credit to see what is registered. You may find that some creditors have placed default notices on there after the date you were approved.

If there are any on there, you need to write to your creditors to ask them to remove the defaults as they are not allowed to put them on after the date of approval.