I find that an IVA is still showing as active on my credit file. We only made one payment.

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VP85

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Post by VP85 » Mon Feb 09, 2015 1:44 am
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We have an inactive IVA, we have only made one payment. We didn't owe a huge amount and after losing employment hours and a reduction in wages it seemed financially easier to pay them rather than into an IVA which at the time was expensive. All companies agreed. I find that the IVA is still showing as active on my credit statement. Although I have been in touch with the company that set up the IVA they say that they have notified all companies of our intentions and that there is nothing more they can do. Is there anything more we can do? Is there a way of getting the IVA taken off the credit score? It shows that we have 38 months to go. Any advice would be a help.
Thank you
vparker
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luluj

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Post by luluj » Mon Feb 09, 2015 4:09 am
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Once approved the iva remains on credit files for a total of 6 years. There is no early removal option. Have you received a notice of breach ?
After 3 missed paynents your IP should issue a breach notice and the iva should be closed - this would then show up on credit file for balance of 6 years.

Which company were you with ?
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VP85

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Post by VP85 » Mon Feb 09, 2015 12:45 pm
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thank you for the reply.
We were with Gregory Pennington. I didnt receive a breach letter; actually I don't remember there being much in the way of correspondence., it was mainly telephone calls. We had only paid one month into the IVA and since then we have been paying our creditors directly, with no problems.
So I understand regardless if we have paid into the IVA or not we are stuck with it?
vparker
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Sarah Jolly

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Post by Sarah Jolly » Mon Feb 09, 2015 1:35 pm
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Dear VP85

We'd like to look into this for you and see if we can help.

Please drop me an email to Sarah.Jolly@FreemanJones.co.uk with your reference and we'll get in touch.

I hope this helps

Sarah
Sarah Jolly IMA CMAP - A member of the IVA team at Freeman Jones
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VP85

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Post by VP85 » Mon Feb 09, 2015 3:17 pm
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thank you I hae sent you a message. Regards
vparker
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Sarah Jolly

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Post by Sarah Jolly » Fri Feb 13, 2015 12:16 pm
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Dear VP85

Thank you for your email.

As luluj has mentioned the IVA will impact your credit file for 6 years from the date it was accepted. Even when an IVA fails it will remain on your credit file until you reach the 6 year mark.

We will be in touch to see if we can help any further.

Thank you
Sarah Jolly IMA CMAP - A member of the IVA team at Freeman Jones
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