Made my last payment for IVA with GT Dec 2014 - still awaiting Completion cert. In the meantime i thought i better check my credit score as assumed it would be really awful. I requested it through Experian and wasnt expecting what showed on my PC....my score is 972 out of 999-which is rated as Excellent?!?!
Ive checked it thoroughly for accuracy and its correct showing all my current bills, and the ones defaulted on through my IVA. Also shows ex wife making payments on joint mortgage (my name is stuck on former matrimonial home while i fight legally to remove it)...perhaps this could be whats influencing my rating?
Any ideas why my score is so good and also why my some of those defaulted lenders are adding interest to their amounts despite them all being in my IVA? I thought they should be making claims to GT etc?
This isn't really something I know too much about so hoping this will bump up for you and someone else will reply - Foggy seems to know a lot on the subject!
The numerical credit score is really meaningless as creditors will go by your history not a prediction by the CRA, which I don't believe they see in any case.
Lenders all treat defaulted accounts differently. Some set up a dummy account for the IVA dividends to go into while the real account rumbles on in the background, all but ignored, until it is finally written off. As with defaults some will mark the account closed or satisfied, some will mark partially satisfied, whilst others leave it open.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Dam, and double dam! And theres me believing i had a good rating..thought it was too good to be true. Appreciate your comments Foggy. That explains alot. Now i need to deregister with Experian as only have a 30day trial before they start charging.
Thanks again.
Regards
