Good evening all,
When does the 6 years start to clear Credit report?
Further to my post a few days ago re car finance we decided to look at our report today held by Equifax and signed up for the 30 day trial.
In brief: we have 3 entries that we weren’t expecting to see; the first is with GE money. It shows 2 years worth of monthly payments (late by 6mths) that were mid IVA term leading to a settlement date of March 2013 and two further entries by PCO Holdco for sums of money which were paid in the arrangement.
It is stated that these were settled in Jan 2016 which happens to be the date of our CC - 05 Jan 2016.
I called Equifax and was told that the entries stay on my report for 6 years after the settlement date and was told that GE money will remain until March 2017 and the 2 Holdco ones until Jan 2022.
I was under the impression that the 6 year point was the day 6 years on from when the arrangement started??
We had other credit which went into the IVA and there is no sign of them nor our agreement itself so it just looks as if we have defaulted on our commitments which we never really did as we went into the IVA. Our score is poor (335) and it says that we are a risk!
Agree with Foggy - whoever you spoke to was talking rubbish and it is six years from the start of the IVA.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I spoke to someone called Dorothy in some far out land!
I have looked back at my credit file:
re GE money, it shows that the Jan and then Feb (2010) payments were late by 1 month and March is then in red (up to 3 mths late). I assume that I defaulted then.
Re the other 2. there is no record showing of when I defaulted only the settlements in Jan 2016.
Follow the link that Foggy posted and get Equifax to correct the file otherwise you will escalate your query to a complaint.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thanks again. I have just spoken to Equifax (offshore call centre) and they have now agreed that the entries should not be there and they said that I have to contact the companies myself.
I have some numbers from the net and have tried them without success.
I am finding it VERY stressful as I feel I am chasing my proverbial tail again- unnecessarily due to their shortcomings.
Write to the daata controllers at these companies enclosing a copy of your completion letter, send them recorded delivery and give them 28 days in which to remove the entries otherwise you will be escalating the matter.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I have positive news having just spoken to both the companies who have agreed to take the appropriate steps to clean up our files for me through Equifax, Experian and call credit.
I was told it could be a few days but it may take up to 28 with Experian.
My first call was to PCO Holdco: Tel: 028 9267 8896 and the second to The Insolvency Exchange: 0844 809 2670 but even though they can see my report and have a copy of my CC require me to send a screenshot of the entry to them.
That's good to hear Scooby - hopefully this will be the end of it.
Let us know when everything is cleared up.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Good evening all,
We can't seem to get over the finish line with clearing our defaults off our credit files. The 2 from Holdco (above) vanished after 7 days of speaking to the company but we seem to be getting nowhere with our one default with GE Money which is showing on both Equifax and Experian files.
I previously spoke to the Insolvency Exchange as I reported above and they said to wait 2 weeks which I did. I called them last Thursday to be told that I have to go back to GE money themselves as its their entry on my files.
I called them on Friday and the guy I spoke to said he would email his head office to get them to action my request. I heard him typing but that could have been to anyone? He said it should take 7-10 days for a reply from them. i am not expecting a reply and are not holding out much hope. I hate being at the behest of others.
Our car has given up and is in the garage (it is scrap value) and our intended purchase scheduled for the new year is upon us now. We may get the credit with Available Car. The default is showing as settled back in 2013 but it also shows lots of red entries when in the IVA.
I have read a couple of other threads about GE Money and wondered if anyone else has issues with them and managed to get the defaults removed and how did they do it.
We feel that we are getting the run around with this and remember that they were difficult when the IVA was being agreed.
I have just noticed this evening that every time I refresh my reports it records my searches.
Regarding other credit; we applied for SCS credit a few months ago and got that ok and we applied for a Capital One CC yest which has been approved, the latter purely to improve our rating. This issue with GE is getting us down and we did think about going back to FJ and see if that helps?
Any guidance with this would be hugely appreciated please?
All letters to creditors should be addressed to "The Data Controller", there is a list of Data Controllers and addresses (Different to Customer Services Address) on the ICO website. The Data Controller is responsible for ensuring compliance with the Data Protection Act so this is the person to go after!!!
Also keep a log of all calls and letters sent, and send everything recorded delivery.
The following is a letter template I copied from this forum (I think) a little while ago:
Dear Sirs
Re: Account Number xxxxxxxxxxx
After consultation with both the Information Commissioner and the Credit Reference Agencies, I am writing directly to you to request that you formally update my credit files in accordance with the Data Protection Act.
I enter an Individual Voluntary Arrangement (IVA) on <Date of your IVA start> which was completed on <Date of Completion>, and <name of creditor> was included within the IVA. For your convenience I have attached confirmation of the IVA and it's completion.
Currently the information that you have recorded against my name with the Credit Reference Agencies is factually incorrect, and despite several written requests to your customer services , as yet your company has failed to correct the entries as required.
• It is required that you default the account, and that the default entry must be no later than <Date of your IVA start>, in accordance with the Data Protection Act.
• It is also required that you mark the account in some way as to indicate that it is settled or satisfied, in accordance with the Data Protection Act.
The Information Commissioner has indicated that I should allow you 28 calendar days from the date you receive this letter to comply, during this time you are requested either to update the Credit Reference Files correctly (of all three Credit Reference Agencies) or notify me in writing the reasons that you refuse to.
After the 28 days have elapsed the Information Commissioner has requested that I inform them if your company fails to update the records so that they may take any necessary enforcement action against your company.
Please note that if this account falls within the remit of the FOS, I will also be submitting a separate complaint to them regarding this matter if the Credit Reference Files are not correctly updated.
Yours faithfully
Fred Bloggs
Enc:
Supportingdocs
My opinions are just that: Based on my experience and being a self-employed IVA customer.
Hi scooby
i am also having trouble with my credit file. i was defaulted after my start date and it will stay on my file till 2019.
Problem is i contacted my IVA company and they have been really helpful, but one of my creditors sold on the account and no one knows who they now represent.
So im stuck.
Itthe only thing on my file and i also may need a new car and dont know where to even start looking.
Did you keep all the letters and statements that you received from the various creditors and the companies that the debts were sold on to. I am fortunate that I did in an organised manner so I knew where to start.
I successfully tracked and contacted the company called 'Hold co' in Ireland that was the company that two of our debts (Barclaycard and Barclay Finance) had been sold on to. They were the ones that said they could remove the entries and they did in a week.
Our other; GE (Safestyle windows) was passed to another company: ttispc and after a lot of searching I discovered they are in a group with The Insolvency exchange but I had to contact funders@tdxgroup. It is these people that said to wait 2 weeks now that I have to go back to GE which I have done briefly. I will call my IP this morning and see if they can help too.
