Hey Guys,
As you all know I completed my full and final IVA on 21 September and am now trying to get my credit report back to normal.....I have a question regarding defaults. My IVA was agred on 1st August 2011.....a few of my creditors had defaulted my accounts after this date i.e...capital one had dfaulted me on 22nd September...following advice from The Matrix I wrote to Egg and Capital One and asked them that if they intended defaulting my account this must be the start date of my IVA 1st August at the latest.
Right, well I have just checked my credit report and indeed Capital One have now dated the default 1st August...all fine....but what I wanted to know is when I go on and check my accounts in my credit report fromk month to month what should it look like? I.E. at the moment it shows as
"ok" "ok" "ok" "ok" "ok" "DEFAULTED"...
what should be there next month after the default???? should it revert back to "ok" or "settled" or will it keep showing "defaulted" now every month for the next 6 years? I hope this makes sense?
defaults should only show up until the START date of your IVA - any placed after this date have to be removed or amended by creditors.
Only when the IVA company have issued completion cert and the insolvency register is shown as cleared will your credit reports show satisfied. Individual creditors will / should amend your lines of credit to read partially settled or satisfied once they have received final payment from your IP
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