Well after nearly 5 1/2 years I now have a completion certificate (well more of a letter really!). Huge weight off our shoulders, not having to worry about accounting for every penny earned [:D]
Now that its completed Im trying to have my credit files updated. About 7 creditors haven't listed the accounts as settled. Anyone have experience of getting creditors to do this?
Also when the defaults are removed after 6 years is this 6 years from start of IVA or 6 years from completion? I have one creditor that only defaulted me 1 year after the IVA.
I wouldn't be to fussed about chasing all this but I want to switch mortgage providers (once the defaults are removed) and before i do this I was thinking of getting a small high interest credit card to rebuild my status over the next 12 months or so.
Defaults will stay on your credit file 6 years from when they were logged.
If they were logged after the start of your IVA you'll need to write to the data controller and ask that the amend the date to the date your IVA came into effect, or delete it.
Once the defaults/IVA have gone from your credit file try applying to your own bank for a credit card first
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
You need to get copies of your credit reports from all 3 agencies. Your defaults should drop off exactly 6 years from the day that your IVA was accepted. Likewise, your IVA should drop off 6 years from acceptance too. Credit files are not the easiest of things to clean up and some agencies are slower than others. Once you have a copy of each agencies reports, you can then start contacting any creditors that have defaulted after the commencement of the IVA. The data controller of each creditor should be able to amend their default dates to the date of IVA acceptance or earlier, so that when the 6 year point arrives, the defaults drop off automatically. You will most likely need to persevere with this and be prepared to do some ringing around..... Also read the post by "Matrix" who has just cleaned up his files.... makes interesting reading.
Congratulations from me as well Sith - can't wait until I am in the same position as you.
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
