Credit report

[brandysnaps]

I just received my completion certificate last week. I had £50k of unsecured debt included in my IVA with lots of credit cards and a personal loan from various banks. The IVA was approved in October 2007. All payments made on time etc.

I just decided to look at my Experian credit report. Having signed up for it I today received my PIN. I was very surprised to see no mention whatsoever of my defaults etc, or of the IVA. I told me my credit rating is good. Sure enough in previous link info all the previous addresses, and the issuing banks are listed - so it's definitely me. But it records my mobile phone contract as the only credit I have - and shows a great payment record.

Am I missing something here? I thought I'd be working through getting default dates changed etc for ages. But as far as this report goes, it seems I already have good credit.

[sponge]

can't give you a firm answer but best to check all three CR, pain as it is. But now that you mention whilst my IVA and other credit did show, barclaycard which i errm defaulted on at 16k did not show on any of the three - just a fluke maybe

[Adam Davies]

Hi

It is important to check Callcredit and Noddle as there have been issues of them still holding the IVA on file after the six year point

Regards

[IVA Victim12345]

Congratulations on getting your certificate. Can I ask who you had your IVA with? Presumably not with GT but 3 months from last payment is very good whoever it was with. The simple fact that there is such a lucky draw with debtors as to whom they chose as their IP is a scandal.

That is a good question as to iwhy it is not listed. My response and experience is that the insolvency industry far from what you might read on this Forum is actually very poorly regulated and hardly monitored by those in authority and governance. For example the appalling record of not issuing ccs after a year by GT yet another IP may issue one in 3 months. Both with the same obligations and industry guidelines.

Hence a difference in reporting of credit status and records will reveal similar disparities and in some cases, such as in this one, to your advantage. For example it would seem that you paid your last insallment 8 months after me yet you already have your CC. How can that possibly be?

But I did read a good point raised by Melanie on 30th January in which she as an IP how was dismayed at even one complaint to an IP let alone the many that GT have. Also how an IP qualifying is a privilege through sheer hard work and any complaints would not be acceptable. (I may have mis paraphrased Melanie here but I'm confident the sentiment is correct?)

This mismanagement by GT on closures will inevitably create change and improvement within the industry after the many complaints currently going through the regulatory bodies as we speak. Unfortunately there will be no advantage to the current waiting overdue debtors.

The only benefit will be to those legal professionals instructed to pursue mismanagement and negligence claims against those IPs failing in their duties to the courts, creditors and debtors over the next few years....