I have had some great news recently after my IVA was settled this week I received my certificate of completion.
I am about to send a letter to Equifax, Experian and Callcredit. Once I send a letter with copies of my Certificate of completion and my Supervisors report from Callcredit, do I need to get in touch with the creditors themselves? I am aware there is a template letter that Jones, Giles & Clay have created to send to creditors. Is this also required as part of the process?
You don't need to contact your creditors at all. Bear in mind that your credit record will be shot for six years from the start of your IVA (I assume yours was a five year one)
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
Yes it was for 5 years and I made the completion within 3 years. I am aware that this will on my creditfile for 3 more years. However, this experience of being in debt has not deterred me in making the means of gaining a decent credit score moving forward.
It obviously will take time to build up again - make sure your default dates are correct and also check the Insolvency Register is updated, usually three months from your completion date.
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
Now, in theory, you need not contact anyone, unless things do not go to plan. Your IP should have given all creditors copies of the final reports and completion paperwork, as well as forwarded a copy to the Insolvency Service.
Thank you Kallis for your advice. I will be posting these to the three different credit reference agencies today. With a bit of a wait I'm sure they will be able to update my file.
Thanks Foggy, the last 3 years have been challenging, but i am so much more now wiser than i was 4 / 5 years ago. I feel more savvy about money and i have also been helped by my wife through these critical financial times.
