www.iva.co.uk

Hi,

I completed my IVA in January of this year and I am currently waiting for a 'Certificate of Completion' to be forwarded to me. As advised, I will then forward this certificate to the 3 credit agencies and request for the IVA and listed debts to be marked as 'completely satisfied' with all balances marked as 'zero'.

However, I have heard that some creditors have been known to state on the file that the debt has been 'Partially Satisfied' and instead of marking the debt as 'zero', the outstanding debt amount remains on file. Is this true and more importantly, is it allowed?!!
If this is permitted, will the 'Partially Completed' reference together with the outstanding debt amount noted on the file be deleted regardless, after the six year period (which is next January in my case) or as the account shows an amount still outstanding, will it remain there indefinitely?

Many thanks.

My understanding is your credit file will totally clear when you reach the 6th anniversar if your commencement of your IVA.

Good luck and well done for reaching the end of your debt journey!

Yes - that is my undertanding of the way the credit files work as well.

Hi there,
You may find some items were registered a while after the IVA so you may have to get that sorted, I have some defaults registered a year after mine started.

Cheers
Mark

I'm glad that all information is deleted after the 6th year. In the meantime, however, shouldn't the creditors note that the debt has been 'Completely Satisfied' with zero balance and not 'Partially Satisfied' with the outstanding balance still being displayed? The whole point of the IVA is that there is no outstanding balance after completion and shouldn't the records therefore reflect this? If any of my creditors do take this approach, should I consider consulting the Information Commissioner's Office who may then instruct creditors to ammend their information correctly?