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Hi, i completed my IVA on February 15th last year and i'm told that now a year has gone since the completion i can now have it taken off my credit file, is that correct? i've used a high interest credit card and paid it off each month since last year but i'm told the removal of the IVA off my file will help greatly.

Hi Gary and welcome to the forum, my understanding of the IVA dropping from your credit file is that this will happen automatically 6 years from the date of acceptance of the IVA. x

Hi. Check your credit reports to make sure all of your creditors altered the default dates to the date of acceptance of the IVA -- in which case they should drop into oblivion 6 years later. They are a=obliged to do this, but some need prodding.

If it has been 6 years since the start of your IVA then you can check your credit reports and ensure it is now clean. If it's not you'll need to write to the data controller for each of the creditors who have inacurate information recorded at the CRA and ask them to remove it under the Data Protection Act.

Thanks for the replies, i'll check it tomorrow with credit expert and if its not been done i can give the IVA company a call.
Thanks again for your help

Congratulations on getting to the last big Milestone in putting your debts behind you!! Have you ever been tempted to spend just a little more than you can afford on the plastic? It's a cheeky question but it is my biggest fear for when I finish.

Gary congrats on completing - Although the iVA will drop off automatically for 6 years. The "normal" rate credit cards may still be refused due to "whats NOT on your credit file". This 6 years is when you should start to build your credit report.
It very common for credit to be refused due to not having items on file.

BOL - use credit card all the time - use it as my debit card (offers more protection) however pay it off every month, and yes it can be tempting but personally after my IVA, when tempted i ask "do i need this" - the answer is usually it can wait

I remember a few years ago a newspaper ran a "credit check" on the Queen --- not via the agencies, but using a scoring system --- she failed, as did Prince Phillip. Never been employed, living on State Payouts and ..... never had a credit history !

It should just automatically drop off after the six years. You need to check to see if there are any defaults registered after the date of IVA acceptance. If there are, send a copy of your completion letter to those creditors and tell them to remove the defaults.

My experience is that they do indeed need some prodding... my IVA supervisor hasn't sent out my completion notice to any of the agencies so I'm now having to pay to register with them, check my records, then send them copies of the notice myself.

The IVA won't drop off until six years anyway, regardless of whether or not a completition certificate is sent.

You will have to deal with any creditors who have defaulted you after the date of IVA acceptance. This is not down to your IP.

I'm expecting to have to photcopy my certificate when I receive it and write to all of the credit agencies and some of our creditors to have my credit file amended accordingly - I will have great pleasure in doing this as I see it as being the final part to my previous silly in debt life !

You can then put it all behind you luluj!

All Defaults, CCJ's, IVA's and BR's will drop off your credit file 6 Years after they are registered with the CRA.

RE: Defaults after the IVA agreement date:

Your Insolvency Practitioner wont clear up your credit file for you. You're going to have to take the bull by the horns and act yourself if you want to clean up your credit file.

Be very wary about any company who say they can do this for you too, as it is something you can do yourself relativly cheaply.

If you're subscribed to a credit service with a CRA they will probably offer a service whereby they will contact your creditors. But again it will be down to each creditor to agree to them removing the inacurate information.

If the creditor refuses, the only course of action open to you is through the Banking Ombudsmen or the Information Commissioner. But if the data is incorrect, they will be on your side.

INAIVA in 17 days time you are going to be debt free after your final payment,i just want to congratulate you on the strength you can make that final payment[:D].you have been a very strong helper on this forum,and i hope you keep posting after your iva is complete well done and good luck to the future,this site depends on people like you to be creditable and sustainable to give people the confidence to participate.