www.iva.co.uk

Credit Ref Agencies
I just wanted to ask a question regarding defaults etc. Before I entered into my IVA I was up to date with all my payments. I was late in making one payment and on my credit file it is only marked as 1 late payment. Why is it that after entering into an IVA everything then is marked as defaulted, when in fact they have agreed to accept payments via this method? Should the CRAs simply mark entries as arrangement to pay. I also note that many of my creditors do not bother to update my account after the IVA was accepted. Some that have updated show dates over three months old. This seems very unfair and obviously in accurate. My IVA was comppleted with a full and final settlement and I just want the infomation the credit ref agencies to be factually correct. I have written to all three agencies with what I have said above and not heard back from any of them so far. I also sent them a copy of my completion statement. This was now three weeks ago. Also sent completion certificates to all my creditors, not a word from any of them. Just did a new report with Equifax, everything is still the same, IVA showing as active, balances not being updated on a regular monthly basis. It just annoys me, that they can get away with supplying info about me that is not up to date. Rant over..

To Be honest, I am a little disappointed that no one has made any comments about my post. I am now below the top 20 questions, so people are now not going to notice my post that easily. I have been on the forum for around a year and a half and have always posted when I felt that I could help someone with my advice. Anyway, I will just muddle through myself without any input from my friends and other posters that I do not know, whos input is always appreciated.
I thought that my question was something that could and should be debated, obviously I was wrong. It seems that most posts these days are related to PPI and completion rather than helping people come to terms and deal with their current situation, debt and trying to move forward. We all need help and advice not justleading up to an IVA or similar solution but on an onging basis. Best wishes to you all Rich

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Rich

Credit Ref Agencies
I just wanted to ask a question regarding defaults etc. Before I entered into my IVA I was up to date with all my payments. I was late in making one payment and on my credit file it is only marked as 1 late payment. Why is it that after entering into an IVA everything then is marked as defaulted, when in fact they have agreed to accept payments via this method? Should the CRAs simply mark entries as arrangement to pay. I also note that many of my creditors do not bother to update my account after the IVA was accepted. Some that have updated show dates over three months old. This seems very unfair and obviously in accurate. My IVA was comppleted with a full and final settlement and I just want the infomation the credit ref agencies to be factually correct. I have written to all three agencies with what I have said above and not heard back from any of them so far. I also sent them a copy of my completion statement. This was now three weeks ago. Also sent completion certificates to all my creditors, not a word from any of them. Just did a new report with Equifax, everything is still the same, IVA showing as active, balances not being updated on a regular monthly basis. It just annoys me, that they can get away with supplying info about me that is not up to date. Rant over..

hi rich, i completed my iva via a full and final offer last summer and have experienced similar diffuculties. I soon gave up dealing with the reference agencies and decided to go direct to the creditors. I simply contatced them by phone to query how they warrant defaulting my credit report when the agreements they refer to are complete. Most creditors requested a copy of my completion cert, which i scanned and e-mailed as it's quicker and you know it has been delivered. Three months from my initial contact and my file is now clear. Hope this helps

Thanks Moneyprobs for your advice

Rich

Rich I think most people who know answer may be at work?

Ok just having a really bad day And trying day x

In my experience they are very slow to get these files updated. In terms of the defaults I think they are probably correct as you have failed to keep to the original agreement by entering an IVA and thus paying back less than you owed.

Keep persisting with them and keep copies of the correspondence you send. If they fail to update your records you can lodge a complaint with the Information Commissioners Office who regulate data held by companies. I had to enlist their help when a creditor failed to accurately display information about me but it took a long time, the ICO were helpful and got a result but ISTR it took about 6-9 months to sort out!

Rich,

Most people will look at the top 250 posts rather than the top 20.

I'll answer as best I can.

Your IVA will show as live until you get your completion letter at which time the IP will inform the Insolvency Register and I believe the CRA's.

As regards your credit record, once you get that letter you should send a copy to the data controller of all of your creditors who are still defaulting enclosing a copy. They should then remove any defaults after the date of IVA approval.

Recovering is right - a lot of people are at work. Posts are always picked up at some time.