www.iva.co.uk

After my IVA closure is complete and i have all paperwork etc how long does it take for my credit rating to be clear?

I've asked my IVA company this many times but seem to get different answers!

Your IVA will show on your credit file for 6 years from the date your IVA was approved.

Any default notices will also fall off automatically after 6 years

even if its not been closed after 6 years?
Mine started in July 2006 and im still waiting for it to be closed. So will it still be on my credit rating now?

Sorry becca i misunderstood you, if your IVA is showing on the insolvency register it will show on your credit file.

Once you receive your completion certificate you will can use it to clean up your credit file by writing to creditors included in your IVA asking them to correctly ammend default notices.

So i need to write to all my creditors and my IVA company once i have my completion cert?
Then how long will it take?

Any defaults should be dated no later than the date your IVA was agreed. If there are any dated later than that you will need to write to the data controller for each creditor and ask them to amend the date accordingly, giving them 28 days to comply.

6-8 weeks after you send the letters check your credit files and hopefully they will have been amended. If not, you will need to report the creditor to the Information Commissioner who has the power to force them to comply. This can take around 6 months, depending on their backlog.

thank you