www.iva.co.uk

Hello,

It has been 7 years (Nov 2006) since I defaulted and entered into an IVA, and 1 year after my certificate of completion was issued. I have had problems with one of my creditors (Tesco Loans) in that they would not acknowledge they had received their final payment and so it took a few months for them to stop updating my credit file as me still being in default with them. But by February ‘13 all of my defaults had dropped off of my credit files. Finally in September ‘13 Tesco finally acknowledged the final payment and informed me my account had been closed.

This month (Nov ‘13) I was notified by Equifax that there had been a change on my file. When I checked, Tesco have now added a new notification on my file stating that the account is settled but with an added status of “PARTIAL SETTLEMENT - Payment received as a full and final settlement although the payment would not fully clear the balance.” They have added the start date of the loan, the date it was satisfied, and the date updated. They have not entered the date the account was defaulted - On a side note they have also entered an incorrect birth date for me.

I phoned Tesco and asked them to remove this notification as I believe it has been over 6 years since the account defaulted. I was told that it has nothing to do with the default and all they are doing is acknowledging they have received a final payment and that it was a partial settlement - and that it is their legal requirement to add it to my file.

My question is: Is there anything I can do to get this removed?

The thought that I will now have a negative reference on my credit file for another 6 years has really deflated me.

I am sorry but I know nothing about credit files and hopefully soemone else will come along who can help.

We had this problem with a lot of our credit cards. You just have to keep at them

Raise an issue with Equifax, Experian and Call Credit and point this out that the default date should be set to the month of the first default entry on the file and it should now be removed

Keep battling them and you'll get it sorted eventually

You may have to raise a dispute with the credit reference agencies who will then carry out an investigation to see if the default has been entered incorrectly.

All defaults should be dated on the date the IVA was approved or prior so it sounds like it is an incorrect entry

Hi,

Thank you all for your replies.

I will try and raise a dispute with the credit agencies.

This is where Tesco are being awkward because they are saying this latest entry has nothing to do with the account being defaulted in the past, but that all they are doing is acknowledging they have received a final payment. That is why they haven't submitted a default date on this latest entry.

So, should I just ask the credit reference agency to remove the notice as it does not have all the information regarding the Tesco loan account or should I ask for the default date to be entered as factual information? As this date would be Nov 2006 the notice should then automatically be removed.

Thank you in advance.

If you disagree with any information on your credit report and raise a dispute, the CRA will mark the account as "disputed" while it contacts Tesco to try and resolve the problem.

As CRAs only hold the information they cannot just make an amendment as the lender owns the information and needs to authorise and submit their own amendments.

If Tesco still will not change the information you may have to make a complaint to the Information Commissioner http://www.ico.org.uk/

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

Hi,

Thank you all for your replies.

I will try and raise a dispute with the credit agencies.

This is where Tesco are being awkward because they are saying this latest entry has nothing to do with the account being defaulted in the past, but that all they are doing is acknowledging they have received a final payment. That is why they haven't submitted a default date on this latest entry.

So, should I just ask the credit reference agency to remove the notice as it does not have all the information regarding the Tesco loan account or should I ask for the default date to be entered as factual information? As this date would be Nov 2006 the notice should then automatically be removed.

Thank you in advance.

Tesco's are notorious for doing this. Raise a dispute with the CRA and let them sort it. Tesco just don't seem to quite 'get it', if you see what I mean!

Thanks everyone. I will raise a dispute with the CRA and see how it goes.

Fingers crossed you get this sorted Peeved

Let us know how you get on

*Update*
I finally raised a dispute with Equifax on the 11th Jan - which was quite simple to do online.
Today I was notified that Tesco have agreed to remove the account information. I checked my account and it has been removed.
I did fear that it was going to be another long fight to sort it out, in the end it was resolved without too many problems. I believe it should never have happened in the first place, but it's over now. I have clean credit files and I'm a very happy person (no longer Peeved)!
Thank you to all that offered advice and support.
Best wishes to anybody who is in an iva or other debt repayment solution.

Hi

Thank you for posting an update, it will help many other people

Regards

That's great news

Glad you got it sorted and can look forward to the future

Great news -- well done