www.iva.co.uk

I settled my son's iva in May 2013 to enable him to have a new start with his new family. He has recently looked at his credit history to find that defaults are still showing and not settled, he rang one of them to find they have received no final payment, and as far as they are concerned he still owes them over £4000. He rang freeman jones, and as usual they were very unhelpful, promising to call back, but never do. His credit file does show that the iva has been settled, but whats the point if defaults and unsettled debt are still showing. It appears some of the creditors have been paid while others have received nothing, surely after 6 months this should not be the case, it is very worrying.

Has he got a copy of his completion certificate and also a list of final dividends paid to creditors?

Hi Debbie. Your son's credit file will show these defaults for 6 years from the date of acceptance.

With regard to payment status I am sure one of the forum's Freeman Jones reps will pick up on this and post shortly.

In the meantime, for general info have a look here:

http://www.pjgrecovery.com/clean-up-credit-rating

What a great Mum your son has !

Hi Debbie.36

Thank you for the post. I would like to look into this for you. If you could get in touch with me via ian.williams@FreemanJones.co.uk with your son's details then I will be able to investigate and update him on progress.

Thank you,



Ian

Any defaults entered on your credit file will remain for 6 years along with the IVA, you can use the link that Foggy has posted to clean up your sons credit file.

Hi Debbie.36

Just a brief update from me. Your son's IVA has been closed and he has had his Completion Certificate. We aren't holding any funds - everything that was due to be distributed to his lenders included in the IVA has been distributed.

Our Creditor Liaison team has been calling round the lenders again today - and we are hearing back from the lenders that his various accounts are settled and closed, which I appreciate doesn't tally with what they have been telling you/him.

My colleague Laura has emailed you directly this afternoon.




Ian

It could be that the database the frontline call centre use is not up to date, even if the credit files have been updated and are shown as settled

Is he getting any contact/demands to epay ?

Martin

The problem is that sometimes, if a debt gets sold on, the original creditor still continues to report the default and the money owing at the point it was sold on. This happened with one of my creditors. When I wrote to them about it, they passed the letter on to Max Recovery, who rightly told me it was nothing to do with me. However, on going through the credit reference agency, they got it removed. In any case, at the point the IVA is completed, some just mark it partially settled and leave the amount - which on their books might have accrued interest - on the report. It doesn't really matter, as long as the default date is the same as the date of entry into the IVA, for it will all just drop off the records at the six year mark.

Unfortunately you cannot always trust creditors to update data accurately and this is one of the reasons we advise regular checking of your credit file.