www.iva.co.uk

Hi there. I currently have an IVA which is going to end in October 15. I recently looked at my credit rating as I was curious to see what it actually looked like. I noticed that the creditors that I entered into the IVA with were showing as defaults every month. Is this right? Should they still be showing that I've defaulted every month? Please get back to me as I'm very worried

im interested to know about this as mine are also showing monthly defaults too - I think its normal but hopefully an expert will answer shortly

Hi. They are not showing that you have defaulted every month, but that the original default still stands. You can only be defaulted once and this gets shown every month. The important thing is that the date of default is on, near or before the IVA start date.

I'm think I'm right in saying Foggy that they disappear on the 6th anniversary of when they were put into default so for example I had an IVA that started 26th Feb 09, F&F Feb 13 but one of my creditors defaulted me in May 09 so will stay on until May this year then disappear. That's just an example as mine vary from Feb 09 to about June 09.

I sent off a copy of my completion certificate if I remember rightly asking them to change the default date and they duly did. I know I was lucky as others have had trouble getting default dates changed.

The defaults should be dated the date of the IVA start date, but a little leeway is neither here nor there. Yes, they disappear after 6 years. Useful background here:

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