www.iva.co.uk

Hello,

My IVA dropped off my report this month but my score is still really poor on both Noodle and Clearscore (not got the proper reports yet). They accounts included in the IVA were all still on there last month- marked as closed or settled- all have gone now apart from a NatWest one which still shows all the monthly defaults. I noticed on Noodle that the default date is 2013 a year after the IVA started- will this account stay on the file until 2019? Should I get NatWest to correct the default date?

Apart from this there is a few months a couple of years ago where I was behind with a mobile phone contract showing- will this have an impact on the score? It’s annoying as I didn’t realise I hadn’t paid it until they stopped the services after 3 months of non payment- and I paid straight away!

Hi Annie,

Any defaults will remain on the reports for 6 years so yes it's best to contact Nat West and get them to amend the default date to the IVA start date and it will then drop off the reports. Its also worth checking Experian as well as the other 2 reports as a lot of Lenders use that.

Regards

You need to get that default date corrected .... have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record

The lates on the mobile phone will stay there until they are 6 years old. They will have a small impact, which will lessen as time goes by and you demonstrate a good record, but it shouldn't be a game changer.

As for the overall score, this will remain low for a while ( have a look at my last couple of blog entries -- link in the signature block below). Perversely, having a clean (as in practically blank) credit history is as much of a worry to lenders as having a few defaults!

You might find this quick video I made about cleaning up your credit record useful:

https://youtu.be/PV4RzUY4BRM

Even once all your defaults and IVA have dropped off your records, it will still be poor. As the report will pretty much be blank other than mobile phone contract and gas and lekkie there is nothing else to report on, so that will keep it low. Just keeping your nose clean will eventually get your score to raise, but not significantly. There are numerous blogs that will give you great advice to get your score and rating higher and keep it that way. Doing nothing will allow nothing to happen with your credit rating. Have a look on the interweb for these blogs, there are also some good one's on noddle.

Also bear in mind it takes time to update your scores.