www.iva.co.uk

Hi folks. Just joined your forum. Some good interesting comments and very helpful replies. I am 18 months into an IVA. All is going well. With my experience I will do all I can to help.
I was just wondering about recovery agents. Some of my debts have been taken over by Max Recovery (Eversheds). Does anyone know, if the debt has been taken over does this mean that I don't actually owe my original creditor any money?
And if so, am I able to get them taken off my credit file?
Also, as I didn't actually take out any credit with Max Recovery should they be listed on my credit file at all?
I am thinking of paying the IVA off early and the less defaults shown on my credit file at the end, the better!
Any thoughts would be appreciated.
Thanks.

I would think that regardless of who now owns your debt the original creditors will still be showing as default, and I don't think you can get rid of them.

I am sure an expert will put you right, but I think your IVA stays on your file for six years from the date you took it out. Again, an expert will be along and put you right

I do believe that with any insolvency proceedure your credit file would remain gzzumpt (for want of a better word) for the full six years anyway regardless of how early you pay it off. The debts are now owned by the other company due to the default so they will remain.

Good luck with getting it paid off early.

When a creditor sells a debt to Max Recovery, Max acquire the same rights that the original creditor had - so the entries on the CRA files are appropriate to remain in place.