Creditors Defaulting !!

[Endsmeet]

Hi All,
Its been a while since I've asked for advice so here goes:

I successfully completed my IVA in August 2012, I am now one month away from my credit records being wiped clean ( I hope ), anyway I recently checked my file online with Noddle and all my creditors are still defaulting me on a monthly basis.

How should I handle this ?
Should I wait until the IVA falls off the register etc and see if the defaults are also removed and not coming back monthly OR should I write to each individual creditor asking them to remove the defaults to the original start date back in 2007 ?

I have the suggested template letter at the ready if required along with my certificate of completion.

Thanks in advance

[sponge]

My thought is you’re so close to the end that writing letters at this stage is all a bit late. As you know noodle is free so don't be disappointed if you don't see it drop off for a month or two. They take their information from callcredit but only updated once a month.

Just post your drop off date get the £2.00 online from the three agencies (although it can be tricky with a debit card from callcredit)
Experian tend to put the IVA in the NOC section phone the UK free phone and they'll will remove it there and then!

You might have to tweak the odd thing but give it a month and don't be surprised to see your credit score in the high numbers

[Tina Shortland]

Hi Endsmeet I would see what happens once you have come of the register as the defaults should also follow. It will be easier to request they come off if the IVa has come of completely as well.

Keep us posted on what you do and what happens as this is a common query for posters at the end of the IVA.

[Endsmeet]

Hi,
Thanks for the advice, I was thinking of waiting until the IVA drops off the register then going from there so that sounds like the best plan.
Roll on the 8th August 2013 [:D]

Will keep you updated as to what and when anything happens

Thanks Again

[Endsmeet]

Hi Again, well Ive checked the official register and my name has completely gone, no IVA or anything so that's a big plus [:D]
Now I shall wait for a month or so to see if the defaults also drop off for each of my individual creditors and if not, I think I shall write them a nice letter to request that they update their records to reflect my IVA completion....

[Struzzo39]

Fantastic news Heres hoping the rest follow speedily for you

[Endsmeet]

Hi Again,
Just updating you all on my current situation regarding defaults etc.
I have just checked my credit record using the free Noddle website and all my defaults/creditors have now dropped off apart from Cahoot who are still defaulting me on a monthly basis.
I am now gonna send them a letter ( using the template ) requesting that they update their records to reflect the completion of my IVA, also gonna enclose a copy of my certificate of completion etc.
Got a feeling this is only round 1 with these guys

Wish me luck

[Endsmeet]

Hi All,
Just another update as requested, Cahoot have finally removed the defaults so I guess that the two letters I sent them threatening with the Financial Ombudsman have done the trick and I have also been accepted for an Aqua credit card with a limit of 100, I use this just for petrol etc and pay it off straight away so no interest etc, I have just checked my credit score and its looking good for the first time in 6 yrs [:D]

[sponge]

Endsmeet

Thant's good news. Pretty much as it should be and with that good score to boot, Yooohooo Foggy, he's a non beliver in such things!

[Foggy]

Hi Sponge -- far from being a non believer (just have past, professional experience. Credit score means as much as a fart in a collander to lenders and serves only to boost the credit reference agencies sales in meaningless credit monitoring memberships.

[sponge]

I see no reason why we should have to suffer poor terms, it just has to be educated so. I take it you saw Chali post re “that” Card, interest from day one of purchase, did you know that! at 39% apr absolute bonkers…Do you see why I bang my drum, just plain wrong. When you have finished your IVA (gone gone) you can get access to competitive credit, it’s that simple. I think you’ll see post IVA posts in the direction of Nationwide flex account and you get a regular credit card by default

[Foggy]

I agree with you Sponge -- yes, it is plain wrong. But then, from a creditors point of view not paying your loan in full is a bit of a tear jerker too!

We have seen time and time again that post IVA'ers can land "normal" deals -- some can't .... as ever, even for those superior beings not blighted by credit problems, it is still a bit of a lottery.

As with all things, seek and ye shall (eventually) find ... shop around, there is gold in them thar hills .......

[Hair_bobbles]

Foggy you are so funny! I agree with you,,re credit score not being worth the paper it's written on- on our experian cf , iva has dropped off, all accounts bar one has been marked as satisfied, everything is in default waiting to drop off next year & credit scores for myself & oh are in the ""excellent" 965, 975 range- doesn't mean anything as all the defaults are on there-
I've left getting onto the other CRA til now as I wanted experian to be up to date first.
Just done equifax statutory online & the iva is still showing on both files for me & oh. I signed up with noddle- iva is still on those files also. The noddle is ok but I would not use it as my main source of "checking up on" as it is not so comprehensive.
I think a booklet needs to published that has ALL of the relevent information & letter templates & addresses & legal rights & everything else in it!!! So it will help all those who are finishing an iva to know exactly what to do next!!

We were just told " your credit score will go back to 0 after 6 years" - of course,,it didn't occur to me that it would be anything less than that simple!!