default date

[dieselpuppy]

Hello

 

 

I hope someone can help me.

 

 

My partner entered an IVA 6 years ago paid everything that was asked and got completion certificate.

 

 

The IVA started Oct 2008

 

Wanting to check their credit file

we notice one of the companies listed in IVA has put a default date of 2012.

 

my question is can they do this?

 

I thought it would come under the IVA or defaulted back in 2008!?

 

thankyou for reading and helping if you can.

[dx100uk]

yes I agree

 

 

surely your IVA provider should have sorted this

 

 

dx

[dieselpuppy]

Who should I contact? Can I make a complaint to anyone?

[BRIGADIER2JCS]

Debt should have been defaulted no later than when the IVA commenced.

 

 

You must make a formal complaint to the company that placed the entry on the CRA (which one have you viewed?)

It will be necessary to check all 3 main agencies, Equifax., Experian, and Call Credit to see if the same data appears, if it does place " notices of correction/dispute on the file entries.

 

 

Also check that the debt was in fact included in the IVA.

[dieselpuppy]

The debt was included in IVA, we checked all 3 Equifax experian and noodle. It is on all 3. I can't find who to complain to. Can I name the company on here?

[BRIGADIER2JCS]

The debt was included in IVA, we checked all 3 Equifax experian and noodle. It is on all 3. I can't find who to complain to. Can I name the company on here?

Certainly name the company which is the entity to complain to.

A Formal Complaint to The Data Controller of the company concerned, this requires it to fully investigate and respond within 56 days.

[dieselpuppy]

The company was Lloyds banking group asset finance. It's really annoying!! Having been through the IVA for 5 years and now it's dropped of file thought we could build up credit file again. To me this looks deliberate as to mess up file for further 4 years.

[BRIGADIER2JCS]

The company was Lloyds banking group asset finance. It's really annoying!! Having been through the IVA for 5 years and now it's dropped of file thought we could build up credit file again. To me this looks deliberate as to mess up file for further 4 years.

 

 

A Formal Complaint to Jakob Pfaudler, CEO Asset Finance Lloyds Banking Group.

 

 

Mark envelope Private & Confidential, and use signed for post.

[dieselpuppy]

Thankyou for that I will keep you posted on outcome. Do you think I can ask for some form of compensation??

[BRIGADIER2JCS]

Thankyou for that I will keep you posted on outcome. Do you think I can ask for some form of compensation??

You will need to follow the Formal Complaint through before considering if " financial redress" is appropriate.

[dieselpuppy]

Ok thanks. Does this sound ok.

dear Jakob

on checking my credit files I notice lloyds banking group asset finance have a default registered against myself dated 30.08.2012

as you will be aware this particular debt was included in the IVA I entered and completed. It is my understanding the default date should be no later than when the IVA started. Please address this matter with urgency I look forward to your reply

yours

me

[BRIGADIER2JCS]

Ok thanks. Does this sountd ok.

*** Private & Confidential***

 

 

**Formal Complaint**

 

 

Ref: Incorrect Data Reported on Credit Reference Files

 

 

 

Dear Mr Pfaudier

 

 

I refer you to account number xxxxxxx which was included in my IVA commenced on Date, which has now been completed.

 

On checking my credit files I notice lloyds banking group asset finance have a default registered against myself dated 30.08.2012 *** Copy of CRA entry attached for clarity****

as you will be aware this particular debt was included in the IVA I entered and completed. It is my understanding the default date should be no later than when the IVA started.

 

 

As you be well aware an entry such as this will cause me considerable difficulty in rebuilding my credit profile after my IVA.

 

 

As this account should have been defaulted in 2008 this CRA entries must now be removed from all credit reference

agencies to which it has been reported immediately.

 

 

Please address this matter with urgency I look forward to your reply after which I shall consider what further action I may take.

Yours sincerely,

 

 

 

me

 

 

Amended to give more detail for easy reference.

[AndyOrch]

In theory default notices should be issued before the IVA is approved (as often payments will have been missed around this time) however, this is not always the case. Sometimes a default notice can show after the IVA has commenced. This could adversely affect your credit rating for longer than necessary after the IVA has been completed.

 

A default notice, much like an IVA, will remain on your credit file for six years from the date of issue. Therefore if a default notice is issued after your IVA is approved, it may remain on your credit file for longer than your IVA. It should therefore be considered an incorrect entry which you may want to address with the creditor.

 

If you check your credit file and notice that a debt included in your IVA has a default notice marked against you after your IVA was approved then you can write to the creditor (enclosing a copy of your IVA statement of affairs which shows their debt as included), asking them to change the default notice date to the date the IVA was approved.

 

Sometimes a creditor in an IVA might refuse to change the date of the default notice. If this happens you can write to the Information Commissioner enclosing your IVA documentation and the letter from the creditor refusing to change the date of the default notice.

 

Credit reference agencies will not necessarily know your IVA has been completed, or that default notices have been issued on incorrect dates unless you inform them. Doing so does not form part of your IVA provider’s responsibilities.

 

When you have completed your IVA a Certificate of Completion will be issued to you. This will need to be sent to the credit reference agencies along with a letter asking them to update your file. Those creditors included in your IVA might update your credit file to show you no longer owe them money by marking the default notices registered against you as ‘settled’ or ‘satisfied’.

 

However, creditors in an IVA are under no obligation to mark default notices as ‘settled’ or ‘satisfied’. Under the terms of an IVA, creditors often have no option other than to accept less money than was owed under the original agreement, and even though no further monies are due towards the debt they are entitled to mark the default as ‘partially paid’ or ‘partially satisfied’. This information has been confirmed with the Information Commissioner when writing this article.

 

Although you will be free of your unsecured debts after successful completion of your IVA, the default notices and the IVA will usually stay on your credit file for another year (assuming your IVA term was five years). Taking steps to ensure your credit file has been updated in the interim may speed up the recovery of your credit rating.

 

Regards

 

Andy

[dieselpuppy]

Thankyou Andy. It has now been 6 years since IVA started so IVA should drop of credit file this month. IVA started 2008 i was just concerned as the default dadatos 2012 so in affect will affect credit until 2018 which to me sounds unfair.

letter posted will keep everyone updated.

[BRIGADIER2JCS]

Thankyou Andy. It has now been 6 years since IVA started so IVA should drop of credit file this month. IVA started 2008 i was just concerned as the default dadatos 2012 so in affect will affect credit until 2018 which to me sounds unfair.

letter posted will keep everyone updated.

 

 

Placing a default 4 years after the start of the IVA is manifestly unfair and unreasonable.

 

 

Default Notices however and the date on them have no relationship to the actual default date.

 

 

A DN is not a default.

 

 

The DN allows 14 days to bring the account back to the required status e.g. paying off arrears, if this is not done then the creditor defaults the account, generally done within 1 month but can be up to 6 months later.