- Tue May 25, 2010 1:06 pm
Sorry that it's taken a little while to get back to you... been a busy week!
Firstly, when you check your credit files, (it's really only Experian and Equifax that matter) you need to check that your creditors have defaulted your accounts on the right date... which should be more or less on the date of your IVA start/acceptance or before. If any are showing dates significantly beyond your IVA start date, or without a date at all, you need to get that corrected by writing to the creditor filing the report, with your IVA details.
Give it a few months after your IVA completes for things to catch up, but you also need to check that the files show that they are now "satisfied" or "partially satisfied" (different creds use different expressions) and that the balance is now zero. (Having recently chatted to MBNA on that last point, they say that they show a balance that is the total, less the IVA payment to them; not a lot we can do about that...) But they do show all other details correctly, so it's just a case of waiting the 6 yrs from IVA start.
As to getting a mortgage... it's difficult to say what will be happening in 6 years time. I think all you can do is what you suggest; make sure your file will clear itself in 6 years and wait and see what the financial markets have done by then... Anyone's guess!
Your IP's land registry interest should be removed by him/her as part of the satisfaction of your IVA; you shouldn't need to do anything but monitor to make sure that it's done. Simples
Finally, your IVA will drop off the Insolvency Register within a short time of your IVA satisfaction (again, you don't need to do anything). However, your IVA start and satisfaction is also shown on your credit files, so that will take the 6 years to disappear.
Hope that helps so far! Best of luck - it's a great feeling when it's all over. You walk around with a feeling of satisfaction and silly smile on your face for ages