Debt Questions forum. General questions on debt issues.

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Byxsavier
#3317 Hi,

I’ve just run an online report with one of the major CRA’s. I was looking for nothing more than confirmation that an IVA (soon to be exited) did a fair bit of damage.

However, on the personal credit rating score, a bankruptcy is listed against me……..

I called the company for an explanation, they tell me the server is currently down but the software reports the IVA incorrectly and it should not appear but does.

Is this common or did I get lucky/very unlucky?

Cheers,

Neil
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ByNicky
#3318 First time I've heard anything like this, so I dont know whether this is common or not. I would hope not if you had an IVA yet your file states you are bankrupt!
Byxsavier
#3319 Following another chat with the CRA, they tell me the IVA is correctly listed under the CCJ section but even after the Full & Final it will never be marked as satisfied. Is this correct?

Furthermore, apparently after I receive the Certificate Of Completion, the creditors are not obliged to update the account as settled?

Surely some mistake as that is the point of full and final settlement?

Any advise out there?
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ByJaneClack
#3324 No but after the six years it should fall off and they cannot pursue you for any further money which is the point of an IVA or bankruptcy. I have asked about this before and although the IVA should be marked as satisfied the creditor can say he didn't receive the full amount. I know it seems rum but this six year thing exists on both but it should NOT be down as a bankruptcy.
Byxsavier
#3330 Hi,

I chased a little further and a very nice lady at the CRA confirmed via email

"We are currently experiencing a temporary system feature, which misinterprets the presence of an Individual Voluntary Arrangement. For this reason, the text within the commentary section of the Credit Rating refers to a Bankruptcy and CCJ. Please note - this feature affects the text contained within the Rating only - the correct details appear in the
Report section and have been used to calculate your Score"

So, it all worked out in the end. And here was me thinking F&F would be an easy process. :)

Cheers,

Neil
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