How to remove Termination Notices
Introduction
Termination Notices are simply a record that is placed on your file - often by Mail Order companies.
- Write to the mail order company detailing the account, the Termination Notice, and ask them for the balance on the account and if they are prepared to remove the Notice from your file on the basis of you bringing the account up to date.
- The company should then write back to you with the balance and agreeing the basis on which you wish the notice to be removed or proposing an alternative solution.
- Once agreement has been made send the agreed sum to the company and request a letter from them confirming that they are prepared to have the notice removed from your file.
- On receipt of this confirmation write to the credit reference agencies enclosing a copy of that confirmation, requesting the agencies to amend their records accordingly.
- After a few weeks it is worthwhile writing to the credit reference agencies again (enclosing £2.00 postal orders/cheques) to check that the files have been properly updated.
IVA's
The IVA Guide
Money Advice Direct has put together an IVA Guide based on the enquiries and questions that we receive at our helpline offices.
In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]
What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit Money Advice Direct's Guide to Individual Voluntary Arrangements (IVAs).
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DANGER
Due to the tremendous demand for debt consolidation services the United Kingdom is now overloaded with debt management companies that contain misleading information. [more...]