Hi, Im new to the forum and have picked up quite a bit of advice concerning defaults but im still a little unclear on a few things. Id really appreciate some advice in relation to my own case Ill try to keep it short - basically,l i got into a bit of financial difficulty over a year ago and in order to stop any defaults/late payments affecting my credit history, I consulted a company called gregory pennington. Then it all went to pot - i wished i never used them although they did help me get back on track. Ive since stopped using them and manage my own payments now, but when i first started with them, it took around 6 months for them to set up an agrrement with the lenders (lloyds tsb and capital one). This resulted in me ending up with 3 shiny defaults on my credit file. Im slowly trying to repair the damage, but from what ive seen and read, it look slike i have to wait the whole 6 years - HOWEVER - I want to check a few things, if I may: I recieved default notices, and they have given me some time to pay - however one company didnt default me, the other did - when do defaults get applied to your credit file? Is it a certain period of time AFTER the default notice or at the time the notice is issued to you? The Default Notice i recieved was served under section 87 (1) of the CCA. If your paying via an IVA company, are companies still able to issue you with a default? I thought a default warning was to force you to settle the debt or make a suitable arrangement? Id really appreciate your advice on this - do let me know if i need to supply more info...! thanks..

I'm at a critical stage of arranging an IVA: pre-creditors meeting. I'm beginning to realise that the company organising the IVA are running rough-shod over my financial affairs and I am at risk of losing my business if they upset too many of my creditors. The creditors are at the stage where they're about to file for bankruptcy, although they probably won't, as they'd get nothing, but some of the smaller creditors are that dull, they just might. If I go ahead and allow this company to hold the meeting and arrange the IVA, and they continue to behave irresponsibly with my situation (our situation - I have a business partner), can I replace them later? Thanks anyone.