What Happens when you have completed IVA payments

toby52002_2

Hi,

Please can you help my husbands IVA final payment is in April 2012, what happens once it has been paid and what information will be given to my husband to confirm he has completed the IVA?

thank you

FoggyBrain_2

Hi. And well done to your husband for getting to this point ( with your help, of course). Once the formalities have been completed ( which can take up to 6 montyhs!) the IP will issue a completion certificate ( which is just a letter saying all has been done and the iVA is dischrged). And, from the point of view of debt .. you are free.

Although you aren't paying any longer, the IVA still remains in force until you get that certificate.

Have a look here, it's for BR, but basically the same hoops to jump through:

https://forums.moneysavingexpert.com/discussion/677875

tinkandspud

Well Done to you both :T.

Hubby and I made our final IVA payment in April this year. Took about 3 months for the Certificate of Completion (just a letter on headed paper:eek:) to come through. The IP contacted all the creditors and paid the final monies etc.

Our IVA actually lasted 5 and half years so Spetember has been our 6 year point for all the defaults to drop of the credit report, this hasnt been done automatically for all the creditors im still chasing 4 to get defaults removed. :mad:.

x x x x x

milliemonster

Yep, once you get your completion certificate you will then need to get a copy of his credit file from all three CRA's and ensure all defaults are removed if any were added after the date of his IVA approval, but very well done for getting to the end