Iva nearly done what can I expect?

keeny1975

Hi peeps

So I phoned grant Thornton and asked what was going on with my iva.
They said they had all my creditors agree to end my Iva and that it would take 6months to finalise.

So what can I expect to happen in the next 6 months? Will they need any more documentation? Or ask for anything else from me? Or is it just a matter of sit down shut up and wait for the certificate to come through the post?

Cheers
Keeney

dapast

Pretty much sit and wait, mine was finished in Aug 13 and took till June 14 to get certificate.
Just remember to let them know if you move.

Well done for getting out the other side, and enjoy a debt free life

UpToMyNeckInIt

...Having read about some GT customers having to wait up to 2-Years for completion certificates. (To be fair, most of that was to do with PPI recovery late on in the IVA). But waiting 12 Months+ seems to be reported far too frequently to believe that these are isolated cases.

I certainly would not 'sit down shut up and wait'. Nothing wrong with being pro-active, and posing your questions to your case officer. Then give them the 6-Months to tie up any administrative issues - that's reasonable (and put in writing by my IVA company, I assume then that GT have done likewise?).

After the 6-Months, become the biggest pain in your case officer's backside, to bump you case further up the 'completion pile'. Nothing wrong with resorting to the formal complaints procedure if reasonable enquiries are not productive.

Well done on making it through your IVA, and all the best with your debt-free future.

althas

Check your credit files with all 3 companies to make sure all the defaults have the correct date

Apply for a Vanquis credit card. Don't shoot me for that. They often give card to IVA people with silly interest rates, but use it to do one shop a month and pay it off in full. No Interest BUT most importantly you start to rebuild your credit history for when the IVA drops off in year 6. I have just made my last payment today and I had my card application agreed last week

Look forward to seeing that first pay day with nothing going out. I can not wait until next month for that hehe

Good luck with your debt free future

keeny1975

Thank you to all who have replied to this post.

One more question is it safe for me to do overtime yet it will I still have to give half of any additional earnings to my Iva?

Normal contributions have stopped.

longtermplanner

It is now safe because you aren't making any contributions out of earnings so it doesn't matter if your earnings rise.

(The grey area is windfalls. There was a story reported here a month or two ago that someone had received an inheritance quite a long while after their IVA contributions had finished but before the completion certificate was issued and their IP said it was a windfall. IMO that is an abuse of the administrative delay situation and if it was me I would be considering formal complaints and legal action about it.)