IVA is done!

Coralee

So the day finally came 29th March our IVA finished! I believe they are in the process of sorting our file ready for completion it has to go through there insolvency firm first as Varden nuttal are in administration!
I was wandering when the IVA would drop off my credit score? It's not dropped off yet? I was told it would automatically drop off? Our clear score file is due update in 14 days? And our experian is due soon too! Do I need to do anything or not?
Any advice would be greatly recieved

sourcrates

Six years it will show on your file in total, as will the associated defaults.

After that, gone forever.

Coralee

Yes it's been six years but it hasn't dropped off yet? Was 6 years 29th March,

Cookie331977

Hi first post on here, an IVA wont drop off your credit report in 6 years if you are still showing on the insolvency register. Check the register to see if you are still on there, i guess you could be if you haven't had your certificate of completion from your insolvency practitioner. You can be on the register upto 3 months post completion. I know this as my iva company never told the insolvency register that i had completed and i had to chase them to get my record updated. Hope this helps

Vikipollard

Cookie's right - it won't drop off until you no longer show on the Insolvency Register.

For me, because my IP (Grant Thornton as was) took a ridiculous amount of time to issue the completion certificate (11 months), it showed on my credit files and the Insolvency Register for almost seven years. So although I'd finished my IVA in Sept 2012, it was Aug 2013 before I got my certificate.

The Insolvency Service were excellent though, in that I sent them a copy of the certificate and they removed the entry the next day after receipt.

sourcrates

Insolvency register usually updates very quickly.

If your details were shown on there for longer than nessesary then you must of been unlucky, as they are normally fairly quick at updating.

Lincsdebt

My IVA disappeared off the Insolvency Register exactly three months after the completion certificate was issued. It does say on there that it will be visible for three months after completion but mine went straight after that.

ontheup1972

My IVA was completed in 5 years however it took my IP (Freeman Jones) 11 and a half months to issue my completion certificate.

So within 1 month of receiving my completion certificate, my IVA dropped off my credit file, as that took me past the 6 years of starting the IVA.

I stayed on the insolvency register for exactly 3 months after the completion certificate - so my point here is that it is not necessary to come off the insolvency register before the IVA is removed from your credit file as some others have suggested.

chirpychick

Ours ended in December, certificate issued and received in march and mine is still showing on equifax though nowhere else.