When did my iva finish

emmiebelle

Hello

My full and final settlement was agreed in March 17 with my creditors

Is this when my iva should be completed

I received my completion certificate today and it says July as the date it was completed

I I only got this as up chased them, but in my head I finished in March . My iva company have constantly done things wrong so want to ensure this is not the case

Any info would be gladly received x

National_Debtline

Hi Emmiebelle,


IVA's should be recorded for 6 years from the date it started. I would suggest you check all 3 credit files, to see if they have been updated correctly. If they haven't been then make a request/ complaint to the IVA company and ask this to be done. If they fail to update the credit file you can escalate the complaint to the governing body (and raise any other concerns they have with them) and you can also write to Experian with a copy of your certificate of satisfaction to get it updated.


Laura
@natdebtline

emmiebelle

Thanks

But I want clarification on when you would say I finished

Was it when my creditors agrees it ended or when they signed the completion certificate

I would say it was the creditors meeting

phil2580

The completion date of your IVA will be the date stated on your Certificate of Completion. This should normally be issued within 4 weeks of your last payment (in your case your Full and Final settlement), however the Supervisor usually has the power to delay issuing the certificate to resolve outstanding administrative issues, such as making a final dividend payment to creditors, writing and distributing the final report, notifying the Land Registry and Insolvency Service, plus a plethora of other things that need to be done before the certificate can be issued.

I would (slightly) disagree with the National Debtline advice regarding your credit files...
The Credit Reference Agencies (CRAs) update the IVA marker on your file from the Insolvency Register. Updating the Insolvency Register can take up to 90 days, then you need to allow up to a month for the CRAs to carry out their "monthly load".

Additionally, it is up to the individual creditors to notify the CRAs of the settlement of each default, and they may only (legally) mark them as partially satisfied.

I'm intrigued to know what your IVA provider has "constantly done...wrong"? In my 10+ years in the industry, while I wouldn't claim that all IVA practitioners are whiter-than-white, in the vast majority of cases, most "errors" are actually misunderstandings of the Ts & Cs of an IVA, and the IVA process as a whole.

emmiebelle

My main issue was that they paid my creditors wrong and wanted to delay further my iva for their errors

Had my income down as a lot more than what I actually earnt, I had to correct them numerous times.

If I hadn't chased them then nothing would have got done