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IVA full and final settlement & queries

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IVA full and final settlement & queries

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dayleb23dayleb23 Forumite
9 posts
First Post
Hello, I am currently on an IVA, and have been for 2.5 years. I have a further 10k to pay off to settle the IVA and I am planning on offering them 5/6k that is being gifted by my partner. 
Upon looking at my credit check on Experian and ClearScore, neither of them show the main creditor as a listed account either 'closed account' or 'open' or 'in default'. But there is everything else on there that's ever existed. When speaking to the company that im in the IVA agreement with, they stated that the main creditor still have not sent their supporting documents into the IVA company to prove the debt I owe. And nor did they vote on the opening of the IVA agreement 2.5 years ago. This seems suspect to me. Why are my other creditors listed on my credit check, but the main creditor isn't? (3 in total, all others have responded).
Another point that needs noting, is that I am only in debt to this particular creditor because I part exchanged a car back in 2017, and the dealership took my old car, didn't pay off the remaining balance and went into liquidation, after already illegally selling my old car on. leaving me with 2 car payments to make and only 1 car. Its this creditor that is not anywhere to be seen on my credit file and I don't understand why. I would discuss this with my IVA company but then I don't want to shoot myself in the foot if there is a loophole available here. 

Furthermore, if I do manage to pay off the IVA early and complete the IVA, I understand that the marker remains on my credit file until 6 years from the date the IVA started, regardless of how early the IVA is paid off. Is there a slight possibility that I would be able to contact the Financial Conduct Authority (I presume its these that I would need to approach) and ask them that due to the terrible circumstances of the reason I am on the IVA in the first place, and with all supporting evidence of the dealership doing me dirty, would they consider removing the mark from my credit file early?  

Main questions I would like help with; Is it worth keeping quiet about the main creditor not being on my credit file whilst I offer 5/6k to clear the IVA in a hope that they stay neutral and don't vote on the settlement meeting again, as they didn't before and have had no cooperation as of yet with the IVA company. Thus working to my advantage as the other creditors should accept the offer as I only owe them around 2k collectively, the main creditor is around 13k, but as I said they haven't confirmed this yet.

And is appealing to have your IVA marker removed early a possibility? and if so, who do I contact for this?

Thank you. 


  • foxy-stoatfoxy-stoat Forumite
    6.4K posts
    Fifth Anniversary 1,000 Posts Name Dropper
    If you have been in the IVA for 2.5 years then the fact that the creditor hasn't submitted forms wont change your IVA as the other 75% of the creditors have voted to accept your IVA, so I wouldn't pursue that any more.

    You wont be able to change material facts, your IVA started when it started and the information on your credit file is correct.  As long as none of your default dates on your credit files are sooner than the start date of the IVA, just let time sort out your credit file.
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