Coming to the end of an Aperture IVA

NikkiWilde85

Hi, my husband completed his 5 year IVA with Aperture in April, they’ve told him it will take him 6 months to process the ‘closure’, they said they would be contacting all the interested parties to get confirmation they’re happy to close the IVA. That was a recorded message he got when he called them to check what needed to happen next. They haven’t directly contacted him since the completion date passed and we haven’t been asked to do his income and expenditure for 2019/2020. We’ve stopped making his payments and they’re not chasing us for them - so I’m presuming all is good.... does anyone know if that’s normal? Not really sure what to expect...
We’re planning to start rebuilding his credit score as soon as we can but need the IVA to show as settled as currently his score is 0! 
Any help or advice would be welcome
Thanks
Nikki

mwarby

It’s normal to take a few months to complete the IVA. Sometimes there will be a final review to check for windfalls or undeclared overtime etc, sometimes it will just be a case of you confirming this.

The last think to happen is they prepare a final report, which completes the IVA and breaks down costs, how much everyone got etc. That report also comes with a completion certificate.

it does take lenders a few months after getting this final report to update their records and your credit file. This is because until an IVA completes it’s possible it could fail, and the debt becomes collectible again. So after a few months you need to check default dates, and possibly the amount shown as outstanding (but by this point you’ll be not far off the accounts being removed completely, so is of limited value unless you are particularly wanting credit before the 6 year point)