Forum Home» Bankruptcy & Living With It» IVA & DRO

IVA offer for partial & Final Accepted - What now?

New Post Advanced Search

IVA offer for partial & Final Accepted - What now?

4 replies 87 views
nikkinoo75nikkinoo75 Forumite
16 posts
10 Posts First Anniversary
Hi,
I have finalised my IVA with a final offer payment and have received the confirmation letter and certificate from my IVA company.
I understand that the IVA will remain on my credit file until the 6 year after I took it out but how do I get all the associated creditor accounts to be marked as settled and closed?  I thought that they would do this automatically but none of them have even acknowledged that it has been completed.  Any advice welcome
Thank you!

Replies

  • dayleb23dayleb23 Forumite
    9 posts
    First Post
    Hello, I have been reading posts on here for the past couple of days and though I haven't personally dealt with this situation myself (yet), I believe it can take a couple of months for the creditors to update your file, and im sure you can chase them up on it directly! 

    (I have also sent you a message regarding other information) 
  • edited 2 July at 8:00PM
    moleratmolerat Forumite
    23.2K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    edited 2 July at 8:00PM
    Unlikely they will mark as settled but instead will mark as partially settled which means the debt is not paid off but no money is owed. https://www.stepchange.org/debt-info/settlement-offers-to-creditors.aspx

  • mwarbymwarby Forumite
    2K posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    Personally unless there is a particular rush I’d leave it 3 months, then make contact through the complaints route for each company which hasn’t updated default date and balance. 

    Writing isn’t essential, web forms and email can work, I’d avoid phone however as difficult to get to right person and keep track

    keep hold of your completion certificate or a scan if it at least, you’ll need it for years to come 
  • nikkinoo75nikkinoo75 Forumite
    16 posts
    10 Posts First Anniversary
    Thank you all :) I will wait a little longer and then send letters if necessary.  I just know that once the monthly defaults stop as the accounts will be closed this will help improve my credit record.  Then a further improvement when IVA has finished Year 6 on my record.  Thank you!
Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support