Creditfix queries and closure

BreakdownPending

Hiya. Me again. The dreaded IVA just cropped up in my mind. So I thought I’d ask on here as you put my mind straight last time :)

If all goes to plan I am 18 more payments of £256 off of completing the 60months.

I don’t own a home or anything of significant value. So will that likely be it once I have made the 60 payments? I keep reading stories about people having to pay for an extra year?

Also with creditfix do you know what the closure process is? Is it 3 bank statements and 3 payslips like a normal review?

I know I’m a while off yet but just keep overthinking it and just can wait to be done with it

thanks

sourcrates

What does your agreement stipulate?

As you are no doubt now aware, IVA`s are meant for homeowners, the requirement used to be the client had to attempt to re-mortgage in year 5, and if that wasn`t possible, then a further year of payments would be required.

The IVA protocol has changed since then, I don`t know if that requirement still exists, look at your agreement or ask your IP customer service rep, one or the other should be able to tell you.