Final year of payments

Get expert opinion. This is the place for new questions to be posted.
2 posts Page 1 of 1

wakeywakey

Posts: 54
Joined: Mon Jan 23, 2017 9:48 am

Post by wakeywakey » Tue Aug 30, 2022 12:44 pm
Hi guys,
So somehow (I really don't know how) I have managed to enter the final year of payments in my IVA
So my question is what can I expect at the end, if I do indeed get there (not so sure with all the cost of living crisis)?
Does the IVA company carry out a final review at the end as I have read with some and how long does it take to remove the warning off the mortgage?
How long does it take to remove from IVA register also?

Breezy

User avatar
Posts: 195
Joined: Thu Jun 24, 2021 10:04 am

Post by Breezy » Tue Aug 30, 2022 1:51 pm
Have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record

They should do a final review, concentrating more on income in those final 12 months, rather than expenditure. Then, in house, they will review the whole term, dotting the i's and crossing the t's. Then finalize dividends to creditors. This should take a few months -- some do it in weeks, some take up to 6 months. After that they will issue you with a completion statement and they will also inform the insolvency service, who will take up to 3 months from then to remove you from the insolvency register. It is often 3 months to the day, but there have been a few instances where they have acted sooner.

Here's to a smooth final year.
I am not qualified to give advice and can only state my opinions, based on my IVA experiences.
2 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”