Full & Final Accepted - What happens next?

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djlman

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Post by djlman » Wed Sep 11, 2013 8:32 pm
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I've recently been made redundant, and with the severance I had offered my creditors a sum to finish the IVA 3.5 years early. Thankfully they accepted and I'm about to make my last payment - fantastic!!!!

What happens now? And when will I start to see a change in my credit rating?

Thanks in advance!!!!
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Shining

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Post by Shining » Wed Sep 11, 2013 8:48 pm
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Hi and welcome to the forum. Well done on the full and final acceptance. Not good to hear you were made redundant and hope you find alternative employment soon (assuming you haven't). The IVA will stay on your credit file for 6 years from your original meeting date and once that time is up you can begin to tidy up credit files.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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Foggy

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Post by Foggy » Wed Sep 11, 2013 8:53 pm
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Hi and congratulations. Your case will be passed to completions who will go through the file to make sure everything is in order, all payments up to date, no missed extra income and that creditors have made all their claims. Then you will be issued a completion certificate, at which time you will be out of the IVA.

It will remain on your credit files until the 6th anniversary of the start date. But you will come off the Insolvency Register within 3 months of the certificate being issued.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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