hi all. started my iva back in sept 2004. i would just like to ask what will happen when i make my 60th final payment. do i then cancel my direct debit or just wait to hear from my supervisor of my iva. who so far has been very good.(Mccambridge Duffy)
Once you have made your 60th payment I believe you can cancel your direct debit and write to your Supervisor and request a Certificate of Completion. You have 9 months to go - check that you are not in any arrears and good luck.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Unless I am mistaken, I think that McCambridge Duffy used to guarantee the dividends in their IVA proposals, so you may need to make an extra payment or two at the end to ensure full compliance, in the event that creditor claims may have marginally increased.
Best to check with your Supervisor directly to be sure - but great news that the end is very much in sight for you.
