Hi, Does anyone know how long it takes to close an IVA. We made our 60th payment last month and the guy I spoke to over the phone confirmed it was our last payment, told me to cancel the Standing order and we would hear from them in a month. Its now 5 weeks since and we have heard nothing. As you can imagine we would like to enjoy our Christmas but dont want to touch our IVA payment money just incase. What do you know about the closure procedures please?
It varies from company to company. The ip has to make sure that all monies have been paid to the creditors and just to tie up any loose ends.
If you've been told to cancel your payments then you should be ok. Get them to confirm it in writing.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Your IP should be able to confirm an approximate wait time for you. Congrats on making your last payment!!! Must be hard to believe it's finally over??? x
Seems it can be anyhting from a month to a few depending on if all your creditors have made a claim as they have to be chased up etc! At least now you know all your payments have be made etc, so just kick back for a bit!
Arty
IVA completion and certificate received 08/10/2012!!!
