I have just made my last payment. What happens next?

[placid]

I have just made my last payment after five years...what happens next? how can I get off the insolvency register and how long will it take? how long will it take until mortgage lenders will consider me? what do I do next?

[Shining]

You're debt free! Sit back and wait for your certificate of compliance to arrive and you will come off the insolvency register in due course, I do believe your IP informs them.

Mortgages I'm not sure about but I know Ryan who posts as a forum expert may be able to help with that.

[Niobe]

Well done on making the last payment.

As Lesley says, give our resident mortgage expert a call - you can find his details under the 'Ask a Question' link on the lefthand side of the page.

You need to check your credit record as well - any defaults registered after the date of IVA acceptance need to be removed.

[TigerTiger]

As Lesley says, now 'sit back and wait' - and wait, and wait, and.....

[MelanieGiles]

Generally most mortgage lenders will consider you when there is one year following your IVA being completed, but your credit file will not be cleared until six years from the time your IVA was accepted.