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boychild
- Posts: 47
- Joined: Fri Nov 09, 2007 7:15 pm
- Location:
We are 5 1/2 yrs into our IVA and have 6 payments left, the end is in sight at last!
My question is what happens after the last payment? Is our credit file wiped clean? Or is it another year before its clean? Do we get a certificate of completetion or something?
Also we have NO intention of building up debts again, but need to try and restore our credit rating so where would we start and how soon after?
Thanks in advance x
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ginger3232
- Posts: 2610
- Joined: Tue Jan 11, 2011 4:06 pm
- Location: United Kingdom
boychild - may take a few months for the completetion certificate to come through - until that does and the insolvency service ,notify the CRAs your IVA is complete it will remain on file. When your certificate comes through then it times to check all three CRAs - to makes sure defaults etc are all correctly dated.
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TheMatrix
- Posts: 2171
- Joined: Sat Mar 17, 2007 8:32 pm
- Location: United Kingdom
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by ginger3232
When your certificate comes through then it times to check all three CRAs - to makes sure defaults etc are all correctly dated.
No need to wait!
It will have been 6 years so defaults should have been deleted by then. You should check NOW that the default dates are correct at all three Credit Reference Agencies and if they are not get them corrected NOW.
That way at the 6 year mark you only have to worry about the IVA record which gets removed 6 years from when it was registered as long as it's marked as completed at the CRA.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
