Hi, I'm not actually sure how far through the process I am at the moment as I'm trying to cope with today and not look too far into the future! I think the proposal to creditors is being drafted.
Is it normal to pay off your creditors in a lump sum through family help or is this unusual?
Also, one a figure has been agreed and the money is paid over, how long until I can actually say it's all behind me?
When you receive your proposal do check it thoroughly before signing is my first piece of advice.
Some people offer a full and final settlement with the help of a 3rd party others like myself make all the payments due and the IVA then concludes.
Your IVA stays on your credit file for 6 years from date of acceptance, therefore even if you pay it off by way of F&F it will remain on the credit file. Once you have received your completion certificate and credit files are cleaned up I guess it's behind you then.
Any other questions do ask.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Thanks for that Lesley. Does the completion certificate take a while to come through? I've been reading a lot of posts on this website this afternoon (just found it and wish I had a month or two ago!) and it seems some people wait a while. I have no reason for being so impatient, but like the idea of receiving a completion certificate, as it will feel like its done and dusted if you know what I mean.
The completion certificate appears to vary in time to be received from different companies. I finished my IVA in January and received completion certificate in April. Others I know have been waiting a considerable time longer than that whilst others receive it before that. Completion is being held up currently due to PPI and by the time you finish I would like to think that issue will be resolved.
Glad you're enjoying the forum. there is mostly someone about to offer advice/support. Which company are acting for you?
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hello and welcome. The completion certificate could arrive in weeks or, I am afraid, many months, depending upon who you are with and how, if at all, they deal with potential PPI.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I'm using Melanie Giles and they have been fantastic so far. It's really good to find this forum and be able to ask the questions from people actually going through it. I still feel really scared, but it's lack of knowledge too and I can hopefully pick up on a few things here! I don't think I ever took out PPI, but I'm guessing it will be looked into on my behalf in case there is any money that can be passed on to my creditors.
Mel and her team are really on the ball.