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?

I am in an IVA with a reputable IP and paying religiously into it. I have approx 5000 pounds worth of payments till the 60 months are up. The recovery company collecting the monies from IP has sent me two statements that reflect the total amount owing and not the money owing according to the IVA agr...

thanks to all of you for your advice and comments

thank you, this has made things very clear for me. Just a final question though: do IPs and insurance companies like early settlements or do they prefer the monthly payment over the whole term? are they always on the lookout to see if they can get more?

so they want to know where that cash for the pay off is coming from? sure, what if my missus got a job or someone from friends or family gave us the cash? I thought that settling before iva's term has run was very common...how to go about this then? thanks to all contributors for helping in such dre...

But if I offer to clear the whole amount before the review is due how will they know that I worked extra? it isn't devious because I would be working solely to pay them off? do they not encourage people to pay up in lump sums...is this not productive for them?

Dear Sir or Madam, Next year, in 2010, I will owe 5000 pounds by the time my annual review is due. If I took on a weekend job (now that I have sent my annual review to my IP) to save that 5000 pounds until the 2010 review could I then pay it off or would the IP expect to keep 50 % of my extra earnin...

Dear Sir or Madam,

Can the IP request bank statements from someone in an IVA and if yes is this common?

Thank you

Placido

Thank you very much Andy and Peebee.

Thank you very much for your comment. How long does it take, typically and in your opinion, until a creditor goes doen the CCJ route? I am fully paid up until now but I will start making token payments until the creditors meet and defaulting (approx. 12 weeks of this) thank you again Firstly a Balif...

Thank you very much for your comment. It ties in with what my IP said. I am only worried until the IVA is approved (fingers crossed) and because my wife isn't English and she is pregnant and I don't want her to be harassed. Also, I have never had any dealings with debt collectors/bailiffs. Do you th...

Firstly a Baliff would not even be involved until a CCJ was issued assuming you are talking about unsecured loans. Companies cannot just send the baliffs round when they feel like it. What they can do is send people round to collect monies in person, but you have no obligation to let them in, or ev...

I am just applying for an IVA now, I have been paying my creditors on time for the last four years, since my debts started, without defaults. now my wife is pregnant and cannot work and I am paying out so much money in repayments I have no option but to apply for an IVA. Are creditors likely to send...