Does IVA still come off credit file 6 years from start date when it has been extended ?

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Simondl12

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Post by Simondl12 » Thu Jul 31, 2014 12:07 pm
Hi all, in March 2009 i entered a joint IVA with my fiance and it was for a 7 year (yes 7 years) duration total combined debt apx 80k. Originally we were paying 502pm but due to our circumstance this was varied two or three times over a 2 year period ending up at 200 pm as we were missing payments and genuinely struggling ( agreed by creditors) however the term of the iva was extended (not sure how long by). In march 2013 we offered £2000 full and final settlement courtesy of a family member which was accepted by creditors and we both received our certificate of completion soon after.
My question is as we missed several payments and had the iva extended does the iva still come off our credit file after 6 years from the start (March 09- so 6 years after is March 15??) are the rules different because i was in a 7 year iva?) My credit file states insolvency entered march 09... Am i clear from march 15?
 
 

Foggy

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Post by Foggy » Thu Jul 31, 2014 12:12 pm
Hi. It disappears 6 years from the start of the arrangement, provided it has, as in this case, been formally completed and the certificate issued.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Simondl12

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Post by Simondl12 » Thu Jul 31, 2014 12:20 pm
Thanks for super fast reply Foggy. Appreciated...roll on March 15 so i can start to rebuild my credit score :-)
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