Hopefully my IVA should finish soon, my last payment new years eve! My question is, and reading all previous questions about mortgages and assets what about my situation were I have no assets or mortgage when should I expect to here that it's ending (with GT) and how different will my ending be to someone who has assets and a mortgage.
I was born with nothing and still have most of it left!
Brilliant news and what a wonderful start to the New Year!
Your new start should be no different to anyone who had assets or a mortgage!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Just check to make sure when your last payment goes out then you have to wait for your completion letter which might take a couple of months (or sometimes longer) whilst final payments are distributed to your creditors.
The IVA will remain on your credit record for six years from the start and on the Insolvency Register for up to three months once your IP has informed them that you have finished.
Then you need to check your credit records to see if any creditors have defaulted you after the start of the IVA and if so, write to them and tell them to remove the defaults.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
As soon as you make your last payment write to your IP and ask them for their estimated closure date. some firms take a couple of weeks, some firms can take up to 6 months and from other comments on this forum I understand that GT is the latter I'm afraid!
Last edited by Lisa Thomas on Tue Sep 29, 2015 11:09 am, edited 1 time in total.
I contacted my IVA company prior to my last payment going out of the bank, asking them to confirm that it was my last payment, and that I could cancel the direct debit as soon as the payment had gone. They confirmed this, and the closure process went smoothly.
