Hi all its finally here thursday is my 60th payment in my iva and then its done wahooooooo its been a long time coming
i sent of my final review I&E to GT 4 weeks ago and on saturday received the letter to confirm no extra increases were to be paid over etc so i rung GT yesterday to confirm that thursday would be my last payment and that this date was correct and asked if i had to sent in my last 2 months payslips for october and november as they wasnt sent in my I&E review paperwork and they said i didnt need to send them in as anyone else experienced this?? Would anyone advise sending them in just for completeness?
Also (sorry for droaning on) they said it would take six months for my completion certificate to come and i still cant obtain credit or even try and rebuild my credit rating in this time as i would be in breach of my iva
is this right?? not that i want credit as i really dont but i wanted to try and start correcting my credit score but obviously cant if im going to end up in a breach i just thought once the past payment was sent out i could start trying to rebuild this
Firstly well done and many congratulations on reaching the end, your IVA will remain on your record for 6 years from date of acceptance so as you are now at the 5 yr point you can't really start rebuilding your credit until it drops off your file in another years time
i understnad that but didnt realise even after ther last poayment goes out your still bound by the iva for 6 months??? wasnt told that initially all them years ago lol
why does it take 6 monyths to do a completion certificate but only a few weeks to check your income and expenditure is this just a GT thing?? i have seen on other posters that they have received theres within a couple of months or so but not 6??
yes although your payments are complete, they are correct in that until you get your certificate of completion you are still bound by the terms of the IVA with regard to any windfalls you receive etc.
It can take a few months as they have to ensure all creditors have put their claims in, tie up all the loose ends and review the full 5 year IVA completely to ensure they can close it off, sometimes it comes through in a few weeks sometimes longer
Until you get that certificate you will be bound by the terms of the IVA. Some companies appear to be quicker with issuing this and concluding all the paperwork than others. Well done on getting this far, any plans for the extra money you'll have now? x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
treating my bf to a very special xmas presents this year for starters my iva started before i met him and if it wasnt for him i dont think id of survived this last 3 years with all the treats he has bought me over the years
Well done for Thursday Kel-23 - you will probably have never felt so happy to make a specific payment in your life! Bet it never felt like you would get to this point when you first started out but look at you now- great inspiration for anyone else starting out.
Happy celebrating!
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
