What happens when we complete our IVA in august ?

[Gary.z]

me and my wife have almost completed our iva. Finishes august this is our 6th year in paying. It has been a hard struggle as wen have 3 teenage children. What happens then?

[kazzafunk]

Hi Gary and welcome.

As soon as your IP confirms the last payment has been made then your IVA is complete. Hopefully by then the VAT refund issue will have sorted itself out as at present it is taking 6 months + for some people to receive their completion letter.

Then it will be the lovely job of checking your credit record to make sure no defaults are showing dated after the date of your IVA being approved.

Well done on almost getting to the final hurdle!!

[luluj]

As this is the sixth year of paying your credit file will be cleared as soon as the anniversary is reached. You will need to review your credit files and ensure any defaults shown are no later than the start date of your IVA ....if they are then you will need to contact the relevant creditors asking them to change their details.....they will probably ask to have a copy of the completion certificate. My suggestion if the closure is held up with the VAT saga would be to ask your IP to provide you with a letter saying that last payment received and case has now been referred to the closure team....it worked for my friend and the credit reports were amended!