My IVA is coming to an end after 5 hard years, will the payments stop leaving my bank account automatically or do I have to inform my bank to stop payments please.
Also will I be informed that my final payment has been received by Grant Thornton and what happens next with regard to being signed off so to speak.
Hi -- if you pay by standing order you need to stop this with your bank yourself.
If by direct debit, in theory GT should not claim the payment when no longer due -- but I would not rely on that happening.
I would start asking them to confirm your last payment due date and cancel the DD after that date. It is far easier to pay any missed payment over the phone than it is to get one back!
GT are not renowned for keeping clients in the picture, so keep at them!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thank you for the information Foggy, it is really appreciated and makes total sense, I will indeed start asking for the last payment due date. and also inform my bank when the end date draws nearer. thank you regards Lionel
