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Posted: Sat Dec 24, 2011 7:45 am
by hypnomonkey
Hi all, merry christmas.
Out of interest, if a f&f is put forward after an iva has started, if accepted, does that end the iva completely? Or are there still restrictions in place until the 5-6 years are over? ie. Windfall, overtime rules?
Not in a position to do this, just interested.
Useful to know these things incase the opportunity was ever possible.
Thanks
Posted: Sat Dec 24, 2011 8:07 am
by kazzafunk
Hypnomonkey - it ends the IVA completely and you get your completion certificate. The only thing that stays in place is the effect on your credit rating for the full 6 years from the time your IVA was approved.
Posted: Sat Dec 24, 2011 11:13 am
by kallis3
Agree with kazzafunk. The IVA is finished and you will come off the Insolvency Register.
Any windfalls etc after you have received your completion certificate are yours.
Posted: Sat Dec 24, 2011 1:32 pm
by bill01
My full and final was accepted at a creditors meeting on Thursday my I/p said no more reviews or anything all I have to do is do what I agreed.
Can't be any simpler.
Posted: Sat Dec 24, 2011 2:08 pm
by MRBLUESKY
Congratulations bill01 that was a nice xmas present.I agree with all the above.
Posted: Tue Dec 27, 2011 6:59 pm
by stewpots
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by kazzafunk
Hypnomonkey - it ends the IVA completely and you get your completion certificate. The only thing that stays in place is the effect on your credit rating for the full 6 years from the time your IVA was approved.
Can you 'build' your credit rating up in that time assuming you did a F&F which was agreed say in first 18 months of IVA
Posted: Tue Dec 27, 2011 7:05 pm
by kallis3
Your IVA will remain on your record for the full six years even if it is a full and final.
Just keep things like bank accounts, mobile phone contracts up to date and your rating will build slowly.