www.iva.co.uk

I make my last payment on august 1st woo hoo!! However, just had a thought. At what point am I out of my iva terms? Is it then or when I eventually receive my completion certificate? Just wondered as want to try to get a credit card to start to rebuild credit history etc. Not sure when Im allowed!! [:I]

It's when you get your completion letter.

oh, now I see why people are so chewed up waiting for the certificate! So even after paid last payment, I will be bound by terms of the iva, i.e. overtime etc. Thats a shame, as I was hoping to start to get my life back and try to get some savings, something I havent been able to do for a long time. Will they still want me to send payslips in still whilst waiting for certificate, that seems harsh when not paying the payments any more.

Well done to you on reaching your final payment date. Have to say though, the very last thing I will be looking to sign up to as and when our IVA is complete is a credit card. Completely banned in my house from the date of our IVA acceptance. Each to their own I suppose.

I said I would never have a credit card again but I ended up applying for one so I could use it to rebuild my credit history. I don't see a problem with a credit card providing it's paid off each month.

As long as you are sensible with it and pay it off in full every month then there they are useful for building up your credit rating again.

I forgot to congratulate you on making your last payment. Sorry!!

that is the reason I want one too. Believe me, as far as credit goes, it will be the minimum. I have no intention of getting to the point I was at before. Knowing I can maybe take out a phone contract etc later on is a good feeling. xx

thanks harpic, cant quite believe Im nearly there. [:)]

Sorry if this is a daft question, but here goes anyway. We are still paying a mortgage and various other stuff on a monthly contract (mobiles, car insurance, car breakdown etc), does this not help with you credit score?

I think the real finish is six years when everything drops off your credit file and assuming you've kept your current account spot on then there's not a lot to fix, and there are other ways to improve your credit rating! I think the whole credit rating thing is a con it's an industry designed just to sell you products you don't need!

Hi and welcome Sonj77 i think in answer to your questiong re overtime etc, once you have paid over your last payment and this has been clarified and confirmed by your IVA company that is it, no further payments. The only grey area is of course windfall/inheritances etc. Good luck i'm not far behind you on this one. xxx

You will not be subject to the conditions of the IVA re overtime monies and provision of information to the IP - the case should be closed as quickly as possibe following your final payment.

Well done sonj77 on getting this far in your IVA. Rollon August and getting your completion certificate so you can put it all behind you.