www.iva.co.uk

I made an early settlement offer on my IVA which was accepted by my creditors in January 14, during my IVA period I chased up and I was successful in claiming back a few hundred pounds of PPI money which I passed over towards my IVA however before I get released from my IVA another company have to officially chase up any outstanding PPI that may be out there. My questions being,

How long does it take before I officially get released from my IVA?

Will the PPI company in there pursuit to do what I have already done delay my PPI release if they drag their feet?

Should I now sign up to a credit score company ie, Experian to help the recovery of my score rating or should I leave it until I am officially released?

How can a credit score company help my score recovery?

How long does the stigma of an IVA effect my score rating after I have been released?

Should I keep badgering both the IVA and PPI companies to hurry up?

Can anyone put my mind at rest or advise me on the best way forward post IVA

Many thanks
Steven

Q)How long does it take before I officially get released from my IVA?

A)How long is a piece of string? Some companies are taking weeks, others months ( in a few cases, years!).

Q)Will the PPI company in there pursuit to do what I have already done delay my PPI release if they drag their feet?

A) Quite possibly. It depends upon how your IP is dealing with the PPI issue in house.

Q)Should I now sign up to a credit score company ie, Experian to help the recovery of my score rating or should I leave it until I am officially released?

A) Might as well leave it. But have a look here:
http://pjgrecovery.com/clean-up-credit-rating.asp

Q)How can a credit score company help my score recovery?

A) They can't do anything that you can't do yourself for nothing but a few stamps (if even that).

Q)How long does the stigma of an IVA effect my score rating after I have been released?

A) It will stay on your credit file for 6 years from the IVA start date ( see above).

Q)Should I keep badgering both the IVA and PPI companies to hurry up?

A) I would suggest regular enquiries as to progress in an attempt to head of any hold ups (squeaky wheels get more oil!)

Hi I completed my IVA with a final proposal back in March 2013 and have literally only just got the completion certificate this march - a full yr on. PPI delayed mine but the IVA company had a review of PPI last September as was holding lots of peoples certificates up and it was decided completion certificates could be given out even if PPI hadn't been resolved but the monies that go to the creditors from the IVA can be delayed until PPI is sorted. I was with Kingsgate and still had to put a formal complaint in writing to get my certificate, after the formal complaint it took two months to get certificate. I was literally ringing and emailing them all the time b4 that and getting different answers. Its worth asking the IVA company your with how they go about the PPI as I can imagine its holding a lot of peoples certificates up no matter what company you are with.

In my experience, it should only take around 2 months for a full PPI investigation to be carried out, however if claims are discovered and lenders refuse to uphold them, then matters are usually referred to the Financial Ombudsman, and they have a current backlog of around 12 months.

If your previous claims management company have done their jobs thoroughly, the new one ought to be able to draw a line under their investigation quickly for you.