www.iva.co.uk

Hi, Please can I have advice, tomorrow will be 6 years since I started my IVA, I finished it last August after 5 years when suddenly they couldn't send me the completion certificate till the PPi was completed. I wasn't too concerned as knew I need the six years on my credit history anyway, however the PPi is still not completed, there are 3 left to reply I have had to sign 3 sets of forms now, also apparently one has decided to offset although they are advising this is not legal. My main question as I feel terribly depressed over this situation and need to move on. From tomorrow 6 years after my iva started will it still be on my credit file as I don't have the completion certificate. My Iva company have been great until the PPi situation who are rude and just say it will be done when it's done! Is any of this legal? I would never of gone into an iva if I'd of known it was last longer than 6 years!

How awful for you. I agree that it is too long and it's sometimes he who shouts loudest but that's not right really but can work so do keep pestering them. We should be allowed to move on with our life after completing our IVA.

There's nothing unlawful going on, it's just that you can't have a completion certificate issued until all claims and distributions are made - if there's PPI claims ongoing that explains it.

Frustrating for you no doubt, as it does seems an excessively long period of time but understand the IP has obligations to do the creditors too, to ensure they get as much money back as possible.

Saying that, complaining couldn't hurt - hopefully that should speed things up for you.

What always puzzles me is how some companies can do it in a relatively short time, others take years not even months but years...I think when all contracted payments are made, so long as something is signed to say collect any PPI you find the IVA should end. As without that certificate if you received an inheritance or a lottery win would this be payable or part of it into the IVA fund?

Thanks for response, so does this mean somewhere in my IVA proposal it states that they can keep it open for as long as they like? 6 years ago when I started the IVA PPi claims wasn't in the headlines. What if something else pops up? I'm really interested to know if the IVA stays on my credit report past 6 years?

I think it will stay on record until you get that certificate, but the individual defaults should drop off, providing they were dated correctly. It will be interesting to find out !

It's an interesting question about keeping the IVA open to retrieve assets. My paperwork stated that they had 6 months for final administration which could be extended twice, on serving me notice, once by 6 months and once by 3. As it happens I got my certificate in 6 months (almost to the day)and I never got the chance to test what would happen (I WOULD have pushed the matter ! ).

Other wording in other arrangements might be more woolly.

Update, my credit file is clear 6 years post IVA apart from the IVA which won't disappear until I get the completion certificate, meaning I can't apply for jobs needing credit checks, mortgages or get on with my life at all.

Even better PPI claims are basically done, everyone replied and all good but one did have PPi and have offset the money! £500!! IP company said they won't close it down till it's sorted with the FCA! They have asked for legal advice, This could take years and years! Does anyone think or have they taken any legal advice on the delays, IVA finished a year ago, extended for max of a year in report for PPI, PPI wasn't started until after I made my final payment so taken over a year. Now 1.5 months over the 6 years and being told this could be an ongoing thing?