www.iva.co.uk

Hello all,

We have just completed our IVA with Freeman Jones, there are no additional monies required to be paid in, so have cancelled our direct debit, I was just wondering what will happen next, when should we check our credit
Files etc. Many thanks

Hi and welcome,

Well done for completing. You now have to wait for your completion letter which will mean that you are totally debt free (apart from a mortgage if you have one). The IVA will come off the Insolvency Register within three months of the completion being issued.

The IVA will remain on your credit record for six years from the date it was originally set up but you can check your credit record withe all three agencies - Call Credit (Noddle), Clearscore (Experian I think) and also Equifax. Any creditor still showing a default should be contacted with a copy of your completion and told to remove any defaults back to the start date of the IVA.

Hi Michelle

Have you been issued with your CC yet or do you just mean you have finished paying your contributions?

It takes some IP firms up to 6 months to actually lose and issue the CC so if you haven't had your keep the pressure on your IP to close asap.

Once you have your CC you will come off the register within 3 months. Check here:

https://www.insolvencydirect.bis.gov.uk/eiir/

Then once the 6 year anniversary has passed since you started, if it hasn't already, you can begin to tidy up your credit rating.

You might find this quick video I made about cleaning up your credit record useful:

https://www.youtube.com/watch?v=PV4RzUY4BRM

Noddle and Clearscore are also free credit agencies to consider using:

https://www.noddle.co.uk/
https://www.clearscore.com/

PS well done on getting to the end!

Well done. As well as the useful links Lisa has given, have a read here regarding credit clean up:

http://debtcamel.co.uk/repair-credit-record-iva/

Dear Michelled1186,

Congratulations on completing your IVA.

If there are no additional monies due and everything is in order then we'll aim to have your completion certificate with you within 4-6 weeks.

In the meantime if there's anything you need then please feel free to pop me an email to Steve.hewitt@Freemanjones.com

Congratulations again.