www.iva.co.uk

Hi Everyone

I posted a while back about my IVA being settled early as i became pregnant again and my mum kindly offered to settle it for me, thankfully it was agreed and i paid my IP Debt free direct (who have been great) about 3 months ago, just wondering how long it takes for them to send me the proof that i have paid it in full? Also what do you do with the proof for it to reflect on the credit ref agencies?

Many thanks Emma

Hi Emily,

It can sometimes take a while for things to be completed, hopefully Declan can pick up on this next week and find out for you.

As to the credit agencies, the IVA will remain on your record for six years from acceptance regardless of the fact that you have finished early.

You should send for a copy of your credit file from Experian, Equifax and Call Credit and make sure there are no defaults added after IVA acceptance, if there are then once you get your completion letter you need to write to those creditors enclosing a copy of the letter and tell them to remove the defaults.

Thanks Jan,
I have just looked at my credit report and most of my creditors defaulted me a few months after i started my IVA, is it going to be a nightmare to have these removed, i imagine it is!

As Jan says any defaults should drop off 6 years from the date the IVA started. Any defaults registered after the IVA was approved can be amended but not removed until the 6 year point.

Keep hassling your IVA firm for a certificate of completion.

Paul

I was under the impression that they had to remove them once the IVA was completed, as defaults should not be registered after the date of acceptance (although they obviously are)so sending a copy of the completion letter should mean that they are removed totally now.

Well done on your completion and hope you get that certificate very soon. x