What Happens Now

[blair78]

Hi

Today my creditors accepted my F&F Settlement and its a great relife but i wanted to find out what happens now.

I was told i would get some info in the post and it would still take about 6 more months for everything to be cleared up.

I am looking at getting a mortgage in the next couple of years and also wanted to know how having and IVA will effect me.

Thanks
Blair

[KAYKAY]

Huge congratulations. You can now start living a debt free life. Please be aware that even though your IVA has completed early with F & F, it will still remain on your credit file for the full 6 years from acceptance. This goes for any defaults on your credit files too, so it may take a little while to clean up your files. Whilst the F & F has been accepted, you are still not released from your IVA until you have your certificate, but now the money that used to make up your montly payments is now all yours to do with as you please.... enjoy

[Struzzo39]

Aww fantastic news. Enjoy being debt free x

[kallis3]

Congratulations from me as well.

[Daveyboi]

Congratulations Blair

The up to 6 months to completion at the moment can be for various things such as any PPI claims still awaiting receipt of or the VAT claim IP's have been making to the HMRC after a high court ruling last year. It could also just be a delay in the creditors making their final claims. Until you get the completion certificate you are still bound by the IVA and you will find it very hard to get a mortgage. After 6 years from date of the IVA Acceptance the defaults should fall off your credit file. If after your completion date you check your credit file and there are default dates shown later than the date of IVA acceptance then you need to write to the creditors concerned and get them to change it.

If you are looking at going for a mortgage in a couple of years time you might wish to email Ryan who posts on here. You can email him on the ask a question section on the left by finding him in the expert section. He is the forum mortgage expert and apparently his advice is really beneficial especially when it comes to approaching companies who don't unfairly judge IVA completed applicants as if they were ex bankruptcy.

Good Luck and way to go on completing

[clarelm99]

Hi Blair

Congrats to you. Enjoy

Clare

[blair78]

Thanks for the help everyone