I'm 4 years, 5 months into my IVA with Creditfix and have 3 months of payments left of a debt of £30,285 (including fees). I've come to realise they aren't the best with communication after asking them what happens after I've settled the balance, but yet to receive a reply. I'll be paying back 100% of what I owe so could you explain what happens after I make the final payment please. Thanks
After your final payment (and check with CF that it is ok to stop your direct debit). They may want to do a final review to make sure everything is ok and nothing is owing. It can then take up to 6 months for a completion letter to be issued and until then you will still be bound by the IVA. Your monthly income will be yours as soon as your final payment is made.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk