How does the end of an IVA work

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matthew319

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Post by matthew319 » Thu Aug 27, 2020 6:09 am
How does the end of an IVA work if your IVA has been extended? Mine initially was 5 years and then I was allowed to have some of a large PPI payment back, I'm in the final few months and have no idea when I'm likely to receive my completion certificate, or if at 6 years I'll automatically be removed from the insolvency register?
Noone seems to be able to answer these questions.

kallis3

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Post by kallis3 » Thu Aug 27, 2020 8:04 am
Depending on which company you are with, it can take up to six months for your completion to come through. You won't come off the register until 3 months afterwards. You may have to complete a final review just to tie any loose ends up.
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.
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Foggy

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Post by Foggy » Thu Aug 27, 2020 8:40 am
It will be the same as any other conclusion, just delayed in your case. There will be a final review to make sure any income has not been missed. The case will then be checked internally and final dividends distributed to creditors --- this usually takes around three months, but can take up to 6 (sometimes beyond). Some firms manage this within a few weeks.

Have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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