Stressed at the end of my IVA

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by LobsterJohn » Thu Sep 06, 2018 4:14 pm
Hello - im about to make my final payment in December 2018 - after a 6 year IVA with PayPlan.

I asked them what info they would require as part of the completion process.

All they said was: Past 4 years of P60s and one payslip from 2017 which they say is missing from their file.

Nothing else....

I'm so paranoid about the whole thing - the above seems like too little information. Does this ring true with anyone here?

Also what does the practitioner do once ive made my last payment? In terms of contacting creditors etc..? what do they essentially communicate between themselves?

What are the spanners the creditors could throw into the works after my last payment?

I'm scared and worried and stressed - any help is much appreciated.
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by Foggy » Thu Sep 06, 2018 4:35 pm
They will have done annual reviews, so there should be very little they require. For the final year they wll just be looking at income really, to make sure there are no overtime or bonus payments you have missed off. When they are happy they will check the file for anything they might have missed and make a final dividend payment to creditors. Then issue you with a certificate of completion, which is the official end of the IVA.

Spanners: A creditor claiming an increased debt or a new creditor popping up. Other than that, as long as you have declared all income correctly, very little should go wrong at this stage.
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by kallis3 » Thu Sep 06, 2018 5:05 pm
You should be fine.
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