I'm debt free and so happy

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Amy.j
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by Amy.j » Tue Oct 03, 2017 3:49 pm
I'm debt free and so happy my creditors accepted my full and final settlement offer yay!
Just so I know as my parents have asked what happens now? I still would have had approx 3 and a half years left of paying my arrangement, does it stay on my credit rating until 2021? Also will my name be removed earlier than 2021 from the individual insolvency register?

Having been in a IVA it really learnt me a lesson and I am so relieved! McCambridge Duffy was with were wonderful and so supportive I would highly recommend!!! :-)
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Keith White
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by Keith White » Tue Oct 03, 2017 4:15 pm
Many congratulations!!
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Foggy
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by Foggy » Tue Oct 03, 2017 4:18 pm
Congratulations.

Have a read here:

https://www.iva.co.uk/what-does-an-iva- ... dit-record

The IVA will be on your credit files for 6 years from the start, as will any defaults registered (they should also be dated around the start date of the IVA, or before). You will come off the Insolvency Register within three months of the issue of your completion certificate (it is often three months to the day). The issue of this certificate can take a few days, or a few months. McCambridge Duffy are among the faster ones, but sometimes things are out of their control.
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kallis3
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by kallis3 » Wed Oct 04, 2017 7:20 am
Congratulations from me as well!
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Michael Peoples
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by Michael Peoples » Wed Oct 04, 2017 10:46 am
We are delighted for you Amy and you can now move on. Once the funds are paid in we can move to close the file and notify the Insolvency Service. However as the others have said your credit file will not be totally cleared up for six years from the start of the IVA regardless when your name comes off or the IVA ceases. The main thing now is to enjoy your debt freedom and start to look for that car.
Amy.j
Posts: 66
by Amy.j » Wed Oct 04, 2017 1:31 pm
Michael Peoples wrote:
We are delighted for you Amy and you can now move on. Once the funds are paid in we can move to close the file and notify the Insolvency Service. However as the others have said your credit file will not be totally cleared up for six years from the start of the IVA regardless when your name comes off or the IVA ceases. The main thing now is to enjoy your debt freedom and start to look for that car.


Hi Michael

Payment was already in my account before my variation meeting I made the payment as soon as I received the funds :-) thank you ever so much for all your help! I'm looking forward to my future and of course to get a new car yippee! :-)
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