What happens once the IVA payments stop?

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john701

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Post by john701 » Fri Feb 21, 2020 10:08 am
What is the procedure at the conclusion of IVA payments ?
Have done 4 years then a short time lapse, asses house,
Then payed another 12 months which is now concluded.

Foggy

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Post by Foggy » Fri Feb 21, 2020 10:20 am
In total you should have made 72 payments, including the equity extension. Once these have been made the IP should inform you to stop making further payments (if they haven't -- ask). Then the file will be checked over by the closures team. They check that all payments have been made and all income accounted for, as well as that the creditors have all had the correct dividends. This takes from a few weeks to a few months -- in some cases up to 6 months.

After all the checks the IP will issue you with a completion certificate --- have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record and the last few entries in my blog (link to the blog in the signature block below my posts).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
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