I have an IVA 10 payments to go. The IVA will run just over 6 years. 2 months were added on for a payment holiday. When does this get removed from my credit file? At 6 years or actually when it officially finishes? I'm with Freeman Jones and not getting any luck getting hold of them. Also, does it automatically come off.?
It should come off when you finish and FJ send the completion to the credit agencies. It will remain on the Insolvency Register for up to 3 months once they are told you have completed. Check to make sure your default dates are correct.
FJ will be closed until tomorrow but we do have a rep from there who posts on here so I am sure he will pick up on this.
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So am I right in thinking that it will come off the credit file as soon as FJ send them the the info, and then it will come off the insolvency register 3 months after we have completed it?
Yes I have checked all my default dates and luckily they are all April 2014 so they should all hopefully just drop off.
Not quite .... First FJ will inform the Insolvency Service and it will take them three months to remove it from the Insolvency Register -- however, they should mark it completed. The Insolvency Service, in turn, will report to the Credit Reference Agencies to tell them the arrangement has completed. As it will be, as you say, a little over 6 years since the start it will drop off almost right away ( It stays on record for 6 years or until completion, whichever is later). This is from the time that FJ issue the completion certificate, not from the last payment date. It could take a few months after the last payment for the magic to happen.
Drop me an email (to ian.williams at freemanjones.com) when you've made your last payment and I'll keep an eye on your Completion Certificate for you. We appreciate that you'll want to get it sorted as quickly as you can! Ian