My certificate of full implementaion is now in my possession and I had to take a few days to digest the pros and cons.
Now a few questions to the experts :1) How soon should my name be taken off the Insolvency Register and 2) should I apply straight away for my credit reports or should I delay it for a week or so bearing in mind that the credit reports will also need to be updated etc.
Thanks for all the postings and contributions made by the IP's and forum members in assisting me this far. Keep up the good work.
Your name should be off the register shortly, just keep checking.
Your IVA will be on the credit record for the full six years from completion so there is no rush to sort your record out. Just check within the next 12 months and make sure that everything after your IVA completion is either noted as satisfied, or in the case of defaults after IVA acceptance, removed - otherwise everything should drop off after 6 years.
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.
Bob Marley. http://kallis3.blogs.iva.co.uk
The insolvency register states it will be removed 3 months after completion when I look at my entry but as various posters has stated it has disappeared much quicker than that.
Your credit rating is destroyed until all your defaults fall off, I personally have already subscribed for a few pounds a month even though mine hasn't finished yet, so I can monitor the defaults and then start to take action when I complete so that in about 1.5 years from now it will be clean of all my previous debts.
Last Payment - November 2011 - Completion Certificate received 2 weeks after last payment, Removed from Insolvency Register within 4 weeks after last payment.
The register should update as soon as the IP informs them, so it's down to theem.
You can get your credit record sorted as soon as you get any creditors who have defaulted after the date of IVA acceptance to remove those defaults.
The IVA will remain on there for six years though.
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.
Bob Marley. http://kallis3.blogs.iva.co.uk
