In IVA credit check

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markwebs

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Post by markwebs » Wed Nov 14, 2012 10:04 pm
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I'm just coming to the end of my 3rd year and tbh it has been fairly plain sailing so far, though when I get my annual pay rise next year I'll be raising my monthly payment for 15 months but hey, ho!

Anyway, someone mentioned today that at the end of my IVA the practitioner would run a credit check on me. Was just curious as to a) why they would do it b) can they legally do it?

Unimportant question I know, but interested to know the answer...
Last edited by markwebs on Wed Nov 14, 2012 10:05 pm, edited 1 time in total.
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MrsR

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Post by MrsR » Wed Nov 14, 2012 10:08 pm
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Hi markwebs,

I am no expert, but as far as I am aware, the Ip does no do any credit checks on you at any tags in the IVA.

An expert should be along and should be able to answer.
Started IVA 27th Feb 2012 - Due to complete 27th Jan 2018 !!

Full & Final submitted and accepted 30th March 2015, paid 10th April 2015 - 3 yrs 1 month into IVA :)

Completion Certificate received- 30th April 2015!!
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Heretoday

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Post by Heretoday » Wed Nov 14, 2012 10:25 pm
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Perhaps you mean a land registry check to make sure that you do not have an interest in a property? I'm not 100% sure on this but remember seeing something like that in the annual report.
7 years after starting an IVA I finally received a completion certificate from ClearDebt
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MelanieGiles

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Post by MelanieGiles » Thu Nov 15, 2012 12:12 am
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Why would they want to do that? I am sure your IP, by the end of the IVA, is pretty clear as to the extent of your credit rating.
Regards, Melanie Giles, Insolvency Practitioner
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markwebs

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Post by markwebs » Thu Nov 15, 2012 6:42 am
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That's what I thought! Thanks for the answers.
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Shining

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Post by Shining » Thu Nov 15, 2012 7:02 am
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I hadn't heard of this before. With an IVA on your credit rating it won't be in good health so to speak but once it's finished we can all start to rebuild ours. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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Niobe

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Post by Niobe » Thu Nov 15, 2012 7:57 am
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I'm not aware of IP's running any credit checks at the end of the IVA.
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Shining

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Post by Shining » Thu Nov 15, 2012 8:35 am
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Unless some do to check that no further credit is taken? But within an IVA I'm guessing we couldn't get any but maybe some slip through the net? x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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Foggy

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Post by Foggy » Thu Nov 15, 2012 8:54 am
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I doubt they do, unless given a reason.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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