Congratulations on finishing the IVA

A partial payment mark will, in any case, be eclipsed by the IVA remaining on your records for the next 3 years, so no biggy. Then it will sit there for another 3 years --- it is not disastrous.

If you qualified for the IVA criteria you would be unlikely to satisfy the DRO criteria

McCD are not known for dragging their heels and are usually quick off the mark. However, it can take up to 6 months.

No -- they will not pursue you for any debt written off by your previous IVA.

Best of luck with the meeting. Don't forget that some of the situation you find yourself in is down to the creditors themselves. They make credit so easy, and painless at the point of sale that you find yourself in far deeper than you imagined, before you know it.

As well as all the other criteria, which I assume you know, after all allowable living expenses you must have less than £75 per month disposable income. You need to speak to an approved intermediary (like Citizen's Advice) to work out your I&E.

Hi Kallis i spoke with them last week and they are going to arrange a creditors meeting asap ! They have all the relevant documents from me but have also asked me to do another expenditure form. Im confused as to why i need to do one as we have offered them the full outstanding payments left (8 mon...

What conflicting advice are you getting ? I know that the mortgage market, as a whole, is in a state of turmoil at the moment, with lenders changing goalposts as the current cost of living / interest rate crisis is up one day and down the next, with lenders changing criteria and products accordingly...

That post also relates to defaults, which are a different animal. The situation now is as it has always been : The IVA will drop off after 6 years, as long as it has been completed and signed off. Most IVAs are 5 years long, which allows a year for things to happen, some are 6 years ( some even 7 ) ...

Debts often get sold on. The new "owners" are bound by the IVA as were the original creditors. Pass the details to your IP to sort out. You might get demands for payment, in which case tell them about the IVA ( you may need to send copies of the paperwork ). Many debt purchasers do not realise there...

The IVA remains on file until the 6th year anniversary of it's start, assuming it has successfully concluded. Completion does not happen until your IP issues a completion certificate, which can be up to 6 months after your final payment.

Amongst other things they have to check the whole of the arrangement, re-visit old reviews, dot i's and cross t's, to make sure all is in order to prepare final accounts. They have to get creditors to agree that their claim has been dealt with fully and finalised. When everyone is happy, they can si...

6 months plus is the norm these days, and has been for quite some time. A few firms manage it in weeks, but they are few and far between. I think a lot of it is down to reduced resources (staffing) and the completed arrangements drop of the priority lists, no longer bringing in revenue -- just my op...

Interesting read, so am I to write and correct things which have defaulted after the start of my IVA now or do people wait till the 6 year point to see if they become removed? I am keen to make sure things are clean as soon as I can after 6 months as it may open up extra employment opportunities wi...

Well done, Parki, and thank you for the kind words.

Have a read here for the clean up : https://www.iva.co.uk/what-does-an-iva- ... dit-record

Onward and Upward