What happens when IVA concludes and you do nothing

[nickjohn]

Just a quick question, any feedback would be appreciated.

There is a lot of topics at the moment with people who have made their final payment but their IP has continually delayed completion for one reason or another.

What happens if after your final payment you do nothing, that is never chase them or make contact etc. Are you in any form of breach - do you have a duty to contact them to ensure completion or is the ball in their court, what happens if they likewise do nothing.

I can understand the wish to draw a close to it all but would it all still stay active forever and would this still be on your credit file, I read somewhere that any info on your credit file "falls off" after 6 years, is this the case or do you have to make contact and get it removed?

Or is there a statutory time scale at which an IVA terminates..

[orange]

they should write to you to say iva complete then you r free !

[Kev.02]

Hi nickjohn
we emailed our IP asking them if we had indeed made our final payment and ask if we could cancel our standing order,they replied yes you have and yes you can, so we did. We have not contacted them since nor have they contacted us. I dont think the IVA gets removed from your credit file until you get the completion cert but the defaults do drop off after 6 years (mind we are not experts so may be wrong)

[12 months to go]

hi nickjohn

It very much depends which IVA co you are with ? as well as your own individual circumstances eg has PPi been claimed , if so is it all in

i would ( as indeed i did ) contact my IVA Co and ask for confirmation I had made my last payment. i was with DFD & due to no unprompted communication at all on their part after my final payment, i contacted them various times. I may be wrong but it appeared things only happened if I pushed them and as for the DFD cll centre, they neither cared nor had any desire to get me any case sepcific information.

Good luck & best wishes

[luluj]

I would encourage you to stay in contact with your IP even if you believe your IVA has concluded. I would hate you to come unstuck now that you have finished your IVA payments - it is important to receive the certificate of completion, and until this is done your details will remain on the insolvency register.

Unless you have a real reason for not communicating with your IP I cannot see a reason why you would not want to conclude this part of your life and move forwards with a complete clean slate.

[MrsKnight]

I agree with what's been said above, I'd niggle at them to ensure my final payment was complete at their end & ensure things where going through to the completion team & no strings left untied.

congratulations on making it to the end x

[Shining]

I emailed and got a final date for payment and now subject to my final review being ok it should conclude.

It would be good to get an experts view and Melanie may offer one later.

[nickjohn]

Hi,
I think people have misunderstood my post I have not got the the end yet I was just asking a question as to what happens if you do nothing.

The only reason I ask is there seems to be so many posts about people having such a hard time in getting the completion cert and being made to jump through all kinds of hoops I wondered if it really mattered.

Personally I will be no spring chicken when I do get to the end and won't be rushing into any form of debt again nor will I be looking for a new mortgage so how relevant is the completion cert, it is now being shown that even with one post IVA you will still get turned down for credit etc.

I understand the PPI issue, personally I have reclaimed my own and put nearly £10k in the IVA pot, so it is not a case of not wanting to contact them its more a case of not wanting any further stress etc. I think the main driver is that the IP I have is the main one getting all the flack at the moment for poor customers service and dragging out closures.

[luluj]

thanks for clarifying -I had clearly read your post the wrong way !

For me communication throughout the IVA is essential, and you should be working closely with your IP throughout to try and address any issues to avoid them coming up at the end of the IVA term.....hopefully the PPI issue will have resolved itself by then and the time it takes to get through this will have speeded up and have less impact on closure timescales.

[12 months to go]

in that case then nickjohn , i suspect when your time for closure comes around ( not sure when that is as unless ive missed it you havnt mantioned this ) then PPI may well be a thing of the past and closure may well only take a few months as was hitherto the case until around 18months ago

how long have you got left by the way ?

good luck & best wishes

[Heretoday]

Maybe it will be Mis-sold scratch cards by then, perhaps you will have a claim against Camelot?

[MelanieGiles]

It is down to your IP to ensure that your case gets closed in a timely fashion once you have complied with your obligations. The IVA cannot be closed until a final distrution to creditors is made, and a final receipts and payments account lodged with the Insolvency Service - together with you being issued a Certificate of Completion.

[Heretoday]

Hi Mel

What is the timing when a completion certificate is issued with regards to the insolvency register?
Is it done at the same time or is one done before the other?

[MelanieGiles]

All done at the same time - but the Insolvency Service do have up to three months to update the register their end.