Hi All and a Happy New Year !!!
I have 3 payments to go now and I am just wanting to know what is a reasonable time to expect my certificate after last payment? I have asked this question of GT and they have told me it will be at least 6 months? It seems a very long time ? Your thoughts please. And also anyone got advise about how I sort my credit rating out. Thanks for reading hope you can help.
Gt are known to take up to six months for completion after your last payment.
Your IVA will remain on your record for six years after the initial start date and should drop off the Insolvency Register within three months.
You should contact all three credit agencies to see if any defaults were registered after the start date.
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
They are notoriously slow and you may have to nag them on a regular basis.
6 months should be the maximum not the minimum for finalising things.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
You would write to them when you get your completion certificate. I sent all 3 a copy of mine. from my last payment it took 8 weeks to receive my cc. The date of my completion was 29th September 2015 and it only disappeared off the insolvency register 29th December, exactly 3 months. My iva started 10th august 2010 so I have checked all defaults are recorded on or before that date. I am now just waiting for the 10th august this year when the iva and defaults will drop off my credit file. Im just happy im off that dreaded insolvency register now.
I was with \GT, did take 6 months to issue CC. GT sent the CC information to the Insolvency service as soon as it was issued to me. Name came off the register within 3 days. I have taken no action with the credit agencies as I have to wait until 21/01/16 before all my defaults drop off. I signed up with Noddle and ClearScore, which is part of Equifax, both of these are free to register. All my defaults are showing correctly and ready to drop off without any intervention from me so I may just be one of the lucky one's. Most of my debts were sold on to TTI Spc, they are known for following the 'rules' of the IVA and I have had no issues with them. I would just wait until the 6 years are up and then worry about it. Nothing you can do as most will just ignore you until this time anyway.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
Closure should take a couple of weeks or a couple of months depending on whether creditors have to be given formal notice to submit their claims in the IVA. 6 months is a farce in my opinion. I think if it takes longer than that it is considered unreasonable and complaints will be considered by the Gateway.
Thanks Lisa, my last payment is end of March. How long would you advise before I start pestering them as I have a feeling from reading through other peoples GT experiences that this isn't going to be simple. I may be wrong but I just want to know what would be considered reasonable.
Its a long shot with such a big firm but if you have the time & energy I would pester constantly so they get so fed up of you and might process closure quicker.
Have they paid interim dividends to your creditors previously? If so this will mean they have already received all the creditor claims and will not need to send the formal notice to creditors meaning the case can be closed even quicker. I suspect all they have to do is write a final report and write the final dividend cheques out - it shouldn't take long but I suspect you might find you have to endure the full 6 months.
You're welcome. It should only take a couple of weeks but it sounds like some of the firms have learnt a complaint is less likely to be upheld if less than 6 months has passed so this is their guide.
