Hi, I've just finished my IVA and have recently received the completion paperwork from my IVA company. What is my next step, do I need to inform experian etc?
Hi well done on completion and for getting that certificate, must be a great feeling. Was it a 5 year IVA? if so it will sit there for another year and drop off automatically 6 years from date of acceptance.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Check your credit records with all three agencies, Experian, Equifax and Call Credit to see what they hold.
If there are any defaults registered after the date of IVA acceptance then you need to write to those creditors enclosing a copy of your completion letter and tell them to remove those defaults.
As Lesley says, the IVA will remain on your record for six 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
Congratulation on getting to the end, here's what you need to do once you have the final paperwork...
Get a hold of your personal credit report from all 3 Credit Reference Agencies (Experian, Equifax and Call Credit)
Check your report ensure that the account details are marked similar to below.
Marked as either Satisified or Partially Satisified.
Status Settled
Current Balance £ 0
Default / Delinquent Balance £ X,XXX - This is the amount of your original default
Date Satisfied - Can be any date
Default Date - THIS IS THE IMPORTANT DATE IT SHOULD BE ON OR BEFORE THE START OF YOUR IVA
If any of this data is incorrect, you'll need to write to each creditor to get them to amend the details. There are template letters on this site to help you do that, and they do work. Latest success is with Santander, who have updated a post 3 month default date to the correct date today on all 3 reports.
Also you should inform the Credit Reference Agencies that your IVA is complete, they should mark your IVA as complete on your credit reference file and it will remain there for 6 years from the start of your IVA.
Check the insolvency register, if your details are still on there, you could try clicking on report error and tell them you completed the IVA and you have your certificate. It may or may not speed things up, I don't know but it did disappear the day after I did this maybe just coincidence.
edit typo
Last edited by TheMatrix on Sat May 28, 2011 5:50 pm, edited 1 time in total.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
Many thanks for the advice everyone, it is much appreciated. It was a 5yr IVA and I am over the moon it is completed, I feel a huge weight has been lifted. Wish you all the v best.
It's brilliant Barry. Keep posting to let us know how you are getting on post IVA.
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
