Get expert opinion. This is the place for new questions to be posted.
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Chris.lv
- Posts: 2
- Joined: Wed Nov 06, 2013 1:23 pm
our last iva payment is 1/3/2014. do i cancel the standing order or do they just stop taking the money .what happens after this date or just prior.
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ClareSilver
- Posts: 597
- Joined: Tue Jan 15, 2013 2:15 pm
- Location: United Kingdom
If it's a standing order, then you remain in control and need to cancel the payment with your bank. If you don't then the payment will still go out.
After your last IVA payment, your IP will have a period of 'housekeeping'. This is usually between 3 and 6 months and it will enable your IP to pay final dividends to creditors and issue a completion statement and creditor summary.
Have all of your PPI claims been dealt with? Which company are you with?
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villapb
- Posts: 111
- Joined: Wed Nov 06, 2013 1:15 pm
- Location:
Hi apart form an issue we finish in Feb and our standing order will be stopped just in case......it should be dated to end that date anyway but stop or cancel it soon as payment gone.......
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kazzafunk
- Posts: 4749
- Joined: Sat Mar 19, 2011 6:47 pm
- Location: United Kingdom
I rang my our IP after the final payment was made to make sure I could cancel the standing order. A final review will be undertaken by your IP to make sure there are no further monies due (if you have had overtime in the final month or a bonus etc) then you should be able to cancel.
Well done on getting so far through your IVA!
