www.iva.co.uk

Having now completed my IVA and receiving the Administrators "Completion Certificate", do I get a formal Court notice to send to credit agencies etc. If so, how long will I have to wait?

Many thanks for any input.

Hi Zen
Your certificate of completion is the necessary proof to send to the agencies to shows that your IVA has completed satisfactorily.
Congratulations and best of luck for the future.

Thanks

Congratulations on finishing your IVA zen.

I recommend that you request a copy of your credit file from all three agencies, Call Credit, Experian and Equifax and check exactly what is down on there.

You may find that some of your creditors have been putting defaults on your account after your IVA was approved. If so, write to them and tell them to remove the defaults as they are not allowed to do it.

Don't forget that your record will be shot for 6 years from the date of the approval.

Thank you all for your replies.

It's been a hard slog! Not simply because one was in an IVA but the administrator couldn't/wouldn't explain exactly certain of the practicalities of running the scheme.

As a self-employed individual it was quite difficult and I had to resort to independent legal advice.

The point made by kallis3 is noted and I will obtain the credit files.

Well it's another 9 months till everything comes off the credit files but I've survived and I'm sure you will also reach this happy(!) day.


Many thanks


Zen

I think it's great when someone reaches the end of the journey, really gives the rest of us hope.

[You may find that some of your creditors have been putting defaults on your account after your IVA was approved. If so, write to them and tell them to remove the defaults as they are not allowed to do it.]

I am getting this underway from the advice in another post, but was just wondering if I just need to write to Experian, Equifax... or is it the actual creditors that have put the defaults on from the note above?

You will need to approach the individual creditors that have put a default on the account. Good luck

zen140 wrote:

You will need to approach the individual creditors that have put a default on the account. Good luck

What does it mean that creditors have put a default on the account? Can you request that they remove them when in an IVA or do you have to wait until it has completed?

cath defaults will have been put on your credit file before or just after your iva was started,they take 6 years to drop off,when your iva is completed your accounts will show closed or satisfied when they are updated by your creditors.
congratulations zen welcome to the debt free club.

Sorry to be thick, but does default mean that you haven't paid them? Say for example before my current situation if I made a late payment, I would have defaulted, would that have stayed on my credit file for 6 years too?

Sorry to bother you again, but on Equifax I have Status on some of the IVA Accounts of "DEFAULTED" and "PARTIAL SETTLEMENT" and some non £0 amounts in DEFAULT/DELIQUENT BALANCE even of a couple that say "SETTLED" then in Explaination there are comments such as "Payment received as a full and final settlement although the payment would not fully clear the balance" if I write to all concerned eg Max Revovery (MBNL) then should they clear all this information eg remove Defaulted and change to Settled, remove comments about balance not being cleared and change the Defaulted/Delinquent amount to £0 ??