www.iva.co.uk

My husband and I have nearly finished our IVA (just one more payment to go!) but I wish I'd known about this site earlier as you all provide wonderful support.

My question is that we haven't heard anything from our IP (apart from back in February when we had to get our house valued to release any equity - which there wasn't as we'd purposefully gone on Interest Only to avoid this happening). To be honest we haven't had much contact with our IP - apart from when we bought our house during the 2nd year of our IVA. We are worried that if we contact them , they will want something more from us - and we have nothing to give!!!!! What is the usual process for the end of the IVA, should we have received any paperwork from them? Also what can we do to ensure we can put all of this behind us eg clearing our credit profile[:)]?
Hope my rant makes sense - thanks for reading x

Congratulations on getting this far, what a fantastic feeling it must be.

I would have thought that if there were any problems the IP would have been in touch.

To be on the safe side, you could always give them a ring to make sure that your completion certificate will be on it's way once the last payment has been made.

You then need to check your credit file with all three agencies, Call Credit, Exerian and Equifax. If there are any defaults showing after the date of your IVA acceptance, then you need to write to those creditors and get them to remove the defaults.

Your IVA will remain on the file though until the 6 years is up.

Thanks very much for the reply - I'll let you know how we get on.

Rebeccab, just out of interest, how did you manage to buy a house in the 2nd yr of IVA? I didnt think that was possible. We are desperate to move house but thought if our IVA got accepted we would need to stay for the duration? Congrats by the way, you must feel so releived to be nearing the end.

It would depend on Rebecca's terms of her IVA.

As to yours, your IP will put a restriction on your property so you can't sell it without permission.

However I think that if your creditors were happy and you could get a mortgage you may be allowed to move.

We just had to prove that our monthly payments to the IVA company wouldn't go down and that our deposit (given to us by my dad) was a gift ie not another creditor. We ensured we stayed on interest only to both minimise our monthly payments and the amount of equity at the end of the IVA - hence not being requested to re-mortgage at the end of the IVA. Hope things go well for you.

what a great feeling to be at the end well done

Congratulations for nearly reaching the end, and good luck for the future x

Thanks and good luck to all of you - you're on the right track for sorting out your life x

Well done on reaching this far it really is on the horizon now.