www.iva.co.uk

Hello,

I just need a little advice regarding my IVA completion. My final payment to my IVA was made in August 2011 to RMS Tenon. The 1 year anniversary date for my IVA was in April 2012. I have spoken to RMS Tenon and they have said that they still have been advised by the IVA regulator not to complete anybodies IVA and they have no timescale for when my IVA will be officially completed. This means that I cannot even get a overdraft facility from my bank or start to get my credit history built back up again to a level that I can obtain a mortgage. My question is this; will my IVA be completed this year, or is it likely that I will have to wait 7 years to get any kind of credit again (without paying 2000% interest rates)?

Many thanks

Chris

Hi i think its unexceptable that companys are holding cases open and as far as i have read this issue has now been resolved but did cause in most cases, a six to eight wk set back on IVA completions. but every one has had problems and at the moment we are being told its around 3 to 6 months wait but why the hell you have waited that long is amazing! really should put presure on the company to close your account.

matt

Hi Christopher, I don't know the answer to your completion certificate question, but you could apply for a Vanquis card now to start rebuilding your credit rating, I know the interest charge is high but if you repay fully every month then thats academic, and personally I would stay well clear from an overdraft....

If the IVA has not been completed/closed then you shouldn't try and get any credit as your IVA will still be showing as active on the CRAs and technically you would be in breach of getting credit if you did not inform your IP as silly as that sounds.

I would guess Vanquis would reject regardless anyhow as your IVA is still open and then you would have to wait 3-6 months before applying again so hold off on that.

On a positive note they accepted my application after I applied 1 month after receiving my certificate and my IVA was off the insolvency register so demand that certificate and closure.

Christopher.cp, don't apply for a Vanquis Credit Card untill you have your Completion Certificate, i applied and received a Credit Card from Vanquis then found out that i could have had my IVA failed as it was a Breach of the IVA, so i immediately cancelled the account and cut up the Vanquis Credit Card, i will wait untill i receive my Completion Certificate before applying for the Vanquis or Aqua Credit Card again.

Regards David.