www.iva.co.uk

Hi, Just made our last payment. Grant Thornton say it will be approx 6 mnth for discharge. They sent me the following email:
I wish to confirm that I have now passed your case for closure review. Your case will be reviewed to make sure that all funds have been received and all obligations met. All being well your case will then be passed to our closure team. The closure process can take up to 6 months to complete at the end of watch you will be issued with a certificate of completion releasing you from all unsecured debt.

Until you receive your completion documents your IVA is still technically active and therefore your credit file cannot be updated until you are in receipt of the completion certificate.

Why does the process take so long as all my payments are up to date etc, and we have paid for 5 1/2 years in total. What excatly happens during this process and what is the likely hood of being asked for yet more money even though we are up to date and no missed payments?
Any help appreciated.

Thanks

Hi and welcome.

There will always be a period after you have made your final payment so that your IP can make sure that all creditors have had their payments.

You won't be asked to make more monthly payments but you might be asked to pursue any PPI claims if you were ever missold a policy.

In my firm this process can take anything up to two months - but we do try and do it sooner where we can.

I hope you get closure as soon as tj72.

Melanie always nice to read that as I'm fast approaching that time. x

Hi tj72 - well done on raching the end of your IVA - I know it never feels over until you have the completion certificate in your hand so best of luck and hope you get it soon.

Lesley - in the nicest possible sense we all cannot wait, as I know how much a successful completion means to you both!

Still waiting for our completion cert. Been over 6 years in total now and the company that is chasing our imaginary ppi says it could take them at least 6 month to chase our non existant ppi. We haven't had any to chase. Not a happy bunny at all.!!!!!

Which firm are you with tj72?

tj72 - my case was in closure review for 4 months, before it was passed to closures. And when it is passed to closures, they then quote another 6 months for the case to be closed. So my best case scenario is 10 months from final payment. Any thing else associated with the PPI claims fiasco could also add further time on top of this - and for this it seems they can withhold yor closure cert until such time they deem fit - regardless of whether you've complied with all their requests relating to it or not! Thats why loads of GT customers still dont have closure even after a year or two of waiting! Oh and unlike many more reasonable IPs and firms, they will also hold you to the terms of the IVA until such time they issue the completion cert (such as taking any windfalls).