www.iva.co.uk

When we enter into an iva and don't get me wrong it was the best thing we did you are told pay for 60 months and then you will be debt free. To have to wait as some of us are almost 2 years for closure after final payment and still be expected to conform to all the rules and regulations of an iva I think is an absolute disgrace . Someone somewhere should step in and sort this out.

I agree entirely Geordie.

In which way?

All ways, wiggle.

I agree - 60 / 72 months and it should end x

Is there not some financial watchdog making sure that the iva companies are keeping to their side of the bargain. Is it our fault that mistakes are made and therefore closure can not happen even though all payments have been made as requested and on time.

What I meant was what rules and regulations? Do you mean applying for credit and such things?

Applying for credit would never ever happen in my world now,but you still can not open a proper bank account or savings account unless you can prove with a certificate that you are finished and a recent post on here re inheritance said they will take it off you if you still Have not had closure. It seems they can delay for as long as they like and there is absolutely nothing you can do.

ah, I see, wiggle. I was talking about the unfairness of having done the agreed term and THEN being saddled with in excess of a year while the IP sotrs stuff out that should have been dealt with earlier, all the while being expected to pay over inheritances and windfalls.

Oh my God I had no idea they could carry on taking money from you.

not payments, wiggle, but some firms will still hold you to the terms of the IVA until that certificate is issued, and take windfalls etc.

The more sympathetic IPs will absolve you of these obligations while you wait ... but not all.

Good grief! How unfair!

Unfortunately, until you get that all important letter that tells you have completed, you are still bound by the terms of the IVA.

That's awful, not that I'm expecting a windfall any time soon. But it's the principle.

This, apart from the psychological benefits of a Certificate of Completion, is why so many of us see this slip of paper as the Holy Grail ---- the Final Absolution, whereas many IP's see it as a worthless letter signalling the end of their relationship before moving on to the next.