www.iva.co.uk

Today we received our completion certificate! Hooray!! It took 11 months, a moan on this forum (seen by a DFD expert) and a high number of emails afterwards for it to happen.

My questions are:

1. How long will it take for the IVA to be removed from our credit file?

2. After the IVA and the fact that our mortgage is with NRAM, will it ever be possible to release any equity in our home?

3. Will we have to wait until the IVA is gone from our credit files before starting to pursue equity release?

4. If we have any future windfalls (money from death of a relative or PPI claim for example), will we have to offer these to DFD? We did not sign the new 2014 terms and conditions at all.

Thank you in advance of your advice.

Hi. Well done, Taylor:

1)It should drop off after 6 years from the start date, but will take a while to get through the system and up to three months to come off the Insolvency Register. See http://debtcamel.co.uk/repair-credit-record-iva/

2) Yes, it will be ... time is the healer.

3) Yes, although it is remotely possible before hand but would be at eye watering rates.

4) At the moment, PPI is still payable to DFD, but, assuming you have made no assignment to them, the current court case might alter that. Inheritances and lottery wins after the date of the certificate are yours.