www.iva.co.uk

Hi there

I received my completion certificate 7 months ago for my iva..

I am just about to sell my house , but there is restriction showing on the land registry.

How do I get this removed when I sell do my old creditors have entitlement if there is equity.

Or is it a case once you have completion certificate your are completely debt free.

Many thanks.

M

Hi,

Speak to your IP company and tell them to remove the restriction - it may well be an oversight on their part.

You are debt free -- there will be no call on any of the sale proceeds. Either your former IP failed to lodge an RX4 or Land Registry lost it. Get the IP to re-submit.

Thanks for the replies.

M.

Just decided to check my restriction had been lifted after reading this and it hasn't!! Finished my iva over 4 years ago and currently going though remortgage so am going to have to get this sorted asap. Glad I checked now.

Get back in touch and tell them to remove the restriction¬

This seems to be a common problem so like I said in an earlier post I would urge everybody to check this when their IVA is completed. It costs £3 with land registry. Mine was soon removed once I raised the issue with Payplan.

How long would you leave it after receiving a CC before checking the land registry?

It should be removed straight away.

The RX4 should be sent to LR the same time as the certificate is sent to you. I don't know LRs turnaround times, but know they are not the fastest. I would leave it 8 weeks or so before checking. BUT I would also remind the IP and get him / her to confirm the form has been lodged.

Thanks I will confirm with my IP to make sure.

My letter says "all relevant parties including creditors will be issued a copy or my completion details" but it certainly doesn't hurt for me to check with them!
Surprisingly the letter also said "it is not our responsibility to notify credit reference agencies of the completion, you may wish to contact them directly". I know it won't drop off until the six year anniversary but it would be nice for the defaults to be marked as 'completed'. Still I don't mind doing this.

kentgirl wrote:

Thanks I will confirm with my IP to make sure.

My letter says "all relevant parties including creditors will be issued a copy or my completion details" but it certainly doesn't hurt for me to check with them!
Surprisingly the letter also said "it is not our responsibility to notify credit reference agencies of the completion, you may wish to contact them directly". I know it won't drop off until the six year anniversary but it would be nice for the defaults to be marked as 'completed'. Still I don't mind doing this.

Have a read of this little guide I penned: http://www.iva.co.uk/what-does-an-iva-d ... dit-record

"When your IP issues the certificate the Insolvency Service is also informed. They, in turn, report to the three credit reference agencies. You will be removed from the Insolvency Register within three months, in the meantime your arrangement should be shown there as completed. Also, within a few months, your IVA should be shown as completed in your credit files and defaulted accounts should be marked as satisfied / partially satisfied and show a zero blance. Whether you want to challenge any creditor who doesn't do this is up to you, considering that the whole shebang, however marked, will drop into oblivion on the 6th anniversary of the default date anyway. If you do want this corrected then, again, the Data Controller is the person to write to. "

Thanks Foggy.

Just remembered to check to see if our restriction has been lifted - so paid the £3 etc and it's most likely a STUPID question, but as it has NO mention of Payplan - does that mean it's all lifted?! I guess if it hadn't I would see it on this document?!

Sounds like it was lifted so you can relax.