www.iva.co.uk

Hi
We offered our creditors a full and final complete payment to end our Iva early (2 yrs earlier) which wa accepted.
Now my Iva company is saying that to get our completion certificate, we could wait up to 6 months. Is this correct??

Mine was finished at the beginning of October - slightly different circumstances as my creditors accepted funds already paid to date to end the IVA. My IP has quoted 3-6 months as the timescales for a completion certificate to me and said they have ‘up to’ 6 months. Who was your IVA with?

It can take up to six months - funds have to be distributed to creditors and admin sorted. You can take heart from the fact you are now debt free.

The standard line is 6 months. Some do it in weeks, most do it in a couple of months. Some are habitually slower than others. We, as a group, are trying to get this looked at and have started a petition:

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viewtopic.php?f=145&t=83509

Lumart78 wrote:

Hi
We offered our creditors a full and final complete payment to end our Iva early (2 yrs earlier) which wa accepted.
Now my Iva company is saying that to get our completion certificate, we could wait up to 6 months. Is this correct??

HI yes thats what I been told about mine at Harrington Brooks. Also seen others say they had to wait for the certificate too.

It’s with aperture
Ok here’s another question - I know you’re not legally allowed to sell your home before the Iva is complete but is putting up on the market and “selling” it the same thing?

Lumart78 wrote:

It’s with aperture
Ok here’s another question - I know you’re not legally allowed to sell your home before the Iva is complete but is putting up on the market and “selling” it the same thing?

Aperture are one of the slower ones I am afraid. They used to regard the 6 months longstop timescale as the minimum but have improved a lot recently.

You can market the house now, but any searches, if legal work is started, will reveal the restriction on the title which could be embarrassing to have to explain away.

I received mine within 2 weeks from Stepchange. It all depends on the IVA company.

Well done on having your F&F accepted. Now waiting 6 months for the closure certificate is going to seem an age especially as you want to sell your property - it might be worth asking for the restriction to be lifted now even if the closure continues to take longer so the sale can progress - but bear in mind the iva will remain on your file until the 6th anniversary of your start date of the iva, therefore moving will still show the iva has being there and may impact of future mortgages/property purchases.

We did a full and final to end our IVA early. We were with Harrington Brooks. We received our Completion Certs within 6 weeks.