www.iva.co.uk

Hi, I am due to make my final payment on 18th November 2017, ive completed 5 years and then another 12 months. Obviously I am excited about getting to the end but I am reading some horror stories that this might not be end. I have never missed a payment, I have complied with everything.

My concerns are do I have to through another financial review? What does that entail? It says on some sites that you have to close bank account ,why? I have had the same bank account for over twenty years and all my bills and salary are paid in and out of it. im just so worried that this isnt the end.

jan824 wrote:

Hi, I am due to make my final payment on 18th November 2017, ive completed 5 years and then another 12 months. Obviously I am excited about getting to the end but I am reading some horror stories that this might not be end. I have never missed a payment, I have complied with everything.

My concerns are do I have to through another financial review? What does that entail? It says on some sites that you have to close bank account ,why? I have had the same bank account for over twenty years and all my bills and salary are paid in and out of it. im just so worried that this isnt the end.

At the end there will be a final review, similar to those previously conducted, but focusing more on income, rather than expenditure. This is to make sure all the income during this final year is accounted for.
Closing bank accounts is normally advised for the start of an IVA, not the end and is because the bank is often a creditor, might be anti-IVA and close the account anyway ( there are a few) and, also, some banks will only allow a basic account, so might change you to one of those.

I kept two accounts open - one was a full account with a cheque book and the other a basic one which has now been upgraded. You don't have to change if you don't want to.

As Foggy says, a final review is normal and is nothing to worry about.

Yes and unless you have changed IP firms the review should be the same as it has been on previous years. As long as your income hasn't increased or bonuses and windfalls etc received then there shouldn't be an issue.

I'm with Payplan and made my final payment last week, all they asked for was my October payslip as no review was required. Don't know about other companies though.

I completed with credit fix in March & wasn't asked for anything. We had done an extra 6 months due to a payment break in 2013. Completion certificate came 2 weeks after final payment so closures can run smoothly. Hope yours does for you.