www.iva.co.uk

Posted: **Mon Jul 30, 2007 4:39 pm**

Hello, I have been in an IVA for 2 1/2 years. I am about to release equity in my home to exit the IVA by changing mortgages. It has been agreed with creditors and total I will repay 40p in the £.

What I am wondering is what happens next? How long before I get the completion certificate? How can I correct my credit rating, will I need to do anything or is it automatic?

I suspect I will need a new car in the coming months and do not want to pay 20% + rates for a loan. Why do these companies rip off those who can't afford to pay that interest! We are easy targets.

Posted: **Mon Jul 30, 2007 5:00 pm**

Hi mks
Your IVA will be on your credit file for another 3.5 years.You can send your completion certificate to the credit reference agencies for them to mark that your IVA is completed.You should get your certificate through a few weeks after your IP has made payments to your creditors.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Posted: **Mon Jul 30, 2007 5:06 pm**

Hello mks and Welcome to the Forum,

An IVA will still show on your credit file for the total of 6 years, eventhough you are offering a Full and Final Settlement. As Andy has mentioned once your creditors have received payment your I.P should send through your certificate of completion.

Best Regards. IVA Experts