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Hello! I'm finally free of the IVA!

Had a variation meeting yesterday and my full and final has been accepted! Found out today, with all my creditors voting yes.

My initial terms meant I was paying £100 pounds a month for 60 months.

Overal debt approx £11,000. Paid 13 months = £1300

Meaning £4700 was left to pay into to the IVA.

Offered £5000 to close the IVA, kindly put forward by a third party.

And today, a day after the variation meeting, I get the call that my full and final has been accepted. I feel sick with excitement...

I'm officially, debt free. It's hard to believe.

Can't wait to get my completion certificate and take charge of my finances again.

Thank you all, coming on this forum has really helped me when times have been tough.

I'll be sure to be sensible in the future and NEVER get myself in debt again, what a learning curve ey?

Ok, so now it's time to ask a few questions.

Will my current debts move to "settled" on my credit report?

When will I be removed from the insolvency register?

Any tips on building my credit score again?

And also any other tips you folk have.

Cheers,

Jman

Congratulations !

Have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record

Creditors mark the old debts in various ways, but it makes no difference as, correctly defaulted, they will disappear, however marked, at 6 years.

You will come off the Insolvency Register within three months of the issue date of the completion certificate, although it is usually three months to the day !

Glad to hear you are one step closer to debt freedom. The next few months waiting for your certificate will hopefully go quickly. Well done!