When will my credit record be clear?

[Neil.dw]

I've been in an IVA since September 2012 which has lasted for 6 years due to not owning our own property after missing a few payments this has been extended to January 2019.

I've been reading that the IVA stays on credit records 6 years after it started so would that mean as soon as the IVA has finished my credit records will/should be clear?

[kallis3]

Did you have a mortgage? If not you should not have had to extend.

[Neil.dw]

We was suggested by DFD at the time that due to not owning our own house, they would only arrange an IVA for 72 months (6 years)

[Shaun Vickery]

The IVA will stay on your credit file for 6 years, or until it is settled if that is later. Sometimes it can take a few months before the Insolvency Register is updated so probably there will be a slight delay.

[kallis3]

Personally speaking I don't think you should have had to extend if you were renting.

[Neil.dw]

The IVA will stay on your credit file for 6 years, or until it is settled if that is later. Sometimes it can take a few months before the Insolvency Register is updated so probably there will be a slight delay.

Is that from the day when the IVA started?

Thanks

[Shaun Vickery]

Sorry Neil, I wasn't very clear in my response....yes 6 years from commencement.

Kallis I think from Neil's original post it was extended due to missed payments.....Neil?

[kallis3]

Could be - depends on how many payments were missed.

[Neil.dw]

Sorry Neil, I wasn't very clear in my response....yes 6 years from commencement.

Kallis I think from Neil's original post it was extended due to missed payments.....Neil?

Yes that's correct extended due to missed repayments

[luluj]

So once your final payment is made the iva should clear relatively quickly once completion process concluded.

[Foggy]

It will take a few months to issue the completion certificate and then another few to come off the Insolvency Register ... then it will clear from the CRA's records.