What Happens at the end of an IVA

Your IVA will complete once it has reached its agreed term.

We will make sure you have finished all your scheduled payments as laid out in your IVA’s proposal, and we will ensure that you have complied with all your other obligations, such as the potential realisation of any assets.

Once this has been confirmed, you will be notified that your IVA has completed successfully and you will be sent a ‘certificate of completion’ to prove this.

Once your IVA has successfully completed any outstanding balances will be written-off an you will be officially debt free.

On receipt of your certificate of completion you should send a copy to each of the 3 major credit reference agencies, namely ‘Experian’, ‘Equifax’ and ‘Credit Call’.

They will then update your credit file to show that your IVA has finished and all balances should be marked as ‘Satisfied in Full’.

3 months after your IVA has completed you should make sure your name has been removed from the Insolvency Register by visiting the Governments Insolvency Service’s website.

You should also request a copy of your credit file from each of the 3 credit reference agencies named above, 3 months after the 6th anniversary of the beginning of your IVA, to ensure the IVA has been removed in the normal manner. If your IVA is still listed then you should contact them and ask them to update your file.

Once your IVA has been removed from your file you should be able to begin the process of rebuilding your credit score.