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A good starting point for IVA questions
By Chris1
#30741
Hi all, My IVA is due to end in September finally! What happens at that point? Am I clear from the last payment or I need to wait for some paperwork?
By Melissa S
#30743
Hi There Chris1 and welcome to the forum
Firstly congratulations on nearing the end of your IVA.

You are right to ask this question as you are not 100% clear of the restrictions of an IVA until you have received your certificate of completion.

This should only take around 6-8 weeks and if you have still not received it after 3 months I would make a formal complaint.

Some IVA companies have been known to hold on to the certificate for 2 years! which is completely unacceptable.

You may be asked to sign a deed of assignment by your IVA company, this would mean that they would still have a claim on any PPI compensation you may be due but this is usual. get advice before you sign anything but this would mean you would get your certificate quicker.

I have attached a link below that will help you :)

what happens when my IVA is finished
By Chris1
#30778
Why would my IVA company keep hold of my certificate for 2 years?
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By Geraldine
#30780
Hi Chris1

Great hear that the end is in sight with your IVA :) Melissa's comment on it possibly taking up to two years to get your completion certificate is an extreme. It should take no longer than 2-3 months. The two years reference is to some examples where IVA companies have delayed issuing certificates because they are waiting for PPI claims to run their course. If you tell us which company you are with we can advice on the likely timescales for getting your certificate.

By the way have you thought about repairing your credit file after your IVA? There is a great guide on this site about how to do that if you are interested: How to improve your credit rating after your IVA
By Chris1
#30824
Hi Geraldine thank you for that. Fingers crossed for the completion to be through before xmas then!
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By Geraldine
#30837
Yes indeed Chris. Please let us know how you get on :)

By the way did your IVA company ask you to claim for PPI mis selling during your IVA? If not when you have got your completion certificate you can do so (although you will need some help) and it would be well worth your while.

To find out more about claiming for PPI after your IVA have a look at the link below:

Claiming PPI after your IVA has finished