What happens at the end of my IVA?

Once you’ve paid your final IVA contribution you will be informed that you have successfully completed your IVA and details of this will be recorded on your credit file as well as with your creditors.

Any remaining debts that are outstanding after all your repayments have been made will then be written off leaving you completely debt free. You won’t quite start with a clean slate though as your credit report will still contain details of your IVA for a further year, after which time it will be removed.

Once this happens you should be able to successfully apply for credit again but you should consider this very carefully as many people find it all too easy to fall back into the credit trap and you could soon start racking up more debt after all you’re discipline and hard work to become debt free through your IVA.

If you found this answer helpful you may also want to look at the following:

Will my IVA be made public? What about my credit rating?


Call now on 08000 43 43 47 to discover if an IVA could be the solution to your debt problems or complete our IVA Wizard and see if you qualify for an IVA.