After Completing, Question by Question
A practical checklist for making the most of finishing.
What should I do first after completing?
Get your completion certificate and keep it safe. Your supervisor issues a certificate of completion confirming the IVA is finished and the included debts written off. This is important proof, so store it carefully. If any old creditor ever contacts you about an included debt, the certificate shows it was dealt with. Securing this document is the natural first step once you finish.
Should I check my credit file?
Yes, and soon. Check your reports with the main credit reference agencies to confirm the IVA shows as completed and the included debts as satisfied or partially settled, with nothing wrongly showing as outstanding. Errors are not uncommon and can hold your score back unfairly. Spotting and correcting them early gives your recovery the best start.
How do I fix any errors I find?
Raise a dispute with the agency. If something is recorded incorrectly, the IVA still showing as active, debts marked as unpaid, you can dispute it directly with the credit reference agency, which must investigate and correct genuine mistakes. Keeping your completion certificate handy helps. Getting your file accurate is one of the most worthwhile things you can do right after finishing.
Will I come off the insolvency register?
Yes, within about three months. Your entry on the public Individual Insolvency Register is removed roughly three months after your IVA completes. You do not need to do anything for this to happen. If you want, you can check the register after that time to confirm your entry has gone. The credit-file marker stays longer, but the public register clears quickly.
How do I start rebuilding my credit?
With steady, simple habits. Register to vote, pay everything on time, consider a credit-builder card used lightly and cleared in full, and keep any balances low. Check your file periodically. These steps rebuild your credit reliably over the months and years after your IVA, and the marker dropping off at six years from the start adds a further lift.
Can I start saving now?
Yes, and it is a great habit to build. The limits on saving that applied during your IVA no longer apply, so you are free to build an emergency fund and save towards goals. Using the budgeting discipline you developed during the arrangement, even small, regular saving creates a buffer that helps you avoid falling back into debt if a surprise cost arises.
Should I change my bank account?
In time, perhaps, but no rush. If you switched to a basic account for your IVA, you may eventually want to move to a standard account with more features. It can be worth waiting until the marker clears and your credit recovers, as applications are easier then. There is no obligation to change, your basic account works fine, so do it when it suits you.
How do I stay debt-free?
Budget, save, and borrow only carefully. The best way to protect your fresh start is to keep living within a budget, maintain an emergency fund, and use credit only when you can comfortably repay it. The habits that got you through the IVA are exactly the ones that keep you out of debt afterwards. Completing an IVA is a strong foundation to build on.
Should I get advice?
It can help you finish strong and stay that way. A free, impartial adviser can help you check your file, rebuild effectively, and plan savings, and steer you clear of costly 'credit repair' offers. Completing an IVA is a real achievement, and a little guidance helps you make the most of it. It costs nothing, and it sets you up well for the future.
