Money Advice Direct
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Once an IVA (Individual Voluntary Arrangement) has been completed, you will be issued with a statement of satisfaction showing that you have fulfilled the requirements of the IVA.
The surplus income you would then have left each month is now yours to spend on what you wish.
The Insolvency Practitioner will also notify the required authorities and it would be in your best interest to contact the various credit reference agencies, to notify them that you have made a full and final settlement of your debts by completing the IVA. This can then be added to your credit file for anyone to see, should they have need to check it.