We can’t guarantee that you will be fully recovered in five years but if you’re not, you will be very close to it. On occasion, it can take an extra year but five years is standard practice for most IVA’s. It is also possible that you could recover earlier if there is the option of a lump sum settlement.
Changes to your IVA completion date can sometimes come into effect if you are unable to make your monthly contributions for a while due to a change in personal circumstance. It is also important to note that although you will have recovered at the end of your IVA, your credit rating will still be affected for another year.