IVA under £15k

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EskimoLou

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Post by EskimoLou » Tue Apr 07, 2009 7:04 pm
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After reading a few posts about the minimum disposable income for an IVA being around £200;I was wondering if there are many people out there with IVA's for less than £15k?

My total debt was around £10,600 and i currently pay across £100 a month
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MelanieGiles

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Post by MelanieGiles » Tue Apr 07, 2009 9:15 pm
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There are no minimum levels for either contributions nor debts - only commercial ones set by individual firms.
Regards, Melanie Giles, Insolvency Practitioner
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David Mond

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Post by David Mond » Wed Apr 08, 2009 5:18 am
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Melanie is right but in practice there are very few cases where an IVA can be done with less than £10,000 of liabilities. My firm has only ever done one with liabilities of £9,600. The lowest monthly contribution my firm can do is around £170 per month.
Last edited by David Mond on Wed Apr 08, 2009 5:20 am, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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