www.iva.co.uk

I keep reading about the payments given to creditors and its confusing me.

the ccs are arrnaging itand they have said the total debt is £43000 and monthly payment of £439, so what does this mean? is this a good amount?

chelle

A basic way of getting your p/£ figure is to work out how much you will pay over the 5 years. 439 x 60=£26340. That would give you a return to creditors of 61p for every pound you owe,but Ip's fees and running costs will still have to come off that. If you had costs of say £5k over the 60 months you would pay back £21340 or 49p in the pound. A good amount if you ask me.

Paul