Hi everyone,
Good news,i have received my proposal, signed and sent it back yesterday. My dividend is 38.3p in £, in everyones experience is this good? is it likely to be accepted?
Waiting for the meeting date..... Feel like i'm starting to get somewhere now, its a tiring process isn't it!?!
emmadw. Dont take my advise on it as I am not an IP, but based on the information I have read on here in recent months that sounds very reasonable. And also it is obviously what you can afford which has got to be the best option for your creditors. I have had offers to settle with some of my creditors for less than that.
The average return is 39-40p in the £ so you almost there at the outset. Many IVAs offer lower returns but ultimately as Fedup says it is more to do with best offer rather than actual dividend return.
You stand a good chance of acceptance with that kind of dividend. Your IP would not put through an propsoal if they thought it would be rejected.
Good Luck
Dont try to guess whether you will be accepted on your dividend compared to others as its all about the best offer on the table for your creditors. I am returning just 12p/£(although mine is a trust deed rather than an IVA),but each case is different and can only be judged on its own.
I am sure you will be fine as 38p/£is a decent return for your creditors.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
It is all about affordability at the end of the day, and some people can't afford as much as others. The creditors will know this and be happy that they are getting some money back.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
emma. To give you an idea how different divvy's can be. I recall reading on here of a gentleman who had creditors to the sum of circa 160k. He was going to returning 17.4p in the £ and that included a £15k lump sum in year 2 ( I think year 2). His IVA was accepted. Other manage closer to 100 % return but need time to achieve that (breathing space). I know David Mond and Melanie have noted on hre about cases as low as 5p to 6p in the £, but I would expect these would be exceptional circumstances.
Hi - I'm the person Fedup refers to and since that 17.4 was accepted, I've now had a full and final accepted for 14.5p/£ so as Fedup and others have said, the dividend, it occurs to me, can be from (in my case) 14p/£ to some on here who are returning 75p/£ - it's all based on affordability I think and not the amount of borrowings.
Futureisgood. Thanks for that I was sue I had read something and my memory does not seem to be as bad as I thought. If you get a min could you extend on your earlier post to let us know how you managed to change over to a F & F. Possibly something I will be looking into.
Cheers
