Hello , im still in process of setting up iva.
Debt management company are proposing i pay back 23p /£ at a rate of 478 a month. Cant afford any more.
Hoping this will get accepted at meeting. Is this rate of 23p in the pound normal for an iva , i was just wondering? Thanks. P S. Great forum
You should be ok. Your ip wouldn't' put it forward if they didn't think it would be accepted and you are putting your best offer forward. That dividend should be fine.
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
Thats the thing with an IVA,its based on each individual case and as you say you cannot afford any more than you are proposing, you and your IP have put the best offer on the table for creditors so it is likely to be acceptable.
Dont worry about what you hear others IVA's being accepted at. Fingers crossed for a positive outcome.
Out of interest who is representing you?
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
I'm with them and mine accepted with no problems. I am sure you will be fine.
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
Hi Wherediditgo, Im sure you'll be ok with that amount, i got my IVA passed only paying around 18p in the £,on a £35,000 debt. I had myself worried sick i wouldn't get approved but i did, as the other posters say your IP wouldn't put that amount forward if they thought it wouldn't get accepted. Stay strong, things do get easier.[:)]x
As long as your proposal is reasonable then you should not have any problem with offering 23p in the pound. There are very many IVAs which are accepted every day where the dividend to creditors is far lower. Good luck with your proposal.
