www.iva.co.uk

I have been advised by my IP that on debts of over £30,000 they suggest that I should offer pay £130.00 per month (which is what I can afford). Has anyone else been able to pay this figure on such a high debt. I am sure my IP (payplan) knows the score but I dont want my Iva to fail!

If that is what they have advised they must be confident of success. I personally think that low contributions based IVAs have a much higher chance of failure, due to sensitivity within household budgeting, but I know other IPs who swear by them - and therefore must see successes as well as failures.

Good luck and let us know how you get on.

Melanie statistics prove differently - most lower contribution IVA's have more chance of success.

In any event it is not the amout of the contribution that is the measure - it is based on affordability, achievability and whether it is in the best interest of the debtor.

Who is your IP Sherry?

Hi Sherry. I am with payplan with debts in the region of 24k and mine was approved last month with payment of £115 per month - 17p/£. Hope this helps.

Helen

Thanks everyone, especially Helen as you were probably thinking the same thing before your proposal went in.

Hi
is that true David ?
Surely lower contribution IVAs have little or no room for any reduction if costs increase or wages decrease ?, making them vulnerable for failure
Regards

David - please provide me with details of the statistics you are referring to. This is not what the major creditor voting agencies are telling me, so I would be very keen to explore those numbers.