www.iva.co.uk

Evening all, I am nearly there with the paperwork for my IVA with Payplan. Got my offer of repayment through the post today and it's 30% payback on 41k. Is this a reasonable offer. Fees seem high (nearly 7k) but i didn't know what to expect anyway.
Don't really know what my question is, just a bit of hopeful reassurance that i might see an end to the credit card nightmare of the last few years....time to take a deep breath, hope i haven't missed anything on the expenditure list, sign the papers and send them off and wait me thinks

We went in with 31p in the pound, but the creditors jiggled dfd fees and it went through with 37p.

Sounds like a good offer to me and Payplan would not put it forward if they did not think it had a good chance of being accepted.

Mine is 27p and hubbys 18p together 45p hope it goes through So worried x

Don't worry - it wouldn't be proposed if your IP wasn't confident about acceptance.

Mine was 39p at proposal level and after the creditors had limited certain fees and submitted balances that were less than some on the proposal it went up to an estimated 43p. Its all subjective to your own circumstance. If you can only truly afford to repay a certain dividend then that's all you can offer. Good Luck.

The dividend seems OK - and if the fees are too high, our friendly creditors are sure to knock them in their usual fashion.

Mine has just been accepted at 27p. But as others have said, its all subjective and I'm sure your I.P has put forward the very best proposal for you. Wishing you all the best.
x

27.54p in £1 includes fees of £5,978 on 88k debt

thanks for replies and the kind messages. I've put off signing until my day off tomorrow. Putting the envelope in the post box is gonna be a great relief whatever the outcome
(having at least sorted out where i stand financially and having let all creditors know what a mess i'm in instead of just leaving letters unopened and burying the proverbial head in the sand!)
and its also gonna be a very anxious waiting game.......

I had 24p in the pound with no real issues using Melanie Giles' help.
Remember it's based on your 'actual' outgoings and what you can realistically afford so if that is what you have stated you will probably be okay.
If it looks like you won't be able to live reasonably on what expenses you have stated then the IVA might be at risk of failing it's in nobody's interests!

Papers signed and posted back to Payplan....Any idea how long it now takes to get the dreaded creditors meeting???

It will usually be within the next two or three weeks. Once they get the proposal back it will be all systems go.

All the best as Jan says it shouldn't be long now and your IP will be confident the best offer is on the table. x

yes it should be on justabank in a few days mine was about 5 days after saying it was in 2 weeks!! Good luck mine is wed