www.iva.co.uk

what is the minimum monthly amount you can pay when entering into an IVA

Most of the advertising says £200, but ours was accepted at £180 per month with a return to creditors of 11p/£ it depends how much disposable income you have and what the return to creditors will be, the creditors ultimatly decide whether the amount you have disposable is enough as they will reject if they are not getting a good enough return

I pay £100 a month at present but my debt is relatively low at £10k

Hi Angela.bd - welcome to the forum. The amount you pay depends on your disposable income. There could be two clients each having £50,000 of debt but one pays £200 per month and one pays £400. As long as your budget has been set correctly and it covers all your living costs fairly, whatever is left over is for the creditors and should not leave you struggling.

Have you had your income and expenditure calculated with a professional yet to give you a better picture?

Regards,

As Tina says it depends on your disposable income. No two IVA's are the same. They are unique to your own circumstances and they need to reflect your actual spends on key living needs - the balance will then form your disposable income! Don't worry what others pay back - ensure your expenditure truely reflects your needs and I am sure your insolvency office will support you in getting the right proposal written for you.