an iva for 100 pounds a month ?

[tanya.c]

I was just wondering weather i would be able to do an iva for £100 a month

[rayb]

I think the minimum you would be looking at is around £200 - £300 a month. What are your debts and your situation?

[MelanieGiles]

Probably not - as the costs would probably outweigh the benefits for creditors. With such a low disposable income, are you not better off considering bankruptcy?

[size5]

Again, the answer to your question cannot be given without more information.
For example, if the reason you can only afford £100 now is that you have a car on finance that ends in, say 12 months, then it may be feasible to look at that with an increased contribution later when the HP has finished.
You really need to take professional advice on your own situation.

Thanks.

[Oliver]

Size5 makes a valid point about so called "slow start" IVAs where the overall contribution is topped up by further monies over the course of the agreement such as the reapportioning of a car HP or an equity release.

However, as the other experts have rightly pointed out it is unlikely to be viable to propose an IVA based on a DI of £100 per month as the costs of doing so would make this an unattractive proposition for your creditors.