Dividend

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Julian

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Post by Julian » Mon Mar 17, 2008 2:25 pm
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Using my dodgy maths, I have roughly calculated that my dividend to creditors will be about 46p in the pound after fees have been paid. I worked this out at total debt of £31,000. MOnthly proposed payment £368, fees of £8000. Bear in mind I have not yet had confirmation of fees etc from IP as still setting up proposal.

Does anyone think this potential dividend is reasonable with creditors, HSBC, MBNA,Halifax RBOS;Style,Egg;Tesco and Capital One. HSBC are my biggest creditor with £10,000 in total owed on a loan, overdraft and two credit cards.

Any input would be appreciated.

Wil update the forum as things progress, hopefully well.
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carlmcmullen

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Post by carlmcmullen » Mon Mar 17, 2008 2:33 pm
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I work out Julian that fees are going to be around £4,500 which means you would give creditors a return of about 56p in £ and given the list of creditors you should have a good chance of being accepted.

Good luck [:D]
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Julian

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Post by Julian » Mon Mar 17, 2008 2:39 pm
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Thanks Carl that is encouraging, still awaiting proposal and no date for creditor meeting yet, also I get an annual bonus and some reasonable overtime so would in all probability be paying back more than this allowing for 50% contribution to the IVA of OT and bonus.
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debbiw

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Post by debbiw » Mon Mar 17, 2008 2:53 pm
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Hi Julian, I agree with Carl, this is a good proposal. MBNA, Egg and Capital One voted yes at my meeting too.
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Shining

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Post by Shining » Mon Mar 17, 2008 4:27 pm
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I too think this a good proposal x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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emma_t

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Post by emma_t » Mon Mar 17, 2008 6:29 pm
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sounds good to me Julian, hope all continues to go well for you x
Be positive & look after yourself, there are more important things in life than debts....

Best Wishes

Emma x
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