How much l will have to pay monthly

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avy

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Post by avy » Mon Feb 18, 2008 9:49 am
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We have more than £40.000 unsecured debts to more than 10 creditors but also have £175.000 secured loans(£1.100)monthly payment for the secured loans only. How much l will have to pay monthly with the lVA? (Joint payment with my husband, both employed).
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Jo Rolland

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Post by Jo Rolland » Mon Feb 18, 2008 9:53 am
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Some creditors do require higher dividends than others so if you could post details of the creditors and the amounts, we could advise you further.
Jo Rolland
Debt Alternatives
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www.debtalternatives.co.uk
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Adam Davies

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Post by Adam Davies » Mon Feb 18, 2008 11:37 am
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Hi
You will have to pay in your joint disposible income if you both enter into an IVA.You would pay your secured debts and then allow for essential living costs,the monet left over would be your disposible income and paid into the IVA.
How much is your property worth ?
Regards
Andam Davies
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Cybus

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Post by Cybus » Mon Feb 18, 2008 8:31 pm
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What percentage of your household income goes out to pay mortgage /secured loans?
Tell it like it is.
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size5

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Post by size5 » Mon Feb 18, 2008 9:59 pm
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Excellent point, any more than 40% of net income going on secured credit is skating on really thin ice.
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