i am confused

[foxy007]

Hi do we qualify for an iva my wife works i am on disabilty beniftit and do not work. We are in £15000.00 of debt i have been told by other debt companys that it would cost us £150.00 a month for an iva at the moment. We are on a debt management plan with payplan they have said it would cost us £300.00 a month i am confused who is right

[MelanieGiles]

Hi there foxy and welcome to the forum

I cannot see how Payplan can suggest that your offer an IVA to creditors at £300 per month, when you only owe £15,000. This would mean a full repayment to creditors, thereby negating the need for an IVA in the first place.

In order for anyone to work out what you can afford to offer, they need to do a detailed appraisal of your situation, and work out how much disposable income you actually have - and not just pluck figures out of the air.

How much do you feel you could reasonably afford to repay each month?

[ianmillington]

Absolutely right. There is no hard and fast minimum - it's what you can realistically afford. Only when that is known can an appropriate solution be suggested.

ian