is there a minimum amount in the monthly repayment

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ronalddp

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Post by ronalddp » Mon Sep 08, 2008 11:08 am
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is there a minimum amount in the monthly repayments that you can make
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Viki.W

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Post by Viki.W » Mon Sep 08, 2008 11:18 am
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Hey ronalddp, welcome to the forum. Each case is different and it really depends on how much disposable income you have because that is what your repayment will be. I do know that some companies will not take cases on that are lower than £200-£250 but others do. If you want to post a few more details we can try and help further. X
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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ianmillington

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Post by ianmillington » Mon Sep 08, 2008 12:25 pm
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There is no legal minimum but unless you have a disposable income of at least £180-£200 an IP will have some difficulty in making a good IVA for you. Even then, it's not that simple. All your circumstances need to be taken into account. It's very true to say that those cases where the contributions are at the lower end of the scale can be quite vulnerable to interest rate rises/utility bill increases etc.

Speak to an IP firm about your situation as no 2 people are identical and the same applies to an IVA proposal, which will be specific to you and should take into account all your individual circumstances.

Ian
Ian Millington
Insolvency Director
PDHL Ltd (formerly Personal Debt Helpline Ltd)
www.pdhl.co.uk
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