Looking Forward

[OPTIMIST12]

As I understand things, IVAs have only really "taken off" - number wise - over the past few years. It is therefore inevitable that there is going to be a lack of success stories at this time (F + Fs excepted). The majority of accounts at the moment will relate to IVAs that have sadly failed or hit trouble.

It is important to people either in (me included!!!) - or considering - an IVA to know that there are people coming out the other side at the end of the 60 months. Would it be possible for the experts on the forum to estimate roughly when (month / year wise) we will start to see a high volume of "60 monthers" successfully completing their IVAs. Or has this already started? This really will be such a boost to people starting or going through their arrangements to know that there is a constant stream of successful completions coming through at the end of the 60 months.

[Adam Davies]

Hi
Well there were 7500 IVAs in 2003 so in theory a large part of those should be concluding next year,I think a conservative estimate is that about 30% of IVAs fail,some conclude early so I would guess that about 4000 people will be celebrating a successful ending to their IVA in 2008
Regards


Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[OPTIMIST12]

Thanks for that Andy.

Is the 30% failure figure drawn from any published statistics, do you know? I suppose the only people who could give a definitive number of successsful completions would be either the Insolvency Service or the Court Service. I would not expect individual companies to publish figureas as this presumably commercially sensitive.

Still - whatever happens - I hope that the figure of 70% who do complete successfully is going to increase as time passes.