However it also depends on what you initially agreed when going into the iva as that will always be the baseline.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Depending on your circumstances if you can't afford that then an IVA may not be the best option for you. You might want to consider a Debt Relief Order if you fit the criteria.
£70 seems now to be an acceptable starting point, however, in certain circumstances there is no reason why it could not be less, for example if a hire purchase were coming to an end shortly, or rent or mortgage arrears were coming to an end. The payments may therefore start lower, and be "stepped up" as your affordability increases.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
Hi and welcome. If you're looking at setting up an IVA, I'm sure your chosen company will go through your Income and Expenditure to ensure it's set at an affordable rate.
As Mike says, it can change when your circumstance changes.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
