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What is the lowest monthly payment that can be accepted into an iva on debts of 45000

Hello Becky,


The essence of an IVA proposal is that the debtor puts forward whatever they can afford in order to pay off their creditors. This means that the funds that need to be contributed into the IVA will vary on a case-by-case basis depending on what assets the individual has, and how much money they can afford to put towards their finances each month (i.e. monthly income minus monthly expenditure).

It is possible, however, to apply some rules as to what the minimum contributions need to be in order to present an acceptable proposal to the creditors. From experience it tends to be the case that an IVA will be rejected if the creditors get less than 20-30% of what they were originally owed.

Kind regards,





Julia Simavi

Shortlisted for Best UK Debt consultant by Credit Show 2007

View my profile:
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Hi Becky

To achieve the minimum dividend generally required by most creditors of 25p in the £, you would need to be making payments in the region of £285 per month.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk