www.iva.co.uk

Hi

Can anyone tell me how the dividend is worked out, say on a total debt of 55K what would the dividend be if the monthly payments were £380.00

thanks

Tricky to answer really, and Melanie has already answered this on a previous thread, but assuming a single IVA, with no equity release and no increase over the 5 years, then 60 times 380 equals 22800. Assuming 5000 for costs leaves 17800, then the dividend is 32.36%

Hope this helps.

Regards.

isnt it all confusing?
or am i having another blonde moment?

thanks it does help, was just wondering if i have any chance of iva being accepted on that dividend

Yes, but each case is different and deserves to be treated on its own merits. A 25p dividend has no more and no less chance of being accepted, in theory at least, as a 50p dividend, as long as it can be seen that everything reasonable is being done to ensure the success of that particular proposal.

Regards.

32p in the £ is the national average - so you ought to have a good chance if you follow that option. Do make sure that you fully explore all options though, as there might be other choices which suit your circumstances better.