Page 1 of 1
Monthly payments
Posted: Mon Oct 30, 2017 3:40 pm
by wilson123
What is the lowest iva monthly payments could be. Thanks
Re: Monthly payments
Posted: Mon Oct 30, 2017 4:02 pm
by Lisa Thomas
There no set minimum but only what becomes practically worth it to cover the costs and administration involved and still be able to pay creditors something back.
A figure of c£70 has been banded about before.
It is based on what you can afford.
Re: Monthly payments
Posted: Mon Oct 30, 2017 4:08 pm
by wilson123
How often are ivas rejected. Thanks
Re: Monthly payments
Posted: Mon Oct 30, 2017 4:14 pm
by Foggy
wilson123 wrote:How often are ivas rejected. Thanks
They are rarely rejected these days as long as they are sensible proposals. A lot will also depend on the make up of your creditors, most are accepting of good offers, some are not.
Re: Monthly payments
Posted: Mon Oct 30, 2017 4:48 pm
by Lisa Thomas
I don't have stats as rejections are not formally recorded, only failures are.
If your Nominee does not think the proposals should be recommended they will not let you present it to creditors.