25p in the pound, what does this mean?

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Mark.by

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Post by Mark.by » Fri Aug 27, 2010 10:09 am
I have read loads of blogs which make reference to offering 25p in the pound, 56p in the pound and the like.
What does this mean ?? Probably a really obvious question which I could guess at the answer, but I would rather know the truth.

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kallis3

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Post by kallis3 » Fri Aug 27, 2010 10:12 am
Hi,

It means that that is the return your creditors will get, so for every pound you owe them, they will receive 25p, 56p etc.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
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Andrew Graveson

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Post by Andrew Graveson » Fri Aug 27, 2010 10:45 am
Hello Mark.by,

As kallis3 mentions it's the return your creditors get.

It's worked out by subtracting the fees and costs of your IP from the contributions you have made to the IVA. The remaining funds will dsitributed amongst your creditors.
Andrew Graveson
Bright Oak Ltd
UK Debt Management Company
Website: www.brightoak.co.uk
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