Do you feel that you can afford the payments? An IVA is based on your disposable income after your living costs.
If your IVA hasn't been approved there is nothing to stop you taking a second or third opinion, and please don't agree to payments that you cannot afford.
Take a look at www.iva.com there you will find a list of companies and some reviews, take some free impartial advice from 2 or 3 companies.
is it worth shopping around for an insolvency practitioner as i have been quoted a monthly repayment of 177 to write off 14k of around 28k of debt. How do i know if this is a resonable amount
You cant select an IP on how much they claim they can get written off. If you have more disposable income in years 2,3,4,5 and possibly 6 then you pay back what you can afford.
I cant understand for the life of me why insolvency firms have to point out to potential customers how much their average write off is,it really is totally irrelevant.
Do talk to 2 or 3 companies but base your decision on who to work with on who you feel most comfortable with. Selection based on write off % WILL end in an IVA failing in my opinion.
I too am not a fan of quoting how much can be written off simply because nothing is forgiven unless and until the VA concludes. A lot can happen in 5 years. Take a 2nd or 3rd opinion, but ultimately the idea is to be fair and reasonable, so if that is a true figure for you then fair enough.
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