I am 16 months in to my IVA. My debts were £9k and I pay £120 a month.
I’m looking to move forward with things and start saving for a house etc and I understand whilst on an IVA you cannot save as any spare income is to go towards this.
So 44 x 120 = £5,280. Do you think an offer of £4,000 is sufficient enough? My brother would be able to offer this.
Thanks in advance.
Podyak wrote:Thanks for your responses.
So would I offer this and then any following payments I make to the IVA whilst the offer is going through the stages come off this total?
So for example I offer £4000 but it takes 4 months to be accepted. 4x120 = 480 so the payment is £3520?
Yes, but do make this clear in your offer. At least one firm states (incorrectly) that this is not acceptable -- coincidentally they are one that takes a lot longer to arrange these things too.
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