What is the average payback per £ in an iva

jtn

Hi everyone this seems a relevant question,does anybody have any idea how much you pay back per £ in an iva agreement with your creditors

To_be_Free

It all depends on your disposable income but most of the big creditors seem to be looking for at least 40p in the £ before they will accept.

Not_so_wise_one

Mine was originally accepted at 24p in the pound, modified to 31p and by time I complete, they will have received over 50p in the pound due to bonus payments.

thecableguy12

yes it all depends on the creditors ie hsbc need min 40p but when i woeked in ivas the lowest div i did was 19p which is bloody good!

happychappy74

I set up an IVA through Payplan in 2006 which was for 25 pence in the pound. I have been able to make a full and final offer after 38 months through a third party, which has now been accepted, which caters for only 14 pence in the pound. The cheque has been sent off so I am just waiting for it to be drawn upon.

As you can imagine it has been a long process and I have spent hours and hours on the site looking for any information to guide me towards the full and final amount.

When the money has been taken and I have the confirmation letter for this then I will give a better update.:j:T:j:T:rotfl::T:beer:

doelani

Everyone is differnt, mmine was agreed at 53p in £ but they recieved 59p in £

thewad

It seems a little unfair that 2 people with the same debt may pay differing amounts based on the fact that one might be grafting hard to make it work and another just sits on his/her a*se all day.
The grafter has to pay 50p in the pound for the privilege of working hard whilst the lazy sod pays 25p and sits around all day watching tv. Or have I got this wrong??

John

happychappy74

Thewad.

Not sure about the 'lazy sod bit'.

My IVA was as a result of years of the Family Courts regarding my son, who I now havent seen for 3 years as I cannot afford to chase the ex any more. This was only owing to her flouting the Court Orders, which the court would then not enforce, instead chossing to issue a new order which she would then flout. The process would be repeated until money ran out.
So as you can see it is not all good.
Dont recall sitting watching tv all day as I work full time shifts.
Remember that any IVA is based upon debt / income / expenditure and any figures are based on that. So any money repaid reflects that. Now that may give you an indication of the hole that I was in!
People enter IVAs/Bankruptcy for different reasons, not just because of being workshy, carefree or plain useless with money and for that reason I do not judge others. It would only be civil to ask for the same courtesy.

Nuff said.

dog_food

thewad wrote: »

It seems a little unfair that 2 people with the same debt may pay differing amounts based on the fact that one might be grafting hard to make it work and another just sits on his/her a*se all day.
The grafter has to pay 50p in the pound for the privilege of working hard whilst the lazy sod pays 25p and sits around all day watching tv. Or have I got this wrong??

John

It must be frustrating and confusing to be one of those people who doesn't think before they speak...people come here for help and support, not for ignorant opinion.

happychappy74

Dog food.

Thanks. Means a lot.

:beer:

dog_food

happychappy74 wrote: »

Dog food.

Thanks. Means a lot.

:beer:

Pleasure! I am in a similar position to you and have my meeting on July 17th to see if my creditors will accept my full and final offer...i'm offering 20p in the pound and was really interested to read your story...thanks for sharing your experience...I have everything crossed, it's make or break time for me...