IVA – typical amount to repay

the_bright_side

After speaking to an insolvency specialist today he said that my creditors would probably want 60p in the £1.

Is this a typical amount to repay back creditors?

Charco_2

That's a bit a r s e about face. Your creditors might want the moon on a stick but it doesn't work that way!

Sounds like your IP want a high return!

Don't think about the dividend, you just concentrate on your budget and how much you can afford to contribute every month. Make sure the figure is realistic coz you'll have to stick to it for five years (60 payments).

Although creditors obviously want a high return, I've never known them to demand 60p in the £. That would be a fantastic return from an insolvent debtor.

Get a second opinion!