IVA: Minimum Creditor Dividend

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We often hear of people entering into an IVA, worried that it may not be accepted due to the low dividend on offer.

Well, you might take comfort learning of a recent success a private IVA provider had in getting an IVA accepted at the grand total of one half penny in the pound dividend.

(Is that a record? Makes my 34p in the £ look positively generous).

The facts of the case were quite unusual, in that the debts were over £25m (a property developer), and it was a lump sum full and final offer where funds were available immediately.


Is it is a sign of the times that lenders are having to get far more flexible in their approach to customers?

Nice to see the system helping out another average Joe!!! Just goes to show that wealth and debt is all relative whether you are on state benefits or a millionaire.

Happy New Year to you all!!!
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Comments

  • Anondebtadvisor
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    Thats amazing! Good result.

    It just goes to show that as long as the offer is the debtor's best offer it is in the creditors interest to accept :-)
  • Depth_Charge
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    We often hear of people entering into an IVA, worried that it may not be accepted due to the low dividend on offer.

    Well, you might take comfort learning of a recent success a private IVA provider had in getting an IVA accepted at the grand total of one half penny in the pound dividend.

    (Is that a record? Makes my 34p in the £ look positively generous).

    The facts of the case were quite unusual, in that the debts were over £25m (a property developer), and it was a lump sum full and final offer where funds were available immediately.

    Is it is a sign of the times that lenders are having to get far more flexible in their approach to customers?

    Nice to see the system helping out another average Joe!!! Just goes to show that wealth and debt is all relative whether you are on state benefits or a millionaire.

    Happy New Year to you all!!!
    </SPAN>

    Hi

    Yes, I think I have read about that one, the debt was a little high I think and perhaps not the average Joe, whoever he might be.

    And it would appear, no rehabilitation here then?:)

    But seriously it does show that an IVA can be successful and coming from a stable with a good track record to be fair (in my opinion)

    Its not gonna change much though as far as the IVA big picture stands at the moment Im afraid.

    Just my take
  • FiatFan_2
    FiatFan_2 Posts: 269 Forumite
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    (Is that a record? Makes my 34p in the £ look positively generous).

    oof been and checked our agreement, we're paying 22p in the £ Fair bit of a difference in return
    Roll on DFD, final payment 1st October 2017 :beer:
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