Beware IVA advice from stepchange

DorisTrousers

The OP went bankrupt, not IVA.

The key to IVA providers is to speak to as many as you can. If you do choose an IVA then remember you will be with them for 5 years, or longer, so a good working relationship is essential. Do not be surprised if the monthly payment needed to look at an IVA varies a little between firms, as some have minimum contribution levels that are needed to make a proposal viable.

As a rule of thumb, picking the lowest monthly repayment offered to you as your choice makes sense as a strategy, on the basis that the less you pay out the better for your own budget, but, as I say, you must make your own choice on that after having spoken to as many providers as you can.