How much will my monthly IVA payment be?
How much will my monthly IVA payment be?
This depends entirely on your circumstances which will be assessed by your Licensed Insolvency Practitioner (IP), who will be appointed to look after your IVA and ensure you comply with it.
You will need to provide proof of your income and give details of your monthly living expenses. Based on this information your IP will arrive at an affordable figure that you will have to pay each month. This will be gathered in a dedicated bank account overseen by your IP and used to pay off your creditors.
As a general guide you should have at least £200 available every month for your IVA to go ahead.
You will need to provide proof of your income and give details of your monthly living expenses. Based on this information your IP will arrive at an affordable figure that you will have to pay each month. This will be gathered in a dedicated bank account overseen by your IP and used to pay off your creditors.
As a general guide you should have at least £200 available every month for your IVA to go ahead.
If you found this answer helpful you may also want to look at the following: