IVA amount re-payable

herchunison@yahoo.co.uk · Joined: 01 May 2008 Posts: 1

Lots of adverts state you can have 60% wiped of your debt. On average how much in percentage terms do you have to payback. I have 60K of debt and 450 a month left to payan iva, does that sound enough???

Or is it worth considering bancrupcy. I have heard from a barrister that under the enterprise act that aq lender caqn chase you for any assets eg house for upto 25 years, is this advbice right.

Thanks Richard

Holly · Posted: Tue May 06, 2008 11:36 am Post subject:

Richard,

i have seen a few of the adverts you may be referring to and elthough in a few cases, people can potentially have a large chunk of there debt 'written off', this isn't the case for a lot of people. It all comes down to personal circumstances and affordability.

if £450 per month is all that you could afford with £60,000 debt then we could look at doing something but we would need some additional information before we could confirm whether an IVA is right for you.

If you require any additional information about your situation and the pros and cons of an IVA and Bankruptcy with assets then please do not hesitate to contact ClearDebt via telephone, or via the website.

Hope this helps Richard!!

Holly