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IVA Pay - How much do I pay with IVA?


I understand my debt will be reduced but can't work out how I will pay with an IVA.

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IVA Pay - How much do I pay in an IVA?

There is a great deal of confusion over how much you’ll need to pay back if your IVA is accepted.

Many TV and Press ads have claimed debt write offs of 90% but the reality is nearer 60%. The latest statistics released by the CCCS showed the average write off to be 58% on an average debt of £60,000. This leaves £25,000 as the average amount to be repaid over 5 years. This is an average repayment of £417 per month. Usually the minimum monthly repayment you’ll need to be able to afford is £200, after all essential spending has been budgeted for.

If you want to find a popular and trusted company that can help you arrange an IVA visit our Debt Organisations page. If you need help choosing, complete the form and we'll recommend one for you.

 

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