Mr M from Suffolk was attempting to pay £800 per month in respect of debts totalling £31,000. As a result of a successful IVA proposal this was reduced to £350 per month for 5 years and creditors received a dividend of 34 pence in the pound.
Mr and Mrs S from Tyneside had liabilities of £93,000. Their IVA proposal allowed them to repay £430 per month for 5 years and then release equity in their matrimonial home. Creditors received a return of 27 pence in the pound.
Miss G from Yorkshire had total debts of approximately £158,000. Creditors accepted her family’s offer to make a lump sum payment of £37,500 in full and final settlement of her debts. Creditors were paid a dividend of 17 pence in the pound.
Mr M from Lancashire had 10 creditors with debts totalling £52,000. His IVA allowed him time to sell his property on the open market and avoid bankruptcy. He paid £34,000 to his IVA and creditors received a dividend of 45 pence in the pound. |