IVA Success Rates
Analysis of the success rates of IVAs supervised by Purnells
During our first meetings with clients, we are often asked whether we can give them some form of indication if their IVA will be successful. Unfortunately, it is very hard to predict those sorts of things. However, following a recent review of our IVA cases we determined that:
- Of all IVAs that Purnells deal with, 73% end successfully, with the Debtor completng their obligations.
- Of that number, 62.5% were approved at the first meeting of creditors.
- The balance of 37.5% were approved because Purnells adjourned the creditors meeting and negotiated with the creditors and debtor to get the IVA Approved. Unlike some other firms Purnells will not simply give up because the proposal was rejected at the first meeting.
- Finally, from those that successfully completed, an average dividend of 42 pence in the pound was paid.
Should you wish to discuss an IVA with Purnells, please do not hesitate to contact us on 01326 340579 to speak to any one of our 3 Licensed Insolvency Practitioners.