Hi Iv-techmanGoing from the figures you have provided above, the dividend would roughly be 18p/£ (for every pound you owe, the creditor would get 18p back) however this is not taking into account the IP fee's on the IVA. After fee's of say for example £1850 for nominee fee and £1500 for Supervisor fee it is possible that the overall dividend could be below 10p/£ which is a low dividend in the eyes of the creditors. What would work in your favour is if you were to have no disposable income to offer to your creditors as they would then see it as that is all that they would be able to get from you. If you did have a disposable income then the IVA proposal could be modified by your creditors which could mean that whatever disposable income you have must be contributed into the IVA for 5 years (unless modified by creditors)so to increase the overall dividend avaliable to creditors.No licensed IP will do an IVA without a fee due to the work that is put into drafting your proposal and also looking after the IVA after the acceptance meeting. I would advise that you speak to a debt helpline such as Debt Free Direct or National Debt help line who will provide you with free advice and will normally help you decide which is the best course of action. **Please bare in mind that I am training in debt advice and there may be many other options that are available to you**