Hi, have been in IVA for 11 months now and struggling with payments. If a guaranteed dividend is not mentioned in the chairman's report does that mean it cannot be imposed?
I think this is one for your own IP. If you are struggling though, they should be told. You would be asked to fill in a new I&E. They would be able to reduce your payments by 15% without having to call a creditors meeting.
Hi Jazz, is there a particular reason you're struggling as one part of your expenditure increased since acceptance.
AS you're 11 months in now it'll be time for your annual review and hopefully this problem can be solved, as Lisa say contact your IP and explain your situation.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
If there is not guaranteed minimum dividend, then your IVA should conclude at the 60 month point based on the right number of contributions being paid. But it is definately better to check the terms of your actual agreement directly with your IP to ensure that you are on track for a successful completion.
