What does "expected dividend of 37p in the £" mean exactly? If we do not reach this what happens then? Our Chairman's report just says epected, but doesn't say what happens if we don't reach it? Any help please?
If you make all payments as agreed they expect you will hit this figure. It is not a minimum dividend. If your pay increases for any reason or you have overtime and things like PPI refunds the dividend might well exceed this figure. If you don't reach it but have complied with the terms of the IVA then the IVA will conclude with a lower dividend.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014