Hi all, hubby has received his annual report today and we are slightly confused.
His iva started in nov 2011' so just going into the 4th year his review due date was 14th. He has not heard anything from CF only the original letter from PJG anyway the report states that due to the increased level of creditors claims the dividend has reduced due to a reduction in contributions and/or increased in disbursements and they anticipate that creditors will only receive a total of dividend of 36.34p in the £ compared to 38p as estimated in the approved arrangement.
His contributions have increased each year his is now paying double than when he first started,
I don't know what the increase in disbursements would be or why there is an increase in creditors claim.
Also in the total dividends paid to date is states 0.
The supervisors fees have also increased from £658 last year to £2417.00 it's also states that those fees have been approved
Is this correct? Has anyone else had one?
I had the same report posted to me yesterday. We've paid up our five years now so keep chasing thembut no final review paperwork yet. Our report also said that our dividend was now zero pence even though we've paid around 65p. I phoned them straight up. Apparently, the files they have are corrupt so there have been a number of errors on reports sent out. She said they've had lots of problems with the transfers from PJG but they are hoping to get it sorted soon.
This "clash of systems" seems to happen everytime there are bulk transfers. In the modern age of computerised accounting there are many, seemingly, incompatible systems.
Quill pen and paper never had this problem !!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
As you are all aware Melanie is not only a good friend of mine but also taught me so much when we worked together. There is no way her files are anything other than perfect so if there are problems I doubt if they are of her making.
Having worked on data migration and on change control for a blue chip company, I know that moving files often results in errors, so "corrupt files" isn't in the least bit surprising. A space here, a dot there.... it would be amazing if it DIDNT have a problem. One system took a couple of years of work before it was finally moved due to the need to ensure sensitive data were kept.
I doubt that any errors with our figures are of Mel's team's doing. Our figures matched perfectly just two months ago when I checked with Gill. However, I hope any problems they are having migrating systems doesn't drag on and on.
