Posted: Mon Jun 18, 2007 5:14 am
how is the pence in the pound return callculated during the iva period.
Hi krn and welcome to the forum
The dividend is calculated by taking the amount that you pay into the IVA over the five year period, less the costs of presenting and supervising the arrangement, which leaves a sum of money to distribute to your creditors. This sum is then divided equally amongst the creditors, with each one receiving the same percentage - or pence in the pound.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk