A little confused about my annual report!

[artemischild]

Hay all

im looking to gain a little more understanding about what my 'annual report to creditors' actually means, sorry to sound a little dim, im actually quite an intelligent guy........unless it comes down to numbers and colums lol! So i wondered if anyone would mind explaining it to me??

Im happy to type it out below!

love and light
Arty
)O(

[Adam Davies]

Hi
It will basically show creditors what payments you have made, the creditors that have confirmed debts and if any dividend will be paid.
Regards

[artemischild]

Thanks Andy

can i ask, what does this mean??

"The proposal estimated a dividend of 49 pence in the pound, Based on current information the dividend will be higher than this estimate"

many thanks
Arty
)O(

[Skippy]

I think it means that your original IVA proposal said that you would return 49p in the pound to creditors, but your payments to date mean that you will return more.

[Adam Davies]

Hi
This could be because you are paying more into the IVA or the confirmed debts have been lower than expected. It could also be due to IP fees having been capped at the creditor meetimg stage
Regards