How can a IP not pay any of your creditors for a year Not had a yearly review for 2 years then sent a yearly review which shows that they have over 3000 pounds in cash in the bank which shows that they have not paid any creditors for over a year . Also got a statement from 2 creditors to show that the last payment was July 2017
It will say in your agreement or Chairman's report the frequency of payments as agreed by the creditors. often quarterly, 6 monthly or even annually, depending on the amounts involved. Also the initial payments ( again specified in the Report) go to the IP in settlement of Nominees Fees.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
The statements are a legal requirement Sheila, your IP not paying dividends other than annually should not bother you in the least. It is not your responsibility to chase this up nor get overly concerned with it. The fees pay your IP to do 'stuff' if he isn't doing it then it is the creditors who should be getting in contact with your IP not you to worry over it. Seriously, put it to the back of your mind.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
