I am under the same impression as you; if claims go up the dividend goes down and if claims go down the dividend goes up.
Some proposals or modifications stipulate a minimum dividend to be achieved. Do your's?
Another reason may be that if claims increase by more than x% this is a breach and will need to be rectified by paying in additional monies. Again tho, this would be in your proposal or modifications.
Hopefully one of the professionals can give you a clearer idea.
Fingers crossed the goal posts don't move too much for you x
Cannot understand why it takes four years to agree a set of creditor claims. Does this mean that no money has yet been paid to your creditors? And did you guarantee the level of dividend payable?
My IVA was agreed 4 years ago. They have explained that based on current information the anticipated dividend to creditors will decrease to 29p in the pound. This is as a result in an increase in cerditor claims since the meeting of creditors.
They have reminded me that the minimum dividend to be achieved is 30p in the pound. As such they think there will be a shortfall of £246.
They've also stated that they are waiting for one creditor to submit their final claim for monies owed this could mean the duration of the agreement is increased. Can they do this? I cannot afford to pay anymore money each month? Cannot they not re-negotiate the terms with the creditors?
This is similar to another post where creditors claims have not been agreed after four years. Speak to your IP directly and ask to know why these creditors have not been excluded. I would also want to know what dividends have been paid out and what the IP has done in relation to dividends due to those creditors who have not claimed.
