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.