Once we reach a point where creditor involvement / creditor reporting is required, e.g. when we send out an IVA proposal to creditors, we set up a creditor portal for each case. The creditor portal area will be exactly the same for all creditors and creditors will only be able to see certain information which they are entitled to see on that particular case.
Information held in the creditor portal will include all reports and correspondence which we are obliged to circulate in accordance with statute and best practice. The creditor portal has a function to allow the uploading of claim forms and proxies for voting at any meetings being held.
So that creditors can be comfortable that the case is being progressed in a correct manner and that full transparency is being provided, creditors are able to review exactly where each case is up to at any given point through logging into the portal and viewing and/or downloading reports which are generated from a link up with our case management system, in real time.
Creditors are then easily able to identify what contributions/payments have been made by the client/debtor, whether payments are up to date, whether or not they have submitted a claim and also review dividend payments which have been processed.