Good afternoon,
My IVA was with Money, Debt and Credit (MD&C), it was all finished in August 2013 and I received my completion certificate, I was so pleased it was all over, I have even started seeing my credit rating improve!! I then received a letter from Grant Thornton, saying my IVA had been taken over by them; I called them and explained my IVA was all finished with and they apologised and said they would take me off of their records. I then received a letter from Grant Thornton saying that I had a PPI claim outstanding and that my IVA would have to be opened up again for up to 12 months whilst they persuaded it. I called them and said I didn't want to go ahead with the PPI claim and explained that MD&C had asked me too contact the bank during my IVA and my bank had replied saying I couldn't go through with the PPI claim as I had an IVA, (I still have the letter I received back from the bank) I contacted MD&C at the time and told them this. When I spoke to someone at Grant Thornton, they said my IVA would not be officially closed down until the PPI claim had been resolved and my IVA would still show on the insolvency register unless the PPI claim is resolved. Can anyone please advise if I do have a choice whether to pursue the PPI claim or not, I have after all already got my completion certificate and as far as I was concerned this horrible experience was behind me. I don’t care if I am due some money from the PPI claim, I don’t want it, I just want my IVA to be over as thought it was and my credit score to continue getting better.
Thank you
Hi
Are you 100% sure it is a CC you have? They reason I ask is I too was with MD&C, final payment feb 2013. GT took over MD&C in July. I don't have a CC from anyone & when I questioned GT as to why they said MD&C weren't dealing with IVAs anymore & weren't closing the cases they had either as they had been sold on. Not sure where you stand if it is your CC, or why you got it from MD&C after GT took over, but would have thought if it is genuinely closed, then there's not a lot they can do?? Just my opinion tho [:)]
You could not make this stuff up! If you have your Completion certificate then the CONTRACT you had with your creditors is over, done, closed. GT have not got the authority or remit to reopen your IVA, they could (unless tested with a trip to court) ask you to submit to making them executors to claim back any PPI, however I doubt they have any legal president to MAKE you sign anything if your IVA is over and you are holding your CC.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
The year has gone passed so quick, my completion certificate was issued in August 2012, not 2013, so that is why it was issued by MD&C, so i have been freed of it for over one year!! It is definatley my completion certificate i have received and even the letter from the bank states that the IVA is complete. GT said that if i don't go through with the PPI claim that the IVA will not be taken off of the insolvency register, can anyone confirm if this is true.
Thanks all.
Hi Emma2 - have you checked the insolvency register? Your name should have dropped off in the 3 months after receiving your completion certificate.
If it suddenly appears on there again I think I would complain to the ombudsman. I cannot believe they are re-opening cases and resetting the insolvency register marking?
This is going to end up with more people choosing bankruptcy with a strong possibility that creditors get less money overall.
Thanks Kazza, i have checked the insolvency register and my name is still showing on there. I have emailed them to ask them why as it has been over a year since the date of completion.
Are you 100% sure you received a completion letter?
It's just quite a few MD&C people who posted on here never received theirs.
I'm afraid if you haven't then they have you 'by the balls'. It has been a nightmare for IP's and their clients but I am afraid some companies are making it harder than others (in my opinion).
It's defiantly the completion certificate and a covering letter, in which it states....."the terms of the IVA have been satisfied and a certificate of completion is enclosed." It does also state though..."please note that the administration of the IVA will remain open pending a potential VAT refund from HMRC, which if paid may result in a further dividend to creditors". But surely this should have all be sorted a year on, do you think it's worth contacting HMRC?
