Hi. I have just completed my 5 year IVA and have no stopped making payments, i rung my IVA up who are grant thornton and they said i will be going through the closure procedure.
They have now informed me that i need to complete a review for the last year of my IVA and requested my payslips which i have sent and they are now saying that i owe them monies in additional payments.
In october 2011 i asked them if i needed to up my payments as i was earning a little bit more and they said that i should just carry on as normal, but now apparently i owe them money.
I have never missed a payment on my IVA overpaid by £100 a month on my 2nd year and still after i have completed and stopped paying them, they want more money.
I guess you need to ask GT for a full breakdown of your payments and where they are saying that you owe monies from, only then can you establish if you have fulfilled the IVA conditions and paid across the extra that needed to be paid.
Steveh197932 - As Supervisor of your IVA we are obligated to complete a final income and expenditure review to understand if you have earned any bonus, overtime etc.
Please contact the Customer Service team on 0844 855 2166 and we will be able to clarify any concerns that you have.
Kind Regards
Karol
Steveh197932
Exactly the same has happened to me, although i completed my final review no monies were required but they still want more as i have now been made redundant 3 months after my final repayment in May.
Don't expect a quick resolution either it's at least 6 months to close your IVA.
I'm not that concerned about paying additional payments if there due, i'm kind of expecting it. My only concern is that my wage slips if you saw them are broken down into lots of different payments and i'm worried that these different payment breakdowns are misinterrpruted as overtime and i'll be expected to pay monies that i simply have not had. I have spoke to GT about them and explained how my wages work, but i'm worried there not going to be fully understood as my payment methods are ancient. I'm probably worrying over very little, but after 5 years of this financial torture, which is my own fault i know, i thought i'd finally had closure in june when i made my final payment and now it seems to have come back to haunt me again and the stress and anxienty that i thought had gone is creeping back again.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Grant Thornton
Steveh197932 - As Supervisor of your IVA we are obligated to complete a final income and expenditure review to understand if you have earned any bonus, overtime etc.
Please contact the Customer Service team on 0844 855 2166 and we will be able to clarify any concerns that you have.
Kind Regards
Karol
I completed payments on my IVA with GT back in april/may 2012 and told twice my case had been moved to closure only to find in november that it had been 'overlooked' and so added for closure at the start of nov. All I get from grant thornton is ther run around, calling them endlessly with no joy and no end in sight. I wouldnt touch them with a barge pole as they are doing the same to a close friend who finished his payments some 4 months before me!! we are both reporting the matter to the financial ombudsman service. BEWARE OF GRANT THORNTON
Copies of payslips ought to be requested at each annual review, including the final one, as Karol has righly pointed out to check whether any additioanl monies have been earned during the past year which would need to be paid into the IVA prior to completion. The final year is no exception to this process.
Could Grant Thornton please explain to me why my supervisory charges jump from £6,188.00 as stated on original proposal document (I will gladly send you a copy should you require it) to a staggering £18,170.00 ?
This is their reply,
I can advise with regards to fees calculated that when you transferred to Grant Thornton from Blair Endersby, you agreed to our transfer terms and conditions. Part of the terms was Grant Thornton's fees would be 25% of asset realisation's within the arrangement. This was accepted by way of variation by your creditors and therefore when calculating the 100p/£ value, the fees needed are as stated to you.
No Foggy, I like thousands of others realistically was just sent a letter from Blar Endersby telling us the change was taking place.
I again probably like most others was NOT given an option to disagree.
You had no option to appeal the 25% fees, but in my case everything was going great and there was no reason to feel this was extreme. You could opt out of your IVA being varied to make it within the guide lines of 'protocol' but again not knowing the in's and out's of what my IVA was written initially and the protocol being the better result was an alien concept that was shrouded in legalese and contract english in the small print. I can read but have a short attention span when the words just blur into blah, blah, blah...
I think even the creditors were just shoehorned into the change over as challenging it would possibly cause failure of loads of BE customer's IVA's and there loss of a resolution to our debts with them.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
If an IVA is to be varied in any shape or format it does require the agreement of the debtor as well as creditors. However I do wonder what would have happened to your case if you had witheld agreement.
This matter is of particular importance when dividends of 100p in the £ are payable, given that you are directly funding the IP fees.
