The last payment of my IVA was August & Grant Thornton are now delaying completion.I had 2 children close together and reduced my work to PT but my partner made the payments for me. I was told that I would receive my completion cert within 3 months of my last payment and did not so I called in November and they said it would take 6 not 3 months. Now my work location is changing so I have to have a financial check done and this will show the IVA and will cause problems and the fact my wage only covers nursery fees my partner and myself decided I would take voluntary severance pay which has now been offered. If I take this I need to apply for it by the end of January so I called Grant Thornton again last Friday and have been advised that it will likely now be April before they complete my IVA. They sent a letter for me to include with my financial check and advised if I take the severance pay despite only £5,000 being knocked off my original debt that the creditors will want the full £15,000 I would receive. I don't mind paying back the £5,000 but to take every penny at the end of a successful IVA when I never missed a payment and was never late with one seems very unfair. We struggled to keep up with payments and my job is not suitable for me anymore due to them changing my working hours to those which are out of nursery opening hours, and they are expecting me to do work I can not do easily with a disability. I do a specialist job so the ideal is whilst the economy recovers and people start employing people again, that I stay at home with my children until they reach school age. Is it right that they are taking so long to finalize the IVA and that they can take all of the VS payment from me? There is no way I can leave the job without the money. They said that until I receive the completion certificate the money would fall under the 'windfall' clause but the money would be received in February which will be 5 years and 6 months since I started the IVA.
I don't think that it is right for your IP to claim a windfall once you have complied with all of your obligations into the IVA. This has now largely been confirmed by our regulatory bodies - and most definatly this should be the case if the delay in closure is on the part of your IP.
I would escalate your query further up the food chain within GT, and speak to your Supervisor directly if you still don't agree with their decision.
Mel, another poster had confirmation from GT, within the past few weeks, that the debtor is fully obligated regarding windfalls and the like until that certificate is issued.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
surely this is not a windfall in as much as redundancy after all the poster will no longer be working and will need money to live on, dont they allow you to keep 6 months of any redundancy pay?
Hi Samantha. Welcome to the forum. If I were you, I'd act on Mel's advice ASAP - stand your ground and fight it all the way. They may well be saying your IVA's still open, but that's their fault not yours. Legally they may be right, but morally and ethically - it is reprehensible. I really wish you and others in this position the very best.
x
IVA journey started: 30th March 2009. Settled: 17th July 2012. Completion Certificate received: 13th March 2013. Breathe. x
This type of situation really worries me because with them taking such a long time to complete surely this is like leaving the door open to any future monies you may receive during end of IVa and GT's quite lengthy closure process. How are people supposed to start afresh when this type of situation happens. this is hardly the fault of the person in the agreement...
Oh dear. The ridiculous GT saga continues. Isn't it enough that people stick to their arrangements, cutting down on everything, doing their best to do the right thing by not only their family but to their creditors as well; for an adminstratively diabolical, long-winded, bureaucratic bunch to continue their crusade against people WHO JUST WANT TO MOVE ON WITH LIFE. Words fail me.
Completed IVA - August 2012 pheeeeeeeeeew
Only my opinion - Nothing More Nothing Less
This is appalling and truly shocking. Surely this can be challenged in some form with GT and if not with the respective regulatory body as it is money you need and it is GT's fault your IVA is still open.
1st payment Oct 2008, last payment Dec 2013. Certificate received March 2015 due to PPI claim.
Well upon opening my letter from GT this morning thanking me blah blah,,they also supplied me with a survey on how did they do whilst in my iva,,,now do i go down the polite route and say they did ok,,or do i tell them the truth on how much stress they caused with not returning calls etc,,,or maybe they should take a peek at this forum, then they would know how they are doing
Good old GT gets better by the minute. They just cannot get it right, treat and speak to people like dirt.
HOW MUCH LONGER WILL THEY GET AWAY WITH IT ?
This is unbelievably bad. Having tried so hard for five years, doing without-in my case new glasses, dental treatment, household repairs etc they then turn around and try to take money that's morally yours. Fight it!!
Thank you for your responses, I will fight it with them but they were adamant when I spoke to them. It just seems so unfair, I have paid everything I am obliged to and I simply want to quit a job that is making me unhappy and get the severance pay I deserve having been there 10 years and move on with my life. It's not ideal having 2 such young children doing my job so its best I leave the job and stay home with them. My other half has no debt at all and I already had the IVA when we moved in together so I can not just leave work with no contribution to our finances when he has pretty much supported us this last few years and made my IVA payments whilst I was on 2 lots of maternity leave.
I hope that Karol sees this post tomorrow and tries to contact you to discuss this specifically. If you would like me to bring it to the attention of the Operations Manager at GT, who I know very well, then please contact me off-line.
