So all, they have done it again, why am I suprised. here we go.
Last payment made in May. Confirmed all funds receieved and case passed to Closures team in June. told end of November final dividends calculated and distribution would be done mid Jan. Told my paperwork would be done in parallel and CC issued promptly after dividends paid.
Had an email a few minutes ago, 13 days after asking for an update saying a further delay as additional assetts may need to be taken into account and another team would be in touch. No time frame provided.
I am assuming this is PPI. As many others before me I have told GT several times I never had PPI and was even told by them it would not delay my closure.
I am so dissapointed. I have asked GT to send me details of there internal complaints process and to confirm who my IP's regulatory body is in order to complain but I am not sure it will do any good.
Anyone have any words of wisdom?
Last edited by I am fed up on Thu Jan 24, 2013 2:33 pm, edited 1 time in total.
If you haven't taken out PPI on any of your loans or credit cards, then the investigation into PPI will not take them that long to carry out, and hopefully the closure of your case can be escalated.
Apart from the action you have suggested, my best advice is to co-operate with your IP to the best of your ability and hopefully this will not take too much longer for you.
It's not good at this late stage in the proceedings.
I would be furious and, in my personal opinion, GT should simply hang their heads in shame at the way that they are treating their customers with regards to IVA closures.
Why can some companies get it right and others so wrong when we are dealing with a debt solution that is part of government legislation ?
I can’t see it being a quick process checking out the PPI. I can only go by my own experience with My IVA company prior to their latest procedures which has since speeded things up.
There will be letters of authority to sign and return.
Speculative complaints will be sent to all the past lenders to find out if PPI had been sold.
The wait for the lenders to acknowledge receipt of the complaint.
The 6-8 week period while the lenders investigate the complaint.
Follow up letters if PPI had been sold but the Lender decides that it had not been mis-sold.
Complaint to FOS (approx. 18 month backlog)
Final disbursement of funds.
So at best if you did not take out PPI or if you did and the lenders agree to make a payment as soon as possible then you are looking at 8-10 weeks, if it goes to FOS then you are looking at 18-20 months.
Hopefully GT will follow what some other companies have started doing whereby they can close a case as long as you have signed all the required paper work and authorities.
It is a sorry state indeed! I was in a similar position that my last payment had been made and I was told by MY IVA company that my completion certificate would be with me shortly. Then started the PPI “investigations”
7 years after starting an IVA I finally received a completion certificate from ClearDebt
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by I am fed up
So all, they have done it again, why am I suprised. here we go.
Last payment made in May. Confirmed all funds receieved and case passed to Closures team in June. told end of November final dividends calculated and distribution would be done mid Jan. Told my paperwork would be done in parallel and CC issued promptly after dividends paid.
Had an email a few minutes ago, 13 days after asking for an update saying a further delay as additional assetts may need to be taken into account and another team would be in touch. No time frame provided.
I am assuming this is PPI. As many others before me I have told GT several times I never had PPI and was even told by them it would not delay my closure.
I am so dissapointed. I have asked GT to send me details of there internal complaints process and to confirm who my IP's regulatory body is in order to complain but I am not sure it will do any good.
Anyone have any words of wisdom?
I would make a formal complaint to the IP's auhorising body first thing tomorrow morning. I believe all of the IPs at GT are licensed by the IPA. They are duty bound to investigate your complaint and you are not required to go through the IP's own complaints process first.
My experience almost identical to the post from " I am fed up" except my last payment was last January so now past 72 weeks. (Although even by their admission in writing they misplaced my file for several weeks, yes unbelievable but true). The email I received 2 days ago sounds like the same one, and yes after they had said it won't hold things up. Month's ago they said I only needed to sign a form saying I hadn't taken PPi and I wasn't making a claim. This was ages ago and after much chasingb nothing has turned up. I even asked them to email it and I would return it that same day. They refused saying they had to post them in batches!
But they assured me the cc would not be held up so I am absolutely furious at receiving this patronising dismissive email. The normal nonsense, "we are obliged by law" etc etc, yes we know that but why wait a year? They wrote to me about PPi last August and nothing sent since. It has no timescale in it and talks about a third party being in touch and they couldn't give me any further details.
I was under the impression that they are obliged by law as supervisors to honour the obligations applied to the IVA in court.
Yes Andie they should hang their heads in shame they are a disgrace to their profession. I believe that in due course judgements will roll in through the courts against them both by individuals, consumer groups and even better major creditors. A year or more's delay on many millions of pounds of debt will soon start alarm bells ringing in the major banking institutions owed money!....
Unfortunately that will not help me or us get closure in the short term, both in IVA terms and emotionally.
It may be the case that complaints can be issued directly to an IPs regulators - after all there is nothing to stop this sort of correspondence being posted - but the regulators will definately want to know whether the internal complaints procedure has been followed as part of their initial investigations.
In their eyes if a complaint has not been made directly to the IP, can it really be a complaint at all?
I read some interesting statistics today published in Credit Today which indicated that there were 517 complaints issued against IPs generally in 2011 - accept this is pre Paymex and PPI - over 1,725 practicing IPs in the UK. One does have to wonder if this will increase significantly moving forward and whether the regulators have the resource available to cope if it does.
The regulatory bodies have an agreement with the secretary of state whereby they have to investigate all complaints, and they are able to consider matters relating to an IP's conduct. If I wasn't happy with someone's conduct I would complain to a person that could do something about it and not the source. The fact that correspondence is not replied to, or the terms of the proposals have not been met or the IP has not complied with the relevant SIP are clear grounds for a complaint to the regulatory body.
Alternatively The Insolvency Service can take forward a complaint to the regulatory body on your behalf. The only way that progress is going to be made at GT is if all those affected complain to the relevant authorising body
