Following up from a post a few weeks ago. I made my last payment and case was passed to closures in June with the normal 3-6 months to complete from GT. In October I was told closure being held up becuase a claim was outstanding even though statutary request to prove claim had elasped. I was promised an update this week and below is what I received to.
"I can now confirm that all the claims on the arrangement have now been finalised which means that we are now working through the next stage of the process which is the Final Dividend Calculation and distribution.
As regards a timescale for this stage of the process. The IVA system your case uses, being inherited from the previous Insolvency Practitioner, is restricted to allowing one distribution per month. Your case is now at the stage where it can be added on to the list of cases to be distributed however the issue is that the November distribution run has already completed and the next run is currently scheduled for mid January.
The closure cannot be completed until this final distribution has left the IVA. Whilst we await for the funds to leave we will complete as much as we can of the final stage of the process, which is the Final review and report production. Our intention is to be in the position where we are able to issue your documents as soon as the funds have fully cleared the account, assuming no further issues arise at this late stage"
I have to say I nearly fell of my chair. Claims are final, dividends are pretty much calculated and funds in the account but payment cannot be made because the computer sais no?
Hmmm --- OK. let;s buy the one distribution per month.
Ooops, we have missed Novembers run. The next run (at one per month) is scheduled for mid-january. Who cancelled December ??? I must have missed that snippet in the BBC News pages!
On the plus side, at least they are trying to get everything else tied up in the meantime, instead of waiting until after the January run (which some companies might have done).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
You have been told what they tell everyone, it's absolute b***s***, they have to be the worlds worst at closures, their incompetence is what is screwing it all up, they can blame some one else for so long and then they will have to take responsibility for their failures, which is exactly what it is, a complete and utter failure on GT's part. You can only hope that eventually people that read these post will not sign up to GT or if they have, transfer their business elsewhere and stop this company from doing this kind of work as they are clearly failing in this area of the business..
Unfortunately cptredwell, those that are already on GTs books are trapped, as it is nigh on impossible to change IP yourself. And some that are now with GT didn't sign up with them, but were transferred on takeovers, without consultation.
My current crusade is that there should be a mechanism whereby clients can change IP (for good reason obviously). Perhaps, then, these large companies wouldn't be so complacent.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I definately know that there have been software integration issues with the differing systems used by the predecessor firms, which are bound to be causing delays. I hope that this can be resolved as soon as possible for all clients whose closures are being delayed for these reasons.
Hi all .. well i got transfered over from BE who i was very happy with and never had any problems with . Since being with GT its been nothing but misery and stress .. I have fantastic clever husband who has been dealing with gt on my behalf and refuses to take and listen to the rubbish that they spill .. so with the support of him we are now taking the steps of breaching the iva and take the consequences that will be coming our way .. but i dont think things can be anyworse than they are now ..
I have two payments left to go just filled in my last I & e, now truly worried about the delay in closing. i was with Tenon who upto this year were fantastic. now STUCK with GT. I thought coming to the end of the iva would be easy as would anyone. but now seems to have more worry when first starting out.
GET A GRIP GT !!!
Never regret what you done in life, regret what you have not done,
final payment made
NOW THE WAIT
I am sure that the RSM Tenon portfolio is not affected by software integration, but GT ought to be able to confirm whether your case is on track to conclude on time.
Thanks Mel, what we do without your brillant advise. the queen should make you a dame in the new year honours list, for all the great help you give everyone
Never regret what you done in life, regret what you have not done,
final payment made
NOW THE WAIT
"Thank you very much for the timely update. It's great to hear that all the claims have been finalised and that dividends can be paid and subsequently the final report created and completion certificate issued.
However, I do have a concern over the timings you propose. I do not believe it is reasonable to expect my creditors to wait in excess of 6 weeks from this point to recieve the dividends or for me to wait a similar length of time to receive final closure. Therefore, I kindly ask that the dividend payments either be made via a scheduled payment run in December (I see no reason why this should wait for January) or via a manual payment.
Your help in driving this to closure is much appreciated."
I am with GT too! final payment made in April and being told its only just moved into dividend calculation! I am furious! i have complained! they dont care! and 10 days to reply to an email is just wrong! they just dont care! I would tell people to avoid them as they play with your freedom like its an inconvenience to them!
@ I Am Fed Up - I have emails saying the same that one claim had held it up! when i pushed to see which creditor it was i had to point out they were never a creditor! sounds like its all scripted and they have no intention of doing anything within the 6 months! I would compare the stress of not having finality to the stress of signing up to an IVA you just dont know where you stand and your life is still on hold!
