I went into the IVA but my wife did not, however we had a joint loan with Barclays. My wife made arrangements to make monthly payments and Grant Thornton also agreed to do the same.After about two years my wife asked Barclays for an up to date statement and upon subsequent perusal all of her payments had been recorded but only one from GT. Some 15 payments allegedly made by GT were unaccounted for totalling over £1200. So we asked Barclays to investigate and after several letters and phone calls got nowhere apart from them saying no record of any payments. In the meantime I asked GT to investigate and they eventually stated that the payments are paid to TIX (the insolvency exchange). Barclays subsequently denied having any relationship with TIX. The money remains unaccounted for and neither Barclays or GT seem to give a toss. This has dragged on for 6 months and I have now complained to the Ombudsman but they also seem to be getting the run around. What can I do?
Sorry to here you are having problems with this. The answer is tricky as it depends on the terms of your IVA. It is possible that GT have taken some of their fees at the start of your IVA which is not uncommon and this delays the initial payments to your creditors.
This can take up to 18 months depending on the size of your monthly contributions and the terms of your IVA.
It is also worth noting that in your case regarding the joint debt, usually whatever is not paid through the IVA would have to be paid by the joint person not in the IVA; in your case your wife. Your liability for the debt would finish when you complete your IVA.
GT should be able to give you a clear breakdown of what they are due to pay and when, so i am not sure why they have not done this.
Steve Rees - A spokesperson for IVA.co.uk and Director at Vincent Bond & Co.
Want to share your story? Highlighting the issues facing people in debt is often a story that the media want to hear about. iva.co.uk will pay up to £500 for a successful case study - if you are interested please email steve.rees@iva.co.uk for more details.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Steve Rees
Hi Peter,
Sorry to here you are having problems with this. The answer is tricky as it depends on the terms of your IVA. It is possible that GT have taken some of their fees at the start of your IVA which is not uncommon and this delays the initial payments to your creditors.
This can take up to 18 months depending on the size of your monthly contributions and the terms of your IVA.
It is also worth noting that in your case regarding the joint debt, usually whatever is not paid through the IVA would have to be paid by the joint person not in the IVA; in your case your wife. Your liability for the debt would finish when you complete your IVA.
GT should be able to give you a clear breakdown of what they are due to pay and when, so i am not sure why they have not done this.
Thanks for the reply Steve but GT have sent a statement with the dates and amounts they have claimed to pay Barclays via TIX. My guess is that TIX have not made any payments to Barclays except on one occasion. Therefore both GT and Barclays should be bringing TIX to account. I would like to know what the relationship is between the three parties. My guess is that if TIX are witholding my payments then it is unlikely that this is an issolated case. Obviously fraud or theft can't be ruled out rather than general imcompetence.
