i contrated into an iva in sept 2005 I comleted my iva 16 months ago after a 12 month extention and still havnt recieved my completion certificate upon contacting grant thornton they sent me an email apoligising for the delay,and stating that my final disbursments would be made in january and they would send my certificate immediatly after,i contacted GT and asked why i still hadnt recieved my certificate, they are now saying they have to investigate if i have a ppi claim, if this is so why havnt they done this when i completed my iva, they have waited 16 months to do this, is this legally or morrly correct
I am in exactly the same position and with the same company too. I started my IVA in August 2005 and I too had to do a 12 month extension. I was informed last week that they have to investigate to see if I have a ppi claim. I cant quite believe we are coming up to the 8 year mark and no end in sight!!!!! I cant offer you any advice but wanted you to know you are not alone and this is no beyond a joke. I really hope this gets sorted soon.
I was also not asked about PPI until almost 12 months after my last payment. PPI was never mentioned in any communications I had with GT until I chased up my cc and received the same response. Is this legally correct, well possibly. Is it morally right, absolutely not. To deliberately extend the waiting time for completion by not starting PPI investigations until way past the time the cc should have been issued is a rotten practice and evidence of very poor customer service. I can't understand why they are doing this and despite reassurances to the contrary, I suspect they have been overwhelmed by their recent acquisitions. The alternative view is more sinister.
the phrase"coundn't run a piss up in a brewery"spring to mind.
why do they always think that becorse they are useless everybody will understand.
im fed up of reading just how inept they are at running a buisness that most other iva firms can manage perfectly ok without hideing behind a screen of silence.
i always thought that your proposal was law in the courts eyes so how can they not close cases in a reasonable time after last payment.
this ppi was a while behind some of these cases that should have been done and dusted.
glad im not with them
cc received 6th January 2014 now upwards and onwards
Hi Raymond. Legally they are now obliged to investigate PPI. To not to do could incur the wrath of the creditors, who could come back and cause all sorts of problems ( which will, I am afraid bounce back to us "clients" ).
Morally ... that is a whole different can o' worms !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
To be fair Foggy, your quote "To not to do could incur the wrath of the creditors"
Correct me if I'm wrong. Isnt it the majority of creditors who missold the PPI in the first place ?
Last edited by jeffw on Sun Feb 24, 2013 7:07 pm, edited 1 time in total.
I think this is disgusting. They had 5 years to investigate any ppi claims. If yr Iva as gone the full term then tough on them. You have agreed to do yr part. It's not yr fault they can't get their act together. I think they should not be allowed to practice or take on any new clients until they have issued out certificates to all those waiting!!!
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by jeffw
To be fair Foggy, your quote "To not to do could incur the wrath of the creditors"
Correct me if I'm wrong. Isnt it the majority of creditors who missold the PPI in the first place ?
True Jeffw -- Many of them were also in the biggest IVA in history when we had to bail them out, and others face charges of liiegal dealings ...... still doesn't stop them rubbing our noses in it though, does it ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Many of our original creditors have sold our debts on for meagre amounts of money. It is the new creditors who will get the PPI and I don't feel any obligation towards them whatsoever. Unless our original creditors off set PPI against our debts, the new creditors are quids in.
A lot of IPs are only just starting out with the PPI process - the reality is that clarity has only recently entered the marketplace as to how this should be done. Whilst some IP firms may claim to have been leading the way, or market leaders, in reality a lot of firms have been making sure they are properly entitled to the money, and that they undertand the process which has to be followed, before they leap into the exercise.
My firm is one of the late starters - although in reality I have been working behind the scenes with the regulatory bodies for some time - and I certainly don't consider myself immoral, and neither I hope to any of my clients, who are understanding the need to check these things out.
Finally received paperwork from Grant Thornton this morning, they are now proposing a variation of my IVA despite the fact that we already proposed a variation, which was accepted for "full and final" early settlement and has been satisfied, they use the term, reference the PPI issue "failed to disclose", pretty weak really, seeing as the creditors in the IVA were the ones that missold it to me in the first place.
The finela paragraph of the 8 page letter reads " What happens if I say no to this change" "If you do not vote or respond "No" to this proposal, your IVA will remain on your original terms and conditions. We will unfortunately not be able to apply the flexibility of our updated terms and conditions to your arrangement should the need arise in the future, also this could delay your closure until final legal guidance is issued on PPI.
So "Original Terms and Conditions have to be those varied last year by agreement of the creditors, lump sum paid in early full and final settlement, I'm OK with that, so whats the problem, issue the certificate and don't accuse me of misleading them because they have screwed.
I am inclined to agree with you Mike. But at the end of the day the wording of your F&F holds the key to whether this released you from obligations to ensure that all assets included in the IVA were realised. Is your IVA of the "defined asset" or "all asset" basis?
Hi I am new to the forum and have been reading the post about GrantThornton with interest as I too am now coming to the end of my IVA last payment was made yesterday. I have also received a variations to the terms of my IVA for PPI. I have 4 claims in at the moment which so far have taken nearly 4 years to go through the system and are currently with the FOS as the firm have agreed to refund but not the full amounts due.
I have read the variations to the tems of my IVA carefully and they seem to point to GT and my creditors been entitled to any and all refunds of PPI that might be due if I sign them.
My question is that some of these were joint loans with my wife taken out before my IVA which is a single IVA and were also repaid in full before my IVA. In these joint cases should my wife be entitled to half the refund of PPI as she was jointly liable for payments if we defaulted.
If I now sign as accepting the variation of terms and by doing that will I be agreeing to allow all the PPI to go to my IVA and forfeiting my wife's claims to half the refund?
Hi dels22 - welcome to the forum. Did your wife maintain her own contributions to the joint debts throughout her IVA? She should be able to keep her share of the PPI however if your proposal took all of the joint disposable income as it was deemed necessary by the creditors then they may try and claim all of the PPI.
It is best to clarification from your own IP as they can confirm the exact wording of your proposal and what its implications are for you wife.
It is an interesting question and one I am sure will come up many times so please keep us posted on what the outcome is from your discussion with your IP.
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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