I have received the Mass Varition Meeting terms and condtion's to sign from GT. One part of the wording worries me, and I wondered if anyone could put my mind at rest? It reads as follows
"for the avoidance of doubt, after filing the final report the supervisor will retain all powers under the IVA sufficient to deal with any VAT recovery, any pending PPI claim, OR ANY OTHER MATTER not dealt with under the arrangement"
The "any other matter" leaves things very open??? I am sure a poster on here, showed this to a solicitor to read over, and said it was all ok, and they can't claim anything other than PPI or similar claims, not inheritance, or windfuls etc...
Also there is no time limit on the terms and conditions. could they still be in contact with us about claims 10 years on etc?? I find it very exposed and not detailed.
Any advice or help? and does anyone know the poster who got the solicitor to look over it?
Hi Lottie12, I'm not sure if you have been with GT from the start of your IVA but as you say it does leave you wide open for GT to claim whatever they wish even after your IVA is complete and yes they will claim windfalls and inheritance.
I was inherited by GT from Blair Endersby and mine was worded to try and change the terms and conditions which I refused point blank to sign.
I would try and e-mail them asking them to be more specific with the wording and explain in writing exactly what they mean.
Last edited by jeffw on Mon Apr 22, 2013 2:43 pm, edited 1 time in total.
"OR ANY OTHER MATTER not dealt with under the arrangement" - most assetts, windfalls and inheritences etc and how they are dealt with are already covered within the IVA, therefore this statement shouldnt give rise to anything overly alarming - in my opinion. It should only be for things that weren't really percieved at the begining of the IVA such as PPI and VAT reclaims, because nigh on everything else should already be explicitly defined in the original proposal.
Thank you for your thoughts. I have emailed the variations team, but so far no response. Just would nice to get some clarity. I can't see how they could ask for inheritance or windfulls once the IVA is complete. Surely not? maybe an expert on the forum could give their thoughts?
I have my original proposal which was set up by Blair Endersby.
I asked GT to send me a copy of it which they did. They have actually changed some of the wording on it to GT requirements.
I never signed an IVA with GT, and I have never signed or agreed to any changes of terms with GT either so how can GT just change a legal document and then claim I agreed to it ?
I have asked repeatedly for proof of where I signed or agreed to their revised terms and they cannot give it to me.
They have even claimed my wife agreed on line (My wife has never in her life turned a computer on and wouldn't know how to)
GT are very sly in what they do.
I had an e-mail from them one week ago in it claiming "the terms I agreed to"
Again I immediately e-mailed them back asking for the proof and guess what !
NO REPLY FROM GT AGAIN
I actually don't think there is anything sinister in that wording, however given that it is your proposal to creditors to vary the terms, why not just ask for that phrase to be removed. I would not have thought this would cause your IP any bother to be honest.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles
I actually don't think there is anything sinister in that wording, however given that it is your proposal to creditors to vary the terms, why not just ask for that phrase to be removed. I would not have thought this would cause your IP any bother to be honest.
Whilst it is your proposal to the creditors it has been prepared by GT to fit in with their "mass variation" model. I am of the understanding (feedback from a robot at customer services at GT) that it is not possible to alter proposals individually as this will make it unworkable on a "mass" basis..
Ultimately if you are not happy to sign the document then don't. The T's & C's only change if you sign it, if you don't sign then things just continue under the original T's & C's..
They are calling separate meetings so I don't see why the terms cannot be tailored to suit individual cases. All cases need to be dealt with on an individual basis, even if the underlying principle that is trying to be achieved is a common one.
I guess its the usual thing that those that answer the phones don't really understand what is going on and the information they give may not always be correct.
They are probably very busy with the increased workload of GT and they tend just to give answers to direct questions as opposed to offering advice and support, hence this forum, and people like yourself, being a godsend to those with GT....
Not sure why any IP firm would want to employ people who don't understand what is going on and don't give out correct information! They wouldn't last too long in my firm if they did that!!
Increased workloads warrant increased trained and experienced staff to cope with those workloads as required.
I have just been called by a company ,a subsidiary of grant Thornton,not e I f, who have asked why haven't sent the variation form back. I have told them I won't sign anything I don't understand and I have already spoken to grant Thornton 're this. This is the second call I have received since speaking to the official grant Thornton . I'm starting to get grrrrrrrrrrr
