Hi, I completed my IVA on the 1st May 2012 after 68 monthly repayments but this has not been signed off yet. I have complied with everything that my company has asked, including increasing payments when i recieved a promotion at work and never missed a payment. Each pay review that has gone by has come back clear but now when i have finished my IVA the company are advising i owe them money from 2009 which is a first to me. It has never been mentioned on any other reviews, neither when i spoke to the company when i finished the last payment to see what happens next. I have tried emailing them to see whats happening with no response and they don't give any answers over the phone only "we'll be in touch". Can they do this as i didn't think it could go any further than 72 months.
Last edited by John1782 on Mon Aug 13, 2012 2:25 pm, edited 1 time in total.
Your IVA company will be sorting out final payments and also there has been an issue with VAT and PPI claims which may well be affecting your completion.
You won't have to pay anything else as you have made the last payment but you may have to be patient - some posters have been waiting over twelve months.
HI Niobe, thanks for the reply.
I am with Grant Thornton, relating to what you are saying they have also sent my details to another company with my permission to see what if any PPI was due. I didn't realise they could claim money back and add this into the IVA once all the payment terms were complete. The letter was sent to me after my final May payment.
My main reason for worrying is i want to start looking at mortgages and i am concerned that i will be left in limbo for a year or so without being able to apply. Will this be the case?
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by John1782
My main reason for worrying is i want to start looking at mortgages and i am concerned that i will be left in limbo for a year or so without being able to apply. Will this be the case?
I'm afraid it may well be. I've been waiting since October 2011 for closure to happen. By the time I see my Certificate I reckon most of my defaults will have dropped off my credit report anyway.
I just don't see how Grant Thornton can get away with it. When you have worked hard to pay off everything and all you want is a clean slate it just becomes morally wrong to still impose so much on your life still. Hope you get your certificate soon.
What would happen if you came into money in X amount of money can they claim they should be owed part of this too. Not that i am due money but again just another concern.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by John1782
IVANotOverYet-
What would happen if you came into money in X amount of money can they claim they should be owed part of this too. Not that i am due money but again just another concern.
Yes, they would have a claim on any lottery win or inheritance that you recieved while you are waiting for your completion certificate.
To be fare to GT, they are not the only IVA company screwing with people's lives. MY IP Cleardebt are doing exactly the same thing.
7 years after starting an IVA I finally received a completion certificate from ClearDebt
Again i come to the point of it stating that an IVA cannot proceed any further than 6 years, this is just rubbish then if the IP can delay it that long and claim anything further that may come your way.
Can they ask for further wage reviews / bank statements etc to get more returns or is it purely a large win / inheritance?
Our firm has spoken to creditors and they have advised that they will not seek any windfalls post IVA if there is a delay which is not the client's fault. While this has yet to be tested we have assured all our clients that we will propose variations to exclude any windfalls and we will not be chasing any overtime or bonuses after the final contractual payment has been made.
I am not sure if all firms have this policy but it seems the only fair one to us. We do not want to keep cases open longer than necessary and we certainly do not want to penalise any client because of circumstances such as PPI or VAT which are plainly beyond their control.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by John1782
IVANotOverYet-
I just don't see how Grant Thornton can get away with it. When you have worked hard to pay off everything and all you want is a clean slate it just becomes morally wrong to still impose so much on your life still. Hope you get your certificate soon.
What would happen if you came into money in X amount of money can they claim they should be owed part of this too. Not that i am due money but again just another concern.
I agree completely. Sadly it's a fact that although my court paperwork from 2006 states that the IP must close the case within 3 months of the final payment, I'm left in limbo wondering whether GT are ever going to close my case. All I keep being told is that it's because of the backlog, because my case was taken from another IP and there's a mistake, etc.
I have been waiting since september 2011 for my certificate of closure from debt free direct. I phoned them today and was fobbed off once again. They said that my credit report is not clear until they send the certificate even though its supposed to be clear next month as it will be 6 years since IVA acceptance.
My legal advice on this matter is that a Supervisor of an IVA would find it incredibly difficult to argue that a windfall is due to an IVA when the debtor had maintained their full obligations and the timeline set for the IVA duration had expired. Anyone faced with such an issue, ought to seek independent legal advice before handing over any further monies to their Supervisor.
