www.iva.co.uk

Received a letter from Grant Thornton saying, "Due to an order made in the High Court of Justice they are now your new supervisors". I would like to know whether this is correct. And how this has happened.

I have done nearly 4 years of a 5 years agreement and complied with everything in this time.

Were you with a different company Martyn? if so perhaps GT have bought the other company which has happened with others in the past

Good morning Martyn & welcome to the forum,

Who is/was your current IVA provider?

Hi Martyn.dl welcome to the forum

I am slightly confused - are you in an IVA (5 year agreement) and are GT the existing company you have been dealing with? If the answer to both is yes then I am not sure why you receive this letter now. If you were previously with another company, their cases may now have transferred to GT but I would hope the first you hear of it would not be a letter from GT but one from your previous company!

GT have representatives on here who may be able to clarify for you.

Hi Martyn. I gather GT have taken on Money Debt & Credit IVA's very recently -- were you previously with MDC ?

As another poster has been it is possible and if you were with Money Debt and Credit that will be the case I assume.

Hi ill add to this I was with MDC same as the origanl post 18 months left and my IVA has not been moved to GT in the last couple of weeks for what I can see everything stays same no major changes in the t & c,s

Hi Jay -- when I was moved from Tenon to GT in a buy out I was not informed until some weeks after the event, and only then because I had a review coming up -- I believe others were left several months before learning of the change.

Foggy that's not good..to be honest I'm glad of the move MDC was not the best company I had several case admins in 3 years poor communication from then when I was sticking to my end of the iva..so will see how I get on I'm jus hoping MDC has informed GT I have already gone through PPI claims and settled them..

GT have major closure problems at the moment -- which will not be helped by the new acquisitions. But my experience with them has been largely positive. Hopefully, they will be sorting the issues out.

My previous IP had started PPI on my case and GT are leaving the claims company to conclude investigations, rather than re hash everything.

I gather the transfer was effected on 23 July 2013, and has incorporated the whole IVA portfolio of approximately 5,000 live cases. It is not usual for clients to be notified in advance of the transfer, which is generally a matter for the outgoing and incoming firm to broker - althought I am sure many of you will have views to make on that point.

Melanie If you are been passed around like a cheap rag by companys it would be at least polite to let you know its happens one more thing some IP's could learn, with GT the first thing i found out was a random phone call demanding money be transferred to then...and yes i did tell them to get knotted and inform me in wiriting before i was prepared to pay an unknown.
If anyone else dealt with your business like GT does there would be hell to pay in any other sector.

I am afraid that commercial confidences, when major business transactions are being carried out, mean that neither the outgoing nor the incoming firm can highlight details of the transfer until it has been properly completed. I am aware that this will not be a popular comment. I do agree that a notification letter ought to be issued before press releases, but am unsure how practical that is in reality.

I agree that commercial sensitivities usually prevent such dealings being pre-announced, however, in my experience the press release announcing the transaction is usually accompanied by a mail shot to clients.

In the world beyond insolvency a company can easily lose disgruntled clients ... of course this is of no concern with a captive clientele.

Since when did Gt tell anyone anything? mine was a complete bolt out of the blue no notification at all just the demand for money to be paid in future to them.
They started on a bad foot continued on it and fell over on it at the end with me.