www.iva.co.uk

Dear Expert, I have been informed from a company (Grant Thorton UK LLP) via phone that my IVA company(debtmatter) that made them the new case manager of my IVA. Spoke to them and they said that this is legal and they can do it.
I would like to ask if they can do this and also why they asking me to sign an acknoledgement paper?

Hi
Debtmatters have sold their IVAs to various companies,Grant Thornton being one of them.You have nothing to worry about as GT are a reputable company.
Regards

Dear Expert,
My question is that, do they have the right to sold their IVAs to other companies without to let me know it, and why I shouldn't be informed of this passage, but only when it has been done? I also been told from GT that I have arrears in my payments, while I spoke to DM and they said that this is not true. As you can see I am already in trouble with GT. Can you tell me if I have the right to enquiry to have the legal documentation concerning about the selling?
Thank you very much

andydavie wrote:

Hi
Debtmatters have sold their IVAs to various companies,Grant Thornton being one of them.You have nothing to worry about as GT are a reputable company.
Regards

I am afraid that the selling of IVA portfolios is now getting very popular and as a debtor subject to such proceedings you have no right of objection unless there are very good reasons and you would need to make an application to Court to have the Supervisor removed at your own cost.

If GT and Debtmatters are going to start arguing over the compliance of cases which have been purchased, some people may well get caught in the crossfire. Ask GT to confirm to you in writing why they feel you are in arrears.

Thank you very much for your answer.

I would like to ask some more questions, as I believe this is the best forum that I have found on web.
I have been confirmed from DM that they have sold it to GT and this happened last 20th of feb. The question is GT should go through the review of my IVA case? and if is it so do they have to go back on court to provide my documents?

MelanieGiles wrote:

I am afraid that the selling of IVA portfolios is now getting very popular and as a debtor subject to such proceedings you have no right of objection unless there are very good reasons and you would need to make an application to Court to have the Supervisor removed at your own cost.

If GT and Debtmatters are going to start arguing over the compliance of cases which have been purchased, some people may well get caught in the crossfire. Ask GT to confirm to you in writing why they feel you are in arrears.

Hi

Whilst you may have a named IP as your Supervisor, your case as an asset belongs to the firm. As a consequence DM are able to sell your IVA to another IP firm. I anticipate that in a short while an application to Court will be made to appoint a GT IP in place of the DM one. Once that has happened GT will assume all legal responsibilities for your case. The Court Order will spell out the formal notification duties - it will probably be with the next report to go to creditors.

So far as your case is concerned, If you say you are not in arrears you cannot rule out a payment arriving just after a "snapshot" was taken of your case by GT. I recommend you take a record of the dates on which you made payments, particularly your recent ones, to assist you in the event of any misunderstandings, especially during the next 2 or 3 months.

If I can reassure you, GT are a very good and professional firm. I don't see the transfer of your case adversely affecting you.

ian

Thanks for your answer.
I would like to let you know, that someone from GT (Marie Jackson) called saying that she was from debtmatters( I discovered after that she is an GT rappresentative) and said that I was in arrears which was a missing payment of the last june. This happened cause I needed to evaluate my flat as I agreed with DM. In fact DM sent to me a letter to give me a new figures to pay till last december and integrate what was missing.
So I did it and I prefectly matched what DM said.
If i can add something about GT, they did not approach me on phone with good manner( she was quiet unprofessional on phone as she couldnt answer my questions without leave on phone holding)and also they did not introduce themself as GT which I believe that this is one of most important thing when you are approaching a new customer.
I beluie

We are all only as good as the worst person who works for us, I'm afraid.

Most people's experience of GT seems to be a bit different from yours. I can understand that isn't the best of starts for you, and imagine you will be monitoring the treatment you get in the future. If you don't get treated fairly, there are complaint mechanisms available to you but I think that's premature at this stage.

It's not clear from your post, but have GT now accepted that you are not in arrears?

Ian

I have asked to DM to send a letter where they confirm that I am not in arrears, then I will contact GT. Officialy I have no received any document from DM or High court where GT it has been apponted as my case manager. I just received this call as I explained before and I started to call DM to have more info, but both companies they treated me as I am not entitled to know what happened. Actually, only when I received the first answered from you I understand that DM sold out my case. So, this morning I called DM and I said if they have sold out my case and this time they answered yes

There are several thousand cases involved so I suspect it will be a while before they can get the Court Order, due to the paperwork that needs to be done to get the cases transferred.
So far as DM is concerned, the transfer is an admission that their IVA practice hasn't worked out, so they have been rather shy about it. Also, most of the staff who were hitherto dealing with your case are likely to have been made redundant, so it is quite likely that those handling your case at either end probably know very little about it. If you can get the letter from DM that will help, I'm sure.

Apart from that, my advice to you is not to panic but to simply keep making your contractual payments.Your worst case scenario is that you are 1 month in arrears, which isn't default in my book.

ian

Definetely I am panicking.
During this phone (with GT I assume)call that asked me to say yes to this new case management, i was unprepared and I asked to send me a letter, whcih I received and in it there was only reported that I need to sign as i acknoledge that my case supervisor is GT.
What would you siggest me to sign and sent it back or wait a letter from DM, whom said that they have sent already to me in which they are explained that I have no arrears and etc.
Thank you

Actually to get back to the title of your thread, the transfer will take place without the need for you to consent to it. I suspect that they are simply seeking your agreement to administer your case in advance of that formal transfer.

I would have a word with your case-handler and ask her to spell out the actual purpose of the letter. I would have difficulty putting a sinister interpretation on it, but you need to put your mind at rest and it needs to come from the horses mouth. Also use that call to tell her that DMs interpretation is that you are not in arrears and that you are awaiting written confirmation of this.

Hope this helps

Ian

Thank you very much Ian.
So, would you speak to my case-handler and back to me? I really appreciate you
I am trying to get rest but this mean a lot to me.
Thanks again

There is really no need for you to worry about any of this. GT should not be acting in your case until the Court Order appointing their partners confirms this. In the meantime, as Ian has said, continue to make your payments in the usual manner and you will have nothing to worry about. The issue of arrears can be dealt with at your annual review - as one month is neither here nor there in the great big scheme of things.

The point is that it is not even a month but something else. They have said that Debmatters made a mistake in a calculation and I have to pay £111.00 pounds.