I have just received a response from GT. They are saying that they didn't receive the consent to the updated T&Cs until the closure had been approved. They sent the new terms at the beginning of November, I returned the signed consent the next day.
They have said:
I can certainly investigate receipt of your posted consent however as confirmed at the time the case was ready to close we were unaware of the consent and as such the creditors meeting did not take place to apply the terms to your IVA and we are not in a position to retrospectively apply the changes now that your arrangement has been closed.
The PPI investigations can continue after the closure of the arrangement but unfortunately we are not in a position to refund the Statutory Interest element in respect of your claims because the terms of your IVA don’t allow for it based on the proposed changes not being applied.
As confirmed in the original emails between you and Barry O’Donnell, the terms of your arrangement contain an All-Asset clause and so this explicitly allows for the recovery of PPI redress – and has been confirmed by our regulator – where all monies received are due to creditors, and the specific terms were outlined. The proposed changes included terms that added an incentive to debtors to co-operate with the process however at the time, you were very concerned with the other terms that would be included and also confirmed that you had already commenced pursuing PPI independently. Based on your frustrations at the time, we could not prolong the process any further to await the consent, and allow 2 months for the creditors meeting and objection period which is a legal requirement before issuing the documents to you and all other stakeholders to the process and subsequently your IVA was completed in November 2013.
To be honest, it isn't really worth getting too caught up with getting statutory interest, as the sums involved are the net worth after deductions (25 - 30% claims company. 15% IP. 20% HMRC) So what you think you might get will not be as much as hits your pocket.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
It's £1,600 after tax. No claims company as I did it myself so even with IP it's around £1,300. Believe me I wouldn't go to all this trouble otherwise. Moving house so every penny counts
Thanks MerlinL14, I did it last week. I was reading through the certificate of completion that I had nearly 2 years ago from M,D & C and it states I was released from any further obligation so I really don't know how GT can make me jump through more hoops 16 months later. They swap and change their minds to suit them I think.
I have to say that I do not favour incentive schemes to get clients to co-operate with PPI refunds. It is a client's duty to pay over assets to which creditors are entitled, and the IP's jon to make sure that happens. I have not encountered any problems with my own clients in co-operation with PPI investigations - and it seems in Joanne's case that her IP does not believe that she returned the consent forms, and thus the suggested variations - whatever they may be - were not incorporated into her IVA.
I also fail to see how this case could be varied at all, when a completion certificate had been issue nearly two years ago.
I agree with you, I thought it was completed but my name was still on the insolvency register. I took this to the ICO before I had any knowledge that GT had taken over and would want me to complain about PPI. It was only because their claims company were harassing me that I contacted them. Having claimed over 100k for my family, I wanted it closed and so complied with the complaints. I signed the agreement as there was something in it for me. I specifically asked about time limits as I know that some of my family's have taken 2 years. The response given leads me to believe that as long as I agreed and signed, the incentive would be mine:
To be clear, we do not require the PPI claims process to be completed in full prior to issuing the final report in an instance where the proposed changes have been formally agreed.
If I'm wrong, then I accept it but I've read through the original T&Cs, it states on there that I had no assets and none would be included after the 60 month term. It doesn't exclude PPI though
I think that you do need to seek independent advice Joanne, given the complexities and unusual circumstances that your case appears to have. Are you even sure that your IVA provided for PPI to be paid into the arrangement in the first place?
Not in the original T&Cs. I looked through them today as I was scanning all the relevant docs in order to send. Them to BIS. I should have taken advice before getting into this mess. Even the claims company said they shouldn't have contacted me when I advised I had already received the certificate of completion. The closure had been held open for the HMRC rebate. What I don't understand is that for the original certificate to be issued, then surely the creditors must have agreed to it? In which case, why would it have to be closed again? I'll let you know what happens with the BIS
i have to contact the eic myself now grant thornton told me i had to they did say i would get some ppi back again i am having to fight for everything gt is not much help to me.
Last payment made August 2012 Certificate of Completion recieved 15th of Novenber 2013.
5 months in and no response from the BIS. Is this normal? I have changed address in that time so I have forwarded my new address today? Any advice please?
I havent reported them yet I still have on going ppi although my iva was closed last year I havent recieved any interest from gt yet as ppi is taking too long.
Last payment made August 2012 Certificate of Completion recieved 15th of Novenber 2013.
