Of late there have been a fair few fines dished out.
What do the regulators do with this money? I feel there should be an element of compensation available to the wronged party.
Out of interest I notice that, in one of the latest, the IP cites the difficulties caused by Paymex (ancient history) and the PPI crisis (which most others have managed to cope with) in mitigation ..... he mentions nothing of his firms avaricious acquisition of other firms caseloads, well beyond their capability to cope.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk
In fairness to Mark Allen, GT did take on a huge caseload of files and many were not in great shape. They have thrown resources at the problems and given the number of files they have there are actually very few complaints. The complaint do seem to have slowed down as GT sorted ouit the problems with their caseload so I would think there will be fewer if any sanctions against Mark Allen in the future for these type of breaches.
I am not trying in any way to justify the delays caused and certainly understand the issues this has caused for GT clients but hopefully none of this will arise again.
The Payplan thing is another issue altogether which I cannot understand. In GTs case they had a huge backlog and a number of systems to integrate and I think they basically underestimated the work they took on. They now seem to be back on track and in fairness we do see very few complaints on here in comparison to a year or two ago.
If Payplan are waiting for the outcome of the Green v Wright court case then this is potentially open ended as while there may be a judgment by next summer there is always a possibility of further appeals. The closures could potentially be held up for years although hopefully that will not be the case.
A delay is a delay is a delay and people would not go into an IVA if they knew this would happen either in terms of a company empire building or in terms of not managing certain processes that they have had years to come to terms with.
Companies sell themselves linked to a start, a middle and an end - not manana.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.