I had my letter yesterday so will be signing it and sending it back.
Also had my ex husbands letter - they do have his address but not sure it has quite filtered through as both letters are addressed to his address first then mine so they've both come here. I see there is a form about confirming contact details - maybe I can convince them again we live in different houses.
Paid F&F in July 2012 and received CC in July 2013
WOW soglad i found this site im having soo many problems cant even begin.
BUT on the subject of ppi IVE DONE IT ON MY OWN NO GT BUT GUESS WHAT IT DOES NOT WORK!!!!
when you enter into an iva it does say smallprint laws etc.. ppi does have to be paid into the iva.
ive recieved a letter from a well known bank to say im owed lots of ppi BUT they will write the check out to GT as they have searced data and it says im in an iva and they cannot give the cheque to me!!!
ive compleated the iva so ive managed to put the bank on hold but they will not not!! givce me the cheque untill i have a compleation certificate and well thats another story!!
i am so angry at this weeks antics i will write more tomorrow.
im aslo waiting on that phone call been waiting several months now!!!!!
by the way i need help please anyone.
as to how i complain and if possible how i get compo for the bad manegment.
this is one of the problems along with loads but this has got me very upset.
i had a call i had over paid by a THOUSAND pounds and they would reemburse me and took my bank details.
the closure process could nolw begin.
very happy a supprise i was ready to treat my family.
i had a call 3 days later they got it wrong i was owed NINE POUNDS.
to be honest i cried i couldnt beleive it im still waiting for a better explanation i got a small apologie but the lady said i was owed 1400 pounds i was so confused still am kick in the teeth and still no phone call ive called twice a day for the last 3 days no response.
The bank cannot make the decision whether to pay you the money or not Sabrina. The terms of your specific IVA will determine whether the claim monies are an asset of the IVA or an asset of yours. If the IVA is a defined asset case, then you may well be able to retain the money - and I recommend you seek legal advice on this as soon as possible.
If the monies are properly captured by the IVA, the serving of a Certificate of Completion makes no affect - the monies will still belong to the IVA post-closure.
Who do you actually want to complain about - a creditor or your IP?
I have or should I say had, although I'm not quite sure where I stand right now, supervised by Grant Thornton, at the beginning of 2012 we made an offer to settle early, in April 2012 our variation was accepted and appropriate funds were paid. In July 2012 we receiver our annual report in which it states " To date I have received £ xxxxx.xx from this source and can advise that payments are complete. this case has been passed to my closure team. a closure report will follow in due course. So imagine what mt response was today, when I was told that I would not now get my Certificate of Completion until the matter of PPI had been sorted. I think Grant Thornton have overlooked the fact that we already have a contract that has been agreed by all parties and that consideration has been paid in full and therefore legally binding. Correct me if I am wrong, but does this not constitute breach of contract on their part? So as to when I will receive my certificate, who knows, perhaps they will move the goal posts again.
Hi Mike. s Mel said in the post above yours, if the PPI is an asset of the IVA, as per the proposal (that is to say if your proposal captures all assets, other than those specifically excluded)the the consideration in this contract has not been paid until such time as PPI is addressed, so, no, as much as the situation is annoying in the extreme, there is no breach on this point.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Foggy
Hi Mike. s Mel said in the post above yours, if the PPI is an asset of the IVA, as per the proposal (that is to say if your proposal captures all assets, other than those specifically excluded)the the consideration in this contract has not been paid until such time as PPI is addressed, so, no, as much as the situation is annoying in the extreme, there is no breach on this point.
Thanks Foggy,
I'll need to check the detail but I am fairly confident that the offer was made on the basis of this being full and final payment, in fact I believe my Father, who paid to settle, stipulated this quite clearly to Grant Thornton, so I don't think I am confused on this point as "Full and Final" means exactly that.
I agree, Mike. There should be a distinction between an IVA that runs it's natural course and one settled by a full and final. However, it appears that tyhe insolvency industry do not make that distinction and, as far as I am aware, this has not been tested in a court of law to set any precedent --- maybe a Barrister or Solicitor specialising in insolvency could cite such a precedent.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I think unless the total payment was for 100% of the debt plus fees that it is reasonable enough for the creditors to be entitled to any additional payments.
A F&F payment was made on my IVA in July 2012, forms about ppi came soon afterwards and we sent them back then. Not convinced we were misold but the process needs to be gone through. Must send back the new forms tomorrow and hope the CC comes sooner rather than later.
Paid F&F in July 2012 and received CC in July 2013
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Foggy
I agree, Mike. There should be a distinction between an IVA that runs it's natural course and one settled by a full and final. However, it appears that tyhe insolvency industry do not make that distinction and, as far as I am aware, this has not been tested in a court of law to set any precedent --- maybe a Barrister or Solicitor specialising in insolvency could cite such a precedent.
You are right there Foggy, these are two distinctly different scenarios and consequently should be treated as such, the "variation" as it was/is referred, was to make a one off payment in full and final settlement. In an IVA that's completes it's natural course, no variations apply and so all original terms and conditions remain in place at all times. So as we have discussed, the question is whether the variation overrides any prior agreement / terms, if it doesn't, then what was the point of entering the revised agreement, if the creditors or their representatives can then fall back on terms and conditions that were applicable prior to the variation.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles
In your case mike, is any PPI mis-selling claim deemed to be an asset of the arrangement?
The first knowledge I had of the PPI issue was after the "Full and Final" settlement figure had been agreed and paid when I was contacted by a company appointed by Grant Thornton to pursue this, I explained too them at that time that I had made a full and final payment and was simply waiting for my Certificate at which point they apologised for bothering me and hung up. Did I know that I had paid out on PPI, yes, did I fail to disclose this, no, did Blair Endersby or Grant Thornton contact me prior to the variation, no. From what you are saying Melanie, that a full and final settlement is futile as the Creditors have recourse at any time after acceptance to revert back to the original terms of the IVA and pursue me for monies they may deem that should be theirs, how can that be right, will they now come after me for any equity in my property, or if I win the lottery or receive an inheritance. I don't actually have an issue about the PPI in itself, but by accepting that they can now do this, I could leave myself open to all and any other attempts to obtain funds from me, from any source they consider they are entitled to. This is surely wrong. So at what point in time will the IVA ever be satisfied "full and final".
As I understand it, and I could be wrong, only "assets" deemed to have existed "prior" to the IVA can be captured by it after completion.
e.g. PPI existed before you took out the IVA so it was a pre-existing asset and as such could be captured later on even after a CC has been issued.
However, a lottery win (I wish) or an inheritance that occured AFTER the IVA has completed would not as it was not a pre-existing asset and it was not aquired during the term of the IVA.
This is from asking question from my own IP firm and how they have explained it to me.
Hope I've understood this correctly and hope this helps.
"Hope is the feeling you have that the feeling you have isn't permanent." - Jean Kerr
IVA approved Aug 2008 - 6 year term - last payment made 6 Oct 2014. CC received 14 Nov 2014.
I think there is a legal case to be fought here, I am certain that there are 1000's of people that have made full and final offers and will make them, that will not, like me, comprehend that full and final, is not full and final, effectively my house etc, items owned prior to the IVA are still potential assets of the creditors. So my understanding is now this, that my creditors can pursue me for equity in my property, should it exist at any point in time in the future that they deem appropriate, irrespective of the FACT that payments have been completed, their words, not mine.
