Grant Thornton charging us extra fees???

[jasperyogi]

My husband has just come off the phone to Grant Thornton, who just yesterday said we would need to pay "35,000 on the nose to pay off our IVA to 100p in the pound including fees and statutory interest" (their exact words) But today they are saying that the amount may be higher due to us signing an agreement that they can charge extra fees when they took over our case from B&E. But, we have never had any agreement from them to sign. The first we heard our case was being taken over was an introduction letter from Grant thornton. Then we had a letter from them about our review which we have completed a few months ago. Does anyone know what this means please? have we now got to pay more on top of the fees agreed when our IVA was set up despite not signing anything? It was also explained that they would need a variation meeting to get creditors to agree to 100p in the pound early. Which would mean we will probably have to pay for that too. At this rate we will be living in a cardboard box!

sorry is this appears in another section also, I think I posted it in the wrong place earlier

[plasticdaft]

Any f and f offer put to creditors does involve the costs of another meeting. I cant see why GT would be upping any charges agreed at the start of the IVA. You shouldnt be paying extra as they have taken over the account knowing what was pre-agreed.

Karol from GT posts so expect a reply from her soon.

Paul

[jasperyogi]

Thanks for your help Paul. I agree we shouldn't be paying more but that is what my husband was told. Also if we are paying 100p in the pound, plus fees, plus interest do they still have a variation meeting, cant see any of the creditors saying no to double the dividend and full payment

[plasticdaft]

I dont see that you would even need to return 100p in the pound. But even if you were a meeting is still required.

Paul

[jasperyogi]

Hubby may be made redundant under the Armed forces redundancies tomorrow, just trying to ascertain where we stand with the IVA if the worst happens. Because the amount of redundancy pay exceeds the 100p in the pound figure I think they would say no to anything less?

[ginger3232]

Jasperyogi - i fully agree with Paul - it sound as if despite speaking to GT direct, you still have a few questions needing answers.

Why dont you email Karol direct - that way you can add your case number and IVA forum in the subject line - that way you can ask the questions you need to ask directly and hopefully at the end you be better informed about about the situation

[plasticdaft]

Ahh I see. If hubby gets made redundant when will his exit date be??

Your IP should be allowing money off the redundancy for deposits for rented accomodation,moving costs etc,and living expenses until new employment is found.

If at the end of all that there is enough to propose a F&F then great(even if it means less than 100p/£ being offered).

Paul

[jasperyogi]

Thanks so much for your replies, we thought everything had been covered with them yesterday, they even gave us all the figures etc and told us the amount needed to repay everythingSo we were happy knowing where we stood. But today they rang and mentioned the extra fees etc. Will give up until all is revealed tomorrow I think and worry about it all then.
Thanks for your help everyone. Have a lovely day xx

[jasperyogi]

Sorry Paul, forgot to say his exist date will be march 31st, so plenty of time to sort things out. I am just a worrier when it comes to knowing what our plans are under each scenario, must learn to take each day as it comes x

[MelanieGiles]

I am not sure that I understand why there needs to be a variaton of terms if you are going to pay 100p in the £ early, unless there is a requirement for you to pay statutory interest in your case. I hope Karol from GT will spot this post and be able to reply to you directly.

[jasperyogi]

Hi melanie,
Thank you for your reply. We couldn't really understand the requirement for a variation meeting when paying the full amount either. When we were told that the full amount owed was 35,000 we checked with them whether this included fees and interest and was told a definate yes. We will know today the outcome of the redundancy announcements so will investigate further when and if we need too. We have both been awake since 4.30 this morning and our stomach feel like washing machines, Mixed emotions both ways really

[KAYKAY]

Oh I do feel for you.. you were my first thought when watching the news this morning, and they were talking of RAF redundancies in our local area. I hope all goes well. You do (although you may not feel like it) appear to be in control from the posts I have read, as you seem to be considering all possible outcomes and are preparing for each eventuality. I hope the news you get is the news that you want, and wish you luck for the future whatever the outcome.

[jasperyogi]

Thanks so much kaykay.
To be honest we are at a point where we dont know what the best outcome of today would be. We are looking at that response positively though, because at least we know either way we will get through it.
If he gets redundancy then its positive in that our children will never have that look of total despair on their faces again when he leaves on a 4 months detachment (that alone is making me pray that he is made redundant) on the other hand we know there will be a few hills to climb in regards of rentals and job searches.
So we are truely 50/50 at the moment. There is also the sentimental feeling of leaving. We have travelled all over the UK during his career and made some wonderful lifelong friends, so there would be a sad element of that chapter in our lives closing.
No matter the outcome there will be moments of smiles and moments of OMG! Just hope he gets told soon I haven't got many nails left hee hee. Thanks to everyone for your help, support and guidance over the last few days xx

[kallis3]

Thinking of you. Let us know the outcome.

[jasperyogi]

Thanks Jan will do xxx