What firms /IPs currently issue IVA completion certificate while PPI claims are pending ?

[Philip.gc]

What firms /IPs currently allow the issue of IVA “Completion Certificatesâ€￾ while PPI claims are pending?

This is vital information that should be made available to all considering taking out an IVA or even changing their IVA provider. The reason being that the PPI claims can take over two years for a successful claim to be processed. This delay can and does cause incredible stress especially for those who have successfully completed their IVA and eagerly await their “Certificate of Closureâ€￾ but have to experience the lengthy frustration of compulsory PPI claims before the CC is issued.

[Foggy]

You are correct, Philip, in that the current closure delays are an immense strain on those who have struggled to get that far.

However, I would point out (rather hopefully) that the PPI issue is a transient one and many starting now and making their choice will not have to face this when the time comes. That said the way this issue has been dealt with by individual firms is an indication of how they, themselves, deal with life's emergencies.

Also, they way the closures have been affected have no real bearing on how the company operates the day to day running of an IVA over the term.

My understanding so far, in no particular order, those now closing:

Payplan (First to bring about a mass variation)
Cleardebt (First to offer guidance to other firms wishing to close early)
Melanie Giles (One of the first to grasp this problem and deal with it)
Freeman Jones (Don't know how, but seem unnaffected)

Anybody else add to the list ?

GT, the current "star" of closure delays -- are rumoured to be awaiting a mass variation. I might add that, before Cleardebt's action. Cleardebt were the target -- GT have simply taken over from them. When GT start closing again I am sure another target will be offered up!

[Philip.gc]

Thanks Foggy for your quick and informative response. Much appreciated.

Congratulatios to :

Payplan)

Cleardebt

Melanie Giles

Freeman Jones

who have made the ethical, responsible and necessary decision to allow IVA completion and the issue of the Certificate of Closure, without having to wait for the lengthy PPI claim to be completed.

I have also been reliably informed that GRANT THORNTON is also likely to follow this vital and important course of action following a Mass Variation being held March 2013. Pity this decision couldn’t have occurred sooner and helped to prevent some of the incredible frustration and stress caused by the lengthy delays with closure. Better late than never I suppose.

It Would Really Appear That There Is Light At The End Of The Tunnel

[isseymyake]

I am just in the early stages of starting a PPI claim in the hope by the time my IVA is up in 33 months it will have all been paid out (if due) into the IVA pot in the hope my CC with follow asap after the final payment. Just for the record I am not with Melanie Giles in my IVA (wish I was) but will be dealing with a PPI company used by her company so I can be sure it will be a repuatable one as you can't be to sure these days there are so many.

[IVA Victim12345]

Hi Philip, where did you hear about the March variation meeting? I haven't heard that and I'm with GT, nor have I received any paperwork or phonecall from their PPI company either. But they did say that's what they were planning.

[Heretoday]

It is a fair question to ask which companies have held up completion!

Whilst the issues at hand now may not be relevant in 5 years time, it is important to name and shame those who have performed abysmally and also to promote those who have performed well!

[MelanieGiles]

In essence, there is nothing to stop IPs closing cases due to PPI issues - the Supervisor's powers to collect in assets belonging to the IVA can actually survive the lifespan of the IVA itself, leaving me wondering why the need for formal assignments or variation meetings at all - unless there are specific resolutions which IPs seek with the agreement of their clients.

[Philip.gc]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by IVA Victim12345

Hi Philip, where did you hear about the March variation meeting? I haven't heard that and I'm with GT, nor have I received any paperwork or phonecall from their PPI company either. But they did say that's what they were planning.

Informed by a GT employee of the March 2013 Mass Variation Meeting concerning IVA Completion Certificates being issued while PPIs are still pending.

I would consider contacting GT to get the ball rolling concerning your PPI claims which GT Legal Team state is now compulsory in the closure of an IVA arrangement.
This action should hopefully prevent a lengthy delay with the issue of CC.

If you need further advice try contacting Karol Wilson the Customer Services' Manager at Grant Thornton who operates on the Forum and is very helpful.

http://www.iva.co.uk/forum/pop_profile. ... y&id=17532

OR EMAIL :ivacustomerservices@uk.gt.com and put IVA Forum in the subject line.

[Philip.gc]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles

In essence, there is nothing to stop IPs closing cases due to PPI issues - the Supervisor's powers to collect in assets belonging to the IVA can actually survive the lifespan of the IVA itself, leaving me wondering why the need for formal assignments or variation meetings at all - unless there are specific resolutions which IPs seek with the agreement of their clients.

Hi Melanie,

Firstly may I congratulate you on being one of the few (apparently only four at present) IPs /Firms :

Payplan)

Cleardebt

Melanie Giles

Freeman Jones

who allow IVA closure and the issue of the Certificate of Closure with PPIs still pending.

You state that in essence, there is nothing to stop IPs closing cases due to PPI issues, so why do they delay things pending PPI investigations and cause so much additional stress and anxiety often when the IVA payments have been completed?

When the IVA payments have been made over approximately a 5 year period, the last thing you want is a delay with the issue of the Certificate of Closure causing unnecessary consternation.

Also could you clarify/explain your statement, that the Supervisor's powers to collect in assets belonging to the IVA can actually survive the lifespan of the IVA itself?

Thanks

Regards
Philip

[Kelly.23]

I think w3 issues cc without waiting for ppi, we completed with them in January and they said they will be sending the certificate and will deal with the ppi after. Spoke to them this week and they said the cc was being posted Wednesday so fingers crossed i will have it tomorrow or Monday.

[IVA Victim12345]

Hi Kelly.
Who are you with for IVA? Did you have to complete any PPI forms?

[MelanieGiles]

This issue has been pretty fluid over the last year or so with perhaps some firms only finding clarity recently. The structure of my own portfolio, and the terms and conditions of my own IVAs, has perhaps made things a little easier for me to address closures than in other firms - but it is difficult to criticise other firms when even our regulators have not produced the necessary guidance at the point of posting.

[Kelly.23]

We were with w3, we got some forms to sign regarding ppi a week after our last payment which we returned and they said if we sign them and return them they could still process our certificate for us, the next few days will tell as apparently our certificate is in the post.

[Philip.gc]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Kelly.23

We were with w3, we got some forms to sign regarding ppi a week after our last payment which we returned and they said if we sign them and return them they could still process our certificate for us, the next few days will tell as apparently our certificate is in the post.

Hi Kelly,

Good to hear of another IP (w3) allowing closure of your IVA with PPI still pending. It must be good to have a IP who gets on with the job of closure without the unnecessary delays(can be up to two years if the FOS is involved) being caused as a result of PPIs.

Well done to you both for completing your IVA.

Best wishes with your financial future.

Congratulatios also to :

W3

PAYPLAN

CLEARDEBT

MELANIE GILES

FREEMAN JONES

GRANT THORNTON (PENDING)

who have made the ethical, responsible and necessary decision to allow IVA completion and the issue of the Certificate of Closure, without having to wait for the lengthy PPI claim to be completed.