Grant Thornton/EIC & PPI

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strummer65

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Post by strummer65 » Tue Feb 25, 2014 11:11 am
Hi Everyone, I am new to this so here is my story so far.
In May 2012 myself and my wife completed our final payment in our IVA, it had taken the full 5 years and we never missed a payment throughout, even though we had been passed from Baines & Ernst (B&E) to Blair Endersby (BE) to Grant Thornton (GT). About 3 months after completion we received letters from a company called EIC who act on behalf of GT asking us to sign the forms sent so they could pursue any outstanding PPI from the banks within our IVA stating basically that we would not receive our certificate of completion until we do so. Shortly after this we had an email from GT stating that we had overpaid our IVA by over £900 and that they could chase this up but it could take a very long time to do so, so did they want us to write it off! We told them we wanted them to actively pursue this overpayment no matter how long it took. About a month ago we received some cheques back from Barclays Bank for £5527 (this was PPI not the IVA overpayment). Now we have received a letter from EIC telling us that if we receive any correspondence off Barclays it should be sent on to GT immediately, meaning the cheques, however the money has been spent. Surely if we have paid all our required debt (which was £40,000) in 2012 we shouldn't be required to hand this over too?, especially as we have overpaid £900+ too? Basically they are holding back our certificate of completion until they get their grubby hands on the PPI and we finished our IVA nearly two years ago, I find this disgusting. Please can somebody advise us on this, many thanks for looking.
 
 

kazzafunk

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Post by kazzafunk » Tue Feb 25, 2014 2:30 pm
Hi strummer welcome.

When you say you repaid your debts and overpaid do you mean the total amount of credit entered into the IVA or the agreed dividend under the terms of the IVA?
Kazza

Please visit my blog:
http://kazzafunk.blogs.iva.co.uk/

IVA completed 21/03/2012
 
 

strummer65

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Post by strummer65 » Tue Feb 25, 2014 4:20 pm
Hi Kazza, thanks for the welcome and thanks for getting back to me so quickly. I meant to say that we paid back the agreed instalments over the 5 years, the cost of these instalments was meant to go down over time but they never did and they stayed at £570 a month all the way through the 5 years. The email we received off GT stated that "Under the final review we have noticed that you are owed a refund , due to overpayments into your IVA of £978. Unfortunately the system we inherited from Blair Endersby pays out money automatically to creditors, therefore we do not have no (sic) money in the account to issue you the refund, in order to retrieve this money back we would have to initiate a claw back from your creditors and in our experience this is a very long and difficult process as we have no control over how they respond, we need to ask you at this point if you would like to waive the full refund in order for us to progress with the closure of your case" So going back to your question, I would imagine that it would be the agreed dividend under the terms of the IVA. Thanks again for your help with this query. S65
 
 

Helpless121

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Post by Helpless121 » Tue Feb 25, 2014 5:22 pm
Hmmm, considering if you ever missed a payment or had PPI outstanding that they would want this money in the pot so why is it when they owe you, they want you to waive the refund like money grows on trees?
I'd stick to my guns and get back what is due to you and not sure why this should hold anything up.
It peeves me off that when its money owed to them, they threaten and demand but when they owe us, its a matter of us waiving it off and saying its ok, you keep it! Makes me so dam angry!
IVA completed!!! Looking forward to getting my life back! Stay positive and you'll get there in the end.
 
 

Foggy

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Post by Foggy » Tue Feb 25, 2014 5:30 pm
To be fair to GT, a similar thing happened with my payments and the account ended up with not enough in the pot for their variation fee to be paid, which they waived. I know from earlier posts here, clawing back money from the creditors is like searching for rocking horse pooh and can take many months -- with no fault of the IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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