www.iva.co.uk

I am just wondering if anyone else is having the same frustrating experience as me. I completed my IVA in July 2011 with RSM tenon. Despite several attempts to chase them up for a completion certificate this was not resolved before Grant Thornton contacted me to say they were now managing my case. I chased them up with a request for a speedy end to my case and was told that the process for closure was underway. This morning I have received a letter teling me that Creditfix LTD would be contacting me re PPI claims at GT request. I cannot believe that there is now going to be further delay to closing my case. Does anyone know what I can do to speed up the process/complain about the length of time this whole process is taking? I had assumed that 17 months after my last payment, my IVA would have been closed. I am guessing that I have no choice but to agree to Creditfix investigating PPI claim?
Thanks

Same letter today by GT, i have just put a full and final offer in, I was with tennon

Tenon started looking at my PPI quite a while ago -- I hope GT don't want to start all over again !!

I talked to GT about them last week and they said it would not affect the completion of my IVA.
They stated it would only add to any final monies paid to the creditors not extend the IVA.

You will make a final payment but you are unlikely to get a completion letter until the PPI claims have been sorted. This is the problem that all GT clients are having at the moment.

Why havn`t GT taken PayPlan`s lead and done a mass variation to allow completion with PPI cases still pending? I assumed all IP`s would have followed suit.

If the majority of the creditors agreed ( as it seems was the case) can the IP's and creditors not get together and propose an amendment to the protocol itself to incorporate the terms of this mass variation ?

If the PPI claim will extend my completion letter time then GT can go take a flying leap over the PPI.
Going to have a chat with them and will only agree to PPI claim once i have a completion letter then they wont get a selling on payment on it and it,ll hit them in pocket.
Its been a long 5 years and im not the sort of person to sit back and let people take the michael with paperwork.

viperboyz, welcome,
you often do not get a choice as they wont issue a completion cert until all assets have been explored including PPI claims.
It is better to just let them do it and get it over and done with as if you start delaying it, it will only make your certificate even more delayed as they will not back down as they are following the creditor orders to realise all assets.

Theres nothing to claim as its over 10yrs old they just scraping the barrel

Hello viperboyz. I dont think you can call the shots where your CC is concerned.

The fact you continue to be without it is doing you far more damage than I dare say GT could care about.

Little suggestion, just let GT carry on doing, in their own ridiculously slow, bureaucratic, irritating way, what they have to. Get your CC and then just forget about them.

Good luck

I have recently been involved in an exercise with the various regulatory bodies with regard to guidance to be issued to IPs about handling PPI claims. The draft I have seen makes it clear that once a client has fulfilled all of their obligations to the IVA - both in paying over their contributions/lump sums, and assisting with the PPI process, then Certificates of Due Completion can be issued. This does not mean that your case will then be able to be formally closed, but at least you will be released from your obligations.

Hi I asked GT for clarfication re timescales for completion and also what my obligations were until the completion certificate received. This was the response:

The closure process with Grant Thornton typically takes 6 months to complete. You entered closure with Grant Thornton on 16 October 2012 therefore this timeframe commences from this date.

While you case is progressing through closure you are still legally bound by its terms and conditions therefore any such windfall you receive, must be declared to Grant Thornton for example: Tax Rebates, inheritance, lottery wins. Upon receipt of your Final Report containing Certificate of Completion you will be released from this obligation.

PPI however is a Pre-IVA Approval Asset so any ongoing claim not finalised when your case completes, will be paid to the IVA and distributed at a later stage.

This will mean that by the time my completion certificate is issued my IVA will have been going on for nearly 7 years. It seems realy unfair that I am liable to pay any windfall into my IVA when originally I had been assured that the IVA would last for 5 years. Had I known this at the start I may have opted for bankrupcy as this would have been completed by now. I chose the IVA option as I wanted to repay what I could towards my debts and not having any assests an IVA was the best route to do this in the shortest timecale. However it feels as though this process is never ending and that the goal posts continue to be moved. Can anyone offer any advice as to why it takes 6 months to conclude the closure process as I am sure I have read on the forum that other companies manage this in a shorter timescale.

Hi -- yes, you are correct in that many companies complete the closure process in a far shorter time span that 6 months. As I have said before, GT seem to treay the 6 month window as the stipulated time period, rather than the MAXIMUM time period.

I also note that they count from when the IVA "reaches Closures" -- in your case this was some, 3 months AFTER your final payment ---

GT .. why does it take three months to pass a file from one department to another ?

I write on here regularly about the same experience of being left in limbo 19 months after last payment because of funds being allocated wrongly to creditors and not being able to sort it out and the PPI fiasco. It is an absolute disgrace as at the onset we were told after 5 years you would be debt free . We paid every payment on time and did everything asked of us and now we are still expected to obey the rules ,can't have a savings account etc through no fault of our own. It has been said on here to lay off GT as they are getting bad press etc but why should we just sit back and let these companies play with our lives.