www.iva.co.uk

Intresting section on a variation letter GT want me to sign.

"In all cases, PPI compensation and unfair intrest claims are assets at the date on which you entered into your IVA. PPI or similar claims arising from mis-selling before you entered the arrangement were not disclosed to your creditors. In my opinion it is reasonable to treat such claims as having been including in your IVA as they was not specifically excluded from your IVA proposal. However even if that interpretation was incorrect then the non disclosure (or ommission) of such claims could constuite a breach of your IVA leading ultimately, to the termination of your IVA if the breach was not remedied by you.

To avoid any such doubt, we wish to ensure that PPI or similar claims will be treated as an asset of your arrangement, save for any payments of statutory intrest (net of costs) which you wil be able to keep as an incentive for co-operating with the claims Process"

So it seems you can keep intrest on ppi which i know several people asked about but its GT's opinion (not a legal one) that unless its specifically excluded anything is can be included even if you/they didnt know about it.
And if they are wrong about it your in trouble because you didnt know about it and make the usual threats you will breach your IVA.

GT........you leave me speechless......

if your proposal is asset defined then from what I understand they are not entitled to it anyway

4kids -- this is why they have included the threat about non-disclosure.

However, I doubt it would stand up in court, as you sign that the assets disclosed are those to the best of your knowledge. PPI wasn't an issue when many of these proposals were drafted -- and if the IP didn't think of it they can't expect the debtor to either!

This variation seeks to draw in PPI they weren't entitled to draw in initially --- if they were, ther would be no need for it.

Ironically im not claiming any PPI but still want me to sign it away and they still messing about with the VAT fiasco many sorted last year.
I was forced into having an IVA with these apparent cowboys a company i turned down when i decided to take my IVA out.
I cant in all Conscience sign the forms they sent me as they only benefit GT and no-one else and for that i will get my CC delayed yet again.

I understand all thart Foggy but they are still insisting that even is you have a defined assets clause they are entitled to it without the MVM all but 3 of our PPI claims have been finalised and they still want us to do the signing of the form to cover Vat

as I said in previous posts damned if you do and damned if you dont

There are many, many incongruities with this PPI / VAT farce and, unfortunately, the company which has been foisted upon us seems to be one of the main offenders.

Many of the larger firms have been, and are being, so slow on addressing this as to border on incompetence and this is being compounded by the regulatory bodies playing the proverbial ostrich.

wouldnt it have bee nice to have been given the option as to which firm we wanted when Tenon was sold ? I know for sure i would have never opted for GT

Good morning Viperboyz,

We refer to your post above for the avoidance of doubt, the content of the proposal you have received has, as you would expect, had the benefit of legal opinion.

Kind regards

Grant Thornton

But is officially in print as YOUR opinion not after taking legal advice and you are wanting me to sign a form giving you powers of PPI claims when ive already signed a form declaring i was not mis-sold PPI and will not be pursuing claims of PPI now or in the Future.
And if Your opinion is wrong then we fail our IVA because of something we knew nothing about and you did nothing about until the IVA was finished.
I dont trust Grant Thornton and your service has been scandalous everything ive ever been told by your customer services has proven to at best "unprofessional and obstructive" and at worst seemingly outright lies.

but where they specifically included?

Nope they wasnt currently re-reading mine in detail as my iva is Wilson phillips when done not Gt's

I am sure that GT will provide you with a copy of their detailed legal advice upon request, viperboyz. This may set your mind at rest that they are acting appropriately, but if you are in any doubt then you can always seek a legal opinion of your own. There are now many law firms specialising in PPI claims in insolvency proceedings.