26 Feb 2015

A question about : Grant Thornton and my IVA

My IVA was paid to Tenon fully paid up in May 2012. Then transfered to GT in the September following the take-over.
Since then I have had a number of arguments on the phone with them regarding them trying to change my terms and conditions of the IVA, mostly with them trying to claim back my PPI while taking a big chunk of it for themselves. I have told them I will renounce any claim I have to PPI before I will let them profit off my debt.
Today I recieved a letter saying they had be trying to contact me regarding changing my T's & C's. They could not contact me, I am in arrears, IVA might fail, bla bla bla. This is despite having a letter from them just a couple of weeks ago telling me I had paid up in full, and speaking to them on the phone again yesterday.
But its ok I spoken with one of their call centre people and they have sent a load of these letters out my mistake ! So no need to worry. This letter actually mentioned Tenon by name.
So I don't know what they're doing, if it was just a fishing exercise, a genuine mistake or if they are just trying to worry people who are holding out against them changing the T's and C's. Whichever it is Grant Thornton sink ever lower in my estimation.

Best answers:

  • Im still in an iva which has been moved to gt. I had the same phonecalls pestering me to change my terms so they could claim back ppi and thus keep 39% of it. they started ringing or should I say pestering at least 5 times a day even on a bank holiday. i told them i did not want to change and was basically told i would find it difficult when my iva ended as it would take longer to close. i really did not appreciate their threatening attitude to try and get more money off people when that money would be better off going to their debt. i didn't give in.
  • With hindsight I wish I'd gone BR. It would have been over by now. This is the route I will take if Grant Thornton do fail the IVA. As the proud owner of almost nothing apart from a Ј700 car I don't have much to lose.
    Further to their letter I have written to them asking them to confirm in writing that their letter was sent in error
  • Hi cardoman and ponderer,
    Your comments caught my attention when I googled 'Student loans in IVA Grant Thronton'. This reason I decided to search them on the Internet is because:-
    1. I filled in a survey with Step Change debt charity website and and referred to GT. I received a call from them to arrange a telephone appointment the first person I spoke with didn't know who step change were. This person had no clue why they were even ringing me. Naturally I felt uneasy.
    2. I had the telephone appointment today. I was advised that one problem I may face re the IVA is that the Student Loans Co. may not agree to the IVA and that may prevent me getting one. After the telephone appointment I googled this issue re my student loan and found several results quoting legislation saying that student loans no longer have to be included in IVAs since 6 April 2010.
    Needless to say I am not filled with confidence in GT so far and in fact feel nervous that anyone I consult for advice may just be wishing to make money from whatever insolvency route I take. Can either of you advise what company I should approach for help?
  • Go to the unbiased debt advice companies. there will be some details on this website and get a few ideas from them first then have a good think before making any decision.
  • I think IVA companies generally are entitled to any PPI claim that may materialise - particularly if you have not received your cert of completion. Plenty of advice on this subject here and on other forums.
    The only other option is to reclaim the PPI yourself, then hand the lot over, that way GT only take their standard 15% cut. If you don't cooperate, GT may fail your IVA, and you possibly face the prospect of bankruptcy, and another 6 Years of naff credit rating.
    Yet another IVA case being passed to GT by Stepchange - not the impartial charity that they make out to be eh?.
    In my experience, I'm afraid with IVA's there is no such thing as 'unbiased debt advice companies'. Stepchange and the other debt 'charities' are sponsored by the creditors, so more often than not will suggest a DMP, thus preserving their interests. If they do suggest an IVA, they seem to refer you to a private company: Used to be PayPlan, but now GT seem to be in favour.
    It has even been reported that some CAB offices work 'in partnership' with GT.
    No issue then with choosing a private company of your own - providing you have researched IVA's and are certain that it the right route for you. Bear in mind though, that IVA's are profitable, so don't be surprised if these companies give you the hard sell. Just don't go with one that is an up-front fee charger. Plenty out there that are not.
    If you have no significant assets to protect: Property, expensive car etc. Definitely look at bankruptcy.
    Best of luck to all of you.
  • Needless to say after writing to them I have neither heard from them by mail or telephone since.
  • ...You might be better off seeking legal advice after you have first tried the formal complaints procedure.
    If GT are not helpful in advising you how to do this, there is good information on the 'insolvency service' website on how to complain about your IP.
    Good luck.
  • !!!!Hello!I have just come across this forum whilst doing research on Grant Thornton and its been loads of help already but I had an IVA with a company called money dept and credit. I completed my IVA Aug 2012, 14 months ago and I have a completion certificate to prove it. This month I have been receiving calls daily from Grant Thornton saying that they have taken over from money dept and credit and that my IVA is still not concluded as PPI reclaim was never done. And it doesn't matter what I say to them about the completion paper work I have they will not take no for an answer.!As far as Im concerned if I was to collect PPI money it should now be mine, this company had nothing to do with my IVA I've never delt with them as they bought the company after my IVA was completed. Im at my witts end this was such a stressful time of my life I thought it was all over and done with some time ago and now its a daily battle again.!Does any one know if they can make me claim and pay it to them. ?
    Kim
  • Hi Kimbers,
    I see you have posted this enquiry on another IVA forum, where you should get a view on this from an expert.
    Congratulations on completing your IVA (presumably you got your completion paperwork from MDC, BEFORE they got taken over by GT).
    As far as I'm concerned, once you have your completion cert. that's it.
    Tell GT to take a long walk of a short pier.
    Or at least take the names of the people harassing you, and be sure to inform them that they will be mentioned personally in your formal complaint to GT's Regulators.
    Surely they cannot retrospectively re-open an IVA, especially one administered AND closed by another company.
    This is typical of the complaints I have read about GT (I believe they are the only company attempting to reclaim PPI from closed cases - and you are not the only former MDC customer with problems).
  • Hi
    Sorry if I put my comment in the wrong place but thanks your reply was quite helpful
    Thank you
  • I too completed by IVA with MDC last year. I received my completion certificate and a few months later I noticed that my creditors had updated my credit file to show that the balances were 'settled'. I spoke to one of my creditors on the phone who confirmed that they had received notification of the completion.
    However, since July this year (when Grant Thornton took over from MDC) I have been getting calls, letters and forms to sign and return. I haven't signed anything as the new agreement talks about continuing to make payments etc As I don't really understand what is going on, I thought it best not to sign anything!
    I have got no where fast with Grant Thornton - through telephone calls, emails, letters. The latest letter says that my case was not closed completely due to a VAT tribunal decision. An email that I received last week said that my case was not closed due to a PPI issue. So confusing and frustrating! My concern is that they keep saying my case was not closed however I have received my certificate and, as I said earlier, my creditors have updated my credit file and I have also got confirmation on the phone. My biggest concern is that, when Grant Thornton took over in July and I received the first correspondence from them, the Court data for my IVA coincidentally reappeared on my credit file!!!! Grant Thornton say they have no control over my credit file however it seems a bit coincidental to me???
    I really am fed up with this company now. I cannot get a straight answer from anyone. Letters and emails are always replied to by different people using generic jargon, not specific to my case.
    The latest letter mentions PPI claims being a contingent asset which I must declare. I have no intention of making any PPI claim as I know that I never took out any PPI. In addition to this, MDC made a claim on my behalf and, as far as I am aware, nothing was ever recovered.
    Please someone advise me on how to deal with this company!!!!!
    Thanks
    FN
  • Hi FN
    I am in exactly the same boat all I want is this company to stop harassing me they are nothing to do with me or my IVA and I need them to stop calling, its making me quite ill now.
    I just don't know how to make them stop. Apart from changing my telephone number which is fast becoming an option.
    It is however a slight relief to know its not just me so thanks for coming forward.
    K
  • I have two payments to go on my IVA. I caved into the GT getting me to claim PPI. Not a problem as I'm sure I never had any.
    But I get the feeling they will not let go once I have made my final payment. They are not easy to deal with and are slow to reply to emails. What can I do to make sure come December that's it.. Also on my final income\expenditure statement can I include work I had done on the house at a cost of Ј1350?
    Thanks
  • They've been back on to me about ppi.
    I have told them I would rather sign it off to the credit card company's than give it to them or their scummy claims firm (yes i did use that word). In any case once they claim their 15% and the claims firm claim their whatever the hell they get there won't be much left even if there was any in the first place.
    Strangely despite him saying he would put the paperwork in the post I've had nothing. This was from Scott GT's customer advisor.
  • I had a IVA with Money Debt and Credit and it was completed in June 2013. I then received a letter from Grant Thorton saying it has been given to them.
    I then received a phone call/letter telling me to i have to do PPI with them and then today i received a letter saying i will have to pay for at least another year as because after 4 years i coudn't remortgage and MDC said that it is fine and i can continue paying my payment and i will still complete in june 2013, they are now saying I need to pay for another year as my creditors are expecting the remortgage.
    this is in my proposal:
    "I propose to exclude the property from the Arrangement save that I will introduce the sum of Ј14,441, which is the maximum loan to value that I can re-mortgage for in year 4 of the arrangement in order to augment my monthly contributions."
    Can Grant Thorton do this seeing as my term was up in june 2013 and i have paid it every monthy.
    julie
  • Hi Margaret,
    It sounds like you have a pre-2010 protocol IVA. You specifically pledged to release Ј14,441 by way of remortgage/equity release but, clearly being unable to remortgage, MDC - at their discretion, allowed you to continue with another Year's payments instead.
    Whilst I understand that you have finished your payments, unless you have received your completion certificate, GT MAY be able to hold you to this Ј14,441 payment (presumably less what you paid to MDC over that extra 12 months).
    Might be worth you having a chat with you local CAB, or seeking legal opinion on this one.
    Good luck.
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