Frequently Asked Questions
Who is Grant Thornton?
We are the UK member of Grant Thornton International, one of the world's leading organisations of independently owned accounting and consulting firms, with around 520 offices in over 110 countries worldwide. In the United Kingdom we have over 5,000 staff across 30 different offices. For more information on Grant Thornton UK LLP please visit our website.
We have been offering voluntary arrangements to people with debt problems for over 15 years. We pride ourselves on a high quality professional service, delivering fair and feasible solutions tailor-made for an individual's circumstances. We have approximately 6,000 clients who we are assisting with an IVA. You may not have heard of us previously as we do not advertise, however, we are recommended by the free money advice sector and a number of debt counselling organisations. We maintain an excellent relationship with banks, lending institutions and money advisors who rely on our professional advice.
Why is my case being moved?
Debt Matters has taken a strategic decision to restructure. One of the major effects of this restructure is that Debt Matters Ltd will no longer be in a position to supervise your Arrangement. Debt Matters has therefore considered a number of alternative IVA providers and has passed your case to Grant Thornton. This will enable your IVA to continue uninterrupted and help you become debt free as soon as possible.
In what way will this transfer affect my IVA?
It will have a minimal impact on the IVA contract that you initially signed, or on the day to day operation of your IVA. Small changes are inevitable, for example, as Mark Allen or Gareth Neill are now the Supervisor of your arrangement, it will be their name that appears on all further documentation that you receive from Grant Thornton regarding your IVA.
What can I do if I want to stay with Debt Matters?
Unfortunately this is not an option. The High Court of Justice in Manchester has sanctioned the transfer of your case which will now be supervised by Mark Allen or Gareth Neill from Grant Thornton. If you do not wish to proceed with Grant Thornton, regrettably, your existing Arrangement will fail. This would mean that you would still be liable for your debts and would lose the legal protection provided by your IVA. If you are concerned that an IVA is no longer the best solution for you, please contact your new Grant Thornton case officer to discuss your options.
Will the transfer inconvenience me in any way?
We are confident that the transfer of your IVA to Grant Thornton will benefit you through the high level of support and service we provide. Our principal aim during this time is to ensure minimal disturbance to you and maintain the smooth operation of your IVA. We would like to thank you in advance for your cooperation and patience during this transfer process.
Will I have to pay any more?
No. You should continue making the payments you agreed with Debt Matters.
How much will it cost me to move?
Any administration fee is borne by the creditors. It will cost you nothing.
Do I need to change my payment arrangements?
No, we have put processes in place that mean you just continue making payments into the same account - we will ensure that your creditors receive the monies as before.
How will this affect the payments I have already made into my Arrangement?
Payments you have made so far will be distributed to creditors as planned.
Do my creditors know about the change?
Your creditors will be made aware of this change of supervisor. You do not need to contact them to let them know.
Will my IVA complete on the same date as originally proposed?
You will still make the same number of contributions, therefore, so long as you are up to date and continue to make payments on time, there is no reason why your Arrangement should be extended.
What if I have fallen behind with payments to my IVA?
If you have missed payments it is important that you contact your Grant Thornton case officer as soon as possible. It is likely that these can be added to future payments or to the end of your arrangement however we will need to put together a plan immediately. Missed payments can jeopardise your Arrangement but we will do everything we can to prevent this.
What impact will this change have on me and my IVA?
We are committed to help you complete your Arrangement to a successful conclusion, at the end of which you will be debt free. The only change as far as you are concerned is that you have a new contact and we will assist you throughout the term of your Arrangement.
When will the creditors' meeting (variation) take place?
The actual date has yet to be confirmed. Under the terms of your Arrangement we are obliged to give at least 28 days notice. As soon as the date has been confirmed, we will advise you.
What are the changes to the Terms and Conditions of my Arrangement?
The changes are outlined in the copy circular posted out to you with our welcome letter; they can also be viewed on our website. However, in summary, the changes to the Terms and Conditions are to ensure your Arrangement is more straightforward for us to administer and to give us increased flexibility for dealing with any changes in your circumstances or payment difficulties without breaking the Arrangement.
Click here to access your case review, which contains details of the modifications.
How do I agree to the modifications?
Click here to agree to the modifications.
Who pays for this meeting?
Any administration costs are borne by the creditors.
What are the data protection implications?
Under Data Protection legislation Debt Matters is entitled to pass your details to Grant Thornton to allow for the successful completion of your IVA. We will keep your information confidential and will not discuss your Arrangement other than to contact your creditors as agreed within the original terms of the IVA. If you would like further information regarding Data Protection legislation please inform your case officer who will then get back to you with the information you require.
What are the qualifications of the new Supervisors?
Mark Allen:
Licensed insolvency practitioner
JIEB
ACA-ICAI
Member of R3
Committee member of the Ulster Society of the Institute of Chartered Accountants in Ireland.
Gareth Neill:
Licensed insolvency practitioner
Masters in Accountancy
ACA (ICAEW)
Member of the Ulster Society of the Institute of Chartered Accountants in Ireland
If you have any further questions ?
Please have your Client Identification number to hand and
Telephone us on 0844 855 2166 or
Email us at info@gtuk.com quoting your Client Identification Number