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hope someone can offer some advice on my situation with GMAC.
Three years ago I bought a used car on finance with GMAC, I have one final payment of £89 to make, which clears the initial loan, but they are now slapping on £551 of late fees (£15 per letter) and two default notice charges (£30 per warning and £30 when issued). This total figure also includes nearly £300 of CA fees, which i presume is the credit agency that came to see me last year when I missed a few payments after I lost my job.
I didn't pay the cedit agency anything or agreed anything, I just went back to GMAC and agreed a higher monthly paymrnt plan, to which they agreed. Lucily I was back in work at this time.
My question is do I have to pay all these fees or are they disputable?
I was told today that the account won't be closed until all the fees are paid.
They are most certainly penalty charges, you need to request information on these charges via an SAR, if you have a copy of your loan agreement you could up-load it after removing any personal details.
Firstly, I've had a look at the agreement and that is perfectly OK - it has all the prescribed terms and signatures (provided it has your signature in the bottom left-hand box).
THe charges, as Andy has said, are all penalty charges and therefore unlawful except, posssibly, the CA fees. However, if these represent a charge for collectoin activities, they are not penalties as such but and contrary to the OFT guidelines on debt collection.
In the first instance, therefore, you should put in a claim for the whole lot.
Steven
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GE Money Won unconditionally May 2007 NatWest Won unconditionally August 2007 BrighthouseWon unconditionally August 2007 GoldfishWon unconditionally April 2008 (including CI on the basis of Sempra) Clydesdale Financial Services (now BPF) Won unconditionally February 2008
Any opinions are without prejudice & without liability. Do not take any legal action on my advice alone. Almost everything I know concerning the law I learned from this site.
Please note, I will not give advice by PM. Please send a link to your thread and I will do my best to answer there.
Yeah I did presume all would be in order with the agreement. Just noticed that I have also been paying PPI, don't remember agreeing to that??? You can see it on the agreement. Might be able to get that back???
I have the original part of the PPI agreement with all the small print, which shows all the different covers and there is an acceptance signature here for the PPI - without my signature! Think it's quite well hidden on the main agreement too....
Now that the loan is paid off, is the HP agreement finished or does it continue until the penalties are paid? Whay I mean is, if I dispute them can they still recover the car? I've just made the last payment on the agreement and it's only this £551 of charges that is now hanging over me.
Once you have paid more than a third of the agreement, they can only reposses if they have court order. If they tried to get one, you could counter claim for the charges (and mis-sold PPI if that is legitimate).
I stick with my advice in post #5 - put in a claim for all the charges.
On the PPI, the only way to reclaim it is if you can show it was mis-sold (not just that you can't rememebr agreeing to it). Evidence for mis-selling are things like if at the time you were unemployed or on long-term sick - circumstances where you would not have been able to claim on the policy.
Steven
Using CAG Toolbar will generate much needed income - Download Here
Confused by Simple Interest? Confounded by Compound Interest? Read my Interest Tutorial
My Wins
GE Money Won unconditionally May 2007 NatWest Won unconditionally August 2007 BrighthouseWon unconditionally August 2007 GoldfishWon unconditionally April 2008 (including CI on the basis of Sempra) Clydesdale Financial Services (now BPF) Won unconditionally February 2008
Any opinions are without prejudice & without liability. Do not take any legal action on my advice alone. Almost everything I know concerning the law I learned from this site.
Please note, I will not give advice by PM. Please send a link to your thread and I will do my best to answer there.
HP Loan and Charges
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