Thread: Ge Money mortgage arrears - new help now needed

I have paid off all my GE arrears but still finding it difficult and have been advised by Shelter to see if I can change to an interest only period. I have previously asked GE Money about this and they declined.

Any advice?

Thanks so much

What reason did they give for declining?

Me and my hubby got into financial difficulties last year as he was out of work and I contacted them and I put it in writing that I wanted to go on interest only, it was sorted, no questions asked. It was for a 6 month period only though as thats all they seem to allow.

All the best hope you get sorted.

They just didnt respond to letters, I have sought advice from Shelter who have said to send recorded delivery and if they refuse to help to make a complaint to the Ombusdman.

Did it make a big difference in your payments?

Thanks

yeah made quite a difference, about £250 - £300 a month! but as I say it was only *allowed* for 6 months.

Why not give them a ring and verbally request it first and when they ask it be put in writing tell them that you have done and that you have had no response. Be firm with them, as they no doubt are with you if you are behind! I have wised up to this company now and will not take any abuse from them (I got £50 compensation from them last week after putting in an official complaint)
If you get no joy from the call then I would also recommend you send it recorded delivery, also mention that this is not the first time of requestingin your letter, telling them that you have verbally requested it as well as written in but never had a response.
Give them a couple of weeks and then go to the ombudsmen. They did mine almost immediately.

Help! Just spoke to GE Money and they informed me they do not offer the option of interest only any longer and withdrew from this option in June last year!!

Are they right??

Anyone???

I have checked with Shelter and GE money are in the directgov scheme as one of the lender who is willing to work with people who have arrears - its not what any of their staff say when I ring??? Very angry :?

GE Money have written to us and refused an interest only but given no reasons, they just mention debt helpline but thats not the issue, its just a large drop in income.

DITTO!

Both me and my wife where made redundant in November last year. We contacted GE in December asking for a `holiday payment` - they refused.

In January we then wrote back asking for an `interest only` payment - they again declined.

THis month we have written a third letter asking if they could extend the length of our mortage to reduce our payments . We are still to hear back about this but Im not holding my breath.

It seems GE do NOT want to help in any matter. We have sought advice from the CAB back in November and we have done everything they have asked us to do but GE are not willing to move an inch. Its like they want us to default so they can start repossession!

We are fortunate enough to have some redundancy money still left, but this will run out by mid - June and then we will be struggling to pay off our bills/debts etc.

We even asked in all of our letters to GE if they could help by doing anything - each time they have just said contact the CAB, national helplines etc etc. At the end of the day, these helplines arent going to reduce my mortgage payments - only GE can decide to do that!!

GE Money are amongst the nastiest of secured loan providers. Sometimes they give the impression of looking for the most effective way to make things worse for you, and then doing it. If you can in any way avoid going into arrears with them, then do so.

Each time I ring they ask me to explain why I am behind with payments, complete idiots as if anyone wants to be in this situation. Do they not log any customer details?

Still the same wont do anything to help

GE Money - after over 12 letters and many phone calls. I still cannot get a written reply.

I complained formally to Zoe Campion, mortage champion (believe it or not). No response

I wrote official complaint. No reply.

I resent the complaint and had a phone call from Joe Bateman asking what my problem was. I explained I only wanted an answer to my letter. He asked what answer I wanted. I said - to my questions.

He promised to reply by e-mail but nothing has been heard since.

The Financial Ombudsman has been involved since November.

So:
Complaint - no answer
Offical complaint about no answer - no answer
fos - no effect

What the hell can be done?

Ive just been on the DirectGov website and read about the HMS (Homeowner mortgage Support) scheme and lo-behold GE Money are just one of a few mortgage lenders who have `voiced their support` in this scheme!!

Yeh, thats all they have done!! Voiced their support but dont actually SUPPORT!

Looking at the criteria of applying for the HMS - me and my wife have done everything! We have kept GE informed of our circumstances, we have sought legal advice, we have sought financial advice, we have put forwards payment proposals, asked for holiday payments and interest only payments and GE Money have REFUSED THE LOT! So much for `supporting` their customers!

JOKERS - THE LOT OF THEM!

Has anyone found a way to get ANYWHERE with GE Money?

Had a reply to a letter sent to GE Money a month back:

"Thank you for your letter dated 26 February 2010 regarding the above mentioned account...

"WE are unable to extend the term on the above loan account.

"You currently have a non-FSA regulated mortgage contract with us. To make this type of change to the terms and conditions of the contract means it would need to be changed to a FSA regulated mortgage account.

"Unfortunately, at the moment we are not able to offer an amendment to this kind of non-FSA regulated existing mortgages"


What the hell does NON-FSA regulated mean!!! I thought ALL loan/mortgage providers had to be regulated? Does this mean GE Money can basically do what they want and get away with it (which it seems they are doing!).

Again though, in their letter, they do NOT offer any helpful advice on what we can do or what they can offer us...

We are getting very very annoyed with their lack of help.

This is from GE Money website:

"If you still find yourself in the difficult situation of not being able to make your mortgage repayments it is important you call us right away. We are committed to working with you, and we have a range of options that could make things easier depending on your circumstances. "


I nearly chocked on my cornflakes this morning when I read that!! lol

Despite complaining officially, involving Financial Ombudsman, Writing to Zoe Campion (mortgage Champion - yes, it's true!) and speaking to Joe Bateman - I STILL cannot get anything in writing!

would it be worth trying the FSA then?...or making out a clear and concise and specific SAR detailing exactly what you want........then if they fail you have them for that......

I do not know much about this but have seen people mention cpr31.16..think you have to tell the court you require this for pending court action....or have actually issued a calim ....

maybe some one who knows more about that could help......

Thanks for that.

I now have 3 clients who reportedly have lost, or nearly lost their home because of poor communication with GE Money

Yes, GE Money tell me that they are in the government scheme ... and ... Joe Bateman tells me he was in on the consultative government panel that set up mortgage Rescue.