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  1. mine 2day further to our recent correspondance where we advised you that our regulator fsa has identified that cartain morgage arrears fees and charges paid by you should be refunded because the fee or charge exceeded the actual cost to us. please find cheque for £119.88 in respect of this which should be banked within 3 months if you would like any further information please fist gmarfc.co.uk or call 0800030 4662 lines open 9-6 mon - fri yours sincerley gmac my reply 23nov Dear Sir/Madam Thank you for your letter dated 18th nov 2009 I am requesting a total breakdown how you have come to the figure of £119.88 for my refund on the FSA ruling . It does not correspond to the figures I have in possession . I DO NOT ACCEPT THIS PAYMENT AS I HAVE REQUESTED A DIFFERENT TOTAL IN MY LETTER DATED 1 NOV 2009. LETTER BEFORE ACTION . I GIVE YOU 14 DAYS TO RESPOND TO MY REQUEST OR IT WILL GIVE MY NO OPTION BUT TO FILE LEGAL ACTION FOR THE AMOUNT REQUESTED AND COMPENSATION . I trust this can be sorted out quite amicably and I look forward to your earliest response Thank-you for your help and co-operation in this matter
  2. Ok Just Rang Them Asked For A Total Breakdown How They Dreamed Of This Offer And Advised That I Am Not Accepting It . Acknowledged That My Letter Dated 03 Nov Was With Them . Just Emailed And Will Send Recorded Tommorrow Confirmation That I Do Not Accept And Also Letter Before Action Sent
  3. dont know what planet gmac are on but a letter today offering £119.88 taking the urine i think
  4. Thanks letter sent off asking for the charges and erc with a note that if i go to court i will also go for substantial damages , standard reply fri thank you wait four weeks will keep you posted
  5. subbing to this thread http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/229764-gmac-i-want-my.html can a mod join this thread together Im very intrested in trying to reclaim erp and If they have decided that the customers in arrears were not treated fairly does this mean the suspended possession order could be set aside? Any ideas?
  6. Hi arrears on the account £3911.44 excessive charges unpaid by direct debit 12x30 arrears fee 16 x £50 total = £1160 + £100 soli inst fee
  7. The fees and charges impacted are:- Charges for non-payment of the monthly mortgage payment by direct debit when the account was in arrears and no monthly mortgage payment was being made. A portion of the solicitor’s instruction fee (£39) that exceeded the actual cost. Early Repayment Charges applied to, arrears fees and charges. A flat rate of interest of 8% will be added to the amounts due to customers. No other fees or charges that may have been applied to your account are affected by this and no further refunds are due. Upon reading the fsa publication i believe i have been affected by failed to ensure that mortgage servicing staff had an adequate understanding of and implemented the requirement to treat customers fairly in handling its mortgage arrears and repossessions focussed on the collection of payment of arrears over a short period of time within fixed mandates, rather than always establishing a suitable arrangement based on the customer’s individual circumstances sometimes issued proceedings for repossession before all alternatives to repossession had been considered and accordingly, did not always use litigation only as a last resort Field counsellors were engaged by GMAC to visit customers to discuss their mortgage arrears and to consider available options. GMAC regularly reviewed mortgage account servicing, but outcomes in arrears and repossessions focussed on quantitative measurements, such as the average number of days to get to court order, and did not provide any qualitative assessments of performance or TCF. However, the guidance concentrated on information provision and establishing the reason for arrears in dealings with customers rather than a consideration of all appropriate arrears rehabilitation tools. Options available to GMAC included alterations to the payment date, repayment type, extension to the term of the mortgage, capitalisation of arrears or a switch to a different mortgage product. These were considered if requested by the customer, but would not be routinely offered as an option by GMAC. A review of training programmes for mortgage servicing staff indicated that, prior to changes introduced in November 2008, arrears resolution centred on collecting payments via an ATP, with insufficient assessment of the viability of the ATP or whether there were other options to resolve the arrears situation that would produce a better outcome for the customer. Applications for immediate repossession orders were frequently made by GMAC without evidence that all other viable options had been considered and that repossession was being used only as a last resort. calculation and imposition of the Early Repayment Charge on mortgage balances which included arrears fees and charges within that balance; and The above charges were unfair because they did not accurately reflect the additional administration work to the mortgage account caused by the fact that the customer was in arrears. 9 This led to a risk that the firm’s systems and controls were insufficient in relation to the handling and oversight of mortgage arrears to ensure the fair treatment of customers, and accordingly, the firm was in breach of Principle 3. 5.3. Principle 6 requires that a firm must pay due regard to the interests of its customers and treat them fairly. In doing so, firms should ensure that customers are treated fairly if they are in arrears with their mortgage by being flexible in considering a customer’s individual circumstances to ensure that the firm uses court action for repossession of a customer’s home only as a last resort In focussing mainly on the collection of payment of arrears rather than always considering what may be a more suitable arrangement based on the customer’s circumstances and in issuing proceedings for repossession before all alternatives to repossession had been considered, the firm failed to pay due regard to the interests of some of its customers In addition, GMAC did not treat its customers fairly as a result of applying certain charges and fees to customers’ accounts that were unfair as they did not accurately reflect the additional cost of administering an account in arrears in breach of MCOB 12.4.1R and 13.3.1 This resulted in some customers incurring excessive and unfair charges (i.e. charges that were not a reasonable estimate of the costs of the additional administration required as a result of the customer being in arrears) and accruing additional costs that could have been avoided had GMAC adopted a more flexible and fairer approach to arrears management tailored to the customer’s individual circumstances. In determining the appropriate sanction, the FSA has had regard to the seriousness of the contraventions, including the nature of the requirements breached, the number and duration of the breaches, and the number of customers who suffered financial loss the failings persisted over a significant period of time and impacted a large number of customers some of whom already had an adverse credit status; (2) a portion of GMAC’s lending was to the sub-prime sector and arrears rates in this sector are higher than those in the rest of the mortgage market; and I sold my home for £19k less than it was worth after i received a repossesion hearing . I Repaid 1 month before the erc was to be waived £3600 . I would like help to fight for my money back any help advice would be so much appreciatedhttp://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf I am one of the customers The FSA said a number of serious failings by GMAC-RFC were identified in relation to its dealings with customers experiencing arrears and repossessions. The investigation covered the period between October 31 2004 and November 30 2008. The failings included excessive and unfair charges for customers that did not reflect administration costs; proposing repayment plans that did not always consider a customer’s individual circumstances; and starting repossession proceedings before fully considering all the alternatives. I understand that i will be receiving Our regulator the Financial Services Authority (FSA) have identified that certain mortgage arrears fees and charges paid by current and previous mortgage account holders should be refunded because the fee or charge exceeded the actual cost to us. Certain mortgage arrears fees and charges will be refunded in full and others in part. Refunds will also include 8% interest.
  8. An idea Would you contact two local installers in your area and receive a free quotation for a boiler change for a true comparison of works . MUST BE AN A RATED CONDENSING BOILER LIKE FOR LIKE MARTIN YOUR PM BOX IS FULL
  9. You have received a new private message at The Consumer Forums from jan7777, entitled "help!". To read the original version, respond to, or delete this message, you must log in here: http://www.consumeractiongroup.co.uk/forum/private.php This is the message that was sent: *************** ello judi , ive got hands on experience with your situation and was browsing the internet when i came across your post.i literally signed up to the site in order to be able to give you my advice for wot its worth ... please email me wenever u get a minute.. lots of things i may be able to help u with...jan liverpool smells funny this one !!
  10. Unfortunatly this is not uncommon its not only the cost of the boiler but its the cost of the installation to strict regulations and no two propertys are the same , i have read that in a government review where this issue has been noted and unfortunatly there is only a certain amount of money "in the pot " to be spread around . I have known in some circumstances that help could be available via your local authority or agencies such as age concern that they could finance the remaining balance . I would advice you to contact them AND your local M.P as this issue needs to be investigated and perhaps Mr Brown will increase the funding . i will post if i can get any further info
  11. Have you received any other measure i.e cavity wall insulation and /or loft insulation in the package ?
  12. Warm Front makes homes warmer, healthier and more energy-efficient. The Warm Front Grant provides a package of insulation and heating improvements up to the value of £2,700 (or £4,000 if oil central heating is recommended). It is a Government-funded initiative and the scheme is managed by eaga. If you own your own home or rent it from a private landlord, you may be eligible for a grant under the Warm Front Scheme the Warm Front team Website
  13. Sign MailOnline's petition to free British teacher Gillian Gibbons | the Daily Mail
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