Have a read of Section 56 and Section 75 of the Consumer Credit Act 1974.

Thank you all for your replies,they have been extremely helpful. Please could someone ask Dougal to clear his inbox as I would like to send him a message but can't get through.

Sorry for not replying earlier. My turn for double shifts. Do not have dd or standing order on account. Ring GE and pay over phone using card. They say the process of paying money throughout the month throws their accounting system out!

I am in process of claiming PPI and penalty charges on account.

As I said, GE have ignored all previous efforts to get them to remove the PPI from the loan, so I thought that asking them again, by sending an lba and giving them 14 days to act would be the way to go.

Paying a mortgage (no arrears) and the loan is putting a great strain on the wallet.

I feel that tugging on their purse strings for a while could bring a little light relief.

Hello ssparks 2003, this is the only agreement that I have, and these are the only terms.

Hope you can see it now, as I am not very pdf savvy!

Story so far:-

This is the agreement for a 2004 secured loan from IGroup, taken over by G E Money.

As you can see loan for £15,000 plus single upfront payment £2400 PPI.

PPI for 5 years(finished in 2009) Loan for 90 months (finished Jan 2012)

but still limping along. In August 2013 GE Money tried for possession for the third time, but the judge issued a Time Order which is being paid at £538 per month.

Sent a SAR last August and discovered mis-sold PPI.

Mis-sold, as box pre-ticked for PPI when the above agreement was sent by GE Money by post, for signing.

Back in 2004 had no idea what PPI was, thought it 'something to do with loan',that's all. Also self-employed, so would have been useless anyway.

As I have already said,Time Order being paid by 8th of every month. Have kept up re payments faithfully since then,but, have been paying weekly IYSWIM, so that the by 8th of every month full amount has been paid. GE Money now saying that repayments cannot be made like that and am now technically in arrears. What The @@@@!!! Have totally had enough now.

Am going to claim back PPI and penalty charges on loan, and believe me there lots of them.

PPI first.

Am going after GE Money for this. Have asked them twice to remove PPI and first response by them was go after Ocean Finance. Found they had dissappeared etc,etc. Then wrote to Cigna, the underwriters, who replied saying that,quote"The sale of this policy was in fact concluded by GE's subsidiary IGroup Services Ltd who were responsible for arranging sale through a broker of their choice.. . . . . . .any further information you require is held ONLY with G E Money Ltd including the transcript of the sale, all signed documentation by the customer and any information regarding charges, rebates, premiums and interest due on the loan. Please note that any request for a refund of premiums MUST be dealt with by G E Money Ltd . . . "

Second time complained to GE about PPI they 'investigated' and concluded that there was nothing wrong with insurance, and told me to go away,final response blah blah.

I have repeatedly asked for the original/legible copy of the agreement and they keep sending me copies of the above document. Have asked in the SAR,Section 77-99 CCA 1974 and under Civil Procedure Rules (pre action protocols and Part 31.16) which they have ignored.

I looked at the agreement/application form that I have and after reading PT 2537's multiple agreement thread, I think this is what I have here.

If so, how would you advise me to proceed? Claim back PPI and charges and then go for the agreement, assuming that I am right.

Also, I would like to ask your opinions about the brokers role in all this. GE themselves told me to chase Ocean Finance. On all the paperwork I have there is no broker's fee anywhere. Is this because they would have done it inhouse, ie between IGroup and G E Money and no broker used, in which case they lied again. Or would there have been a broker who arranged the PPI for no charge!!!!!

I hope you will help me. Thank you. Munitawks

Thank you both for your replies.Getting file re-done now.

Hello All,

Please could I have your valued opinions on this credit agreement. Would you say that it is a multiple agreement or not?

Hello to everyone on this wonderful site.

I first posted in July in a blue funk, as G E Money were going for repossession of my son's house on an 2006 suspended warrant when my son owed £600 in arrears.The situation was complicated by the fact that his loan finished in 2011,although G E Money continue to take his monthly payments up until the present time,so there was no paper work to 'hang' anything on. Thanks to the advice given on CAG a defence was prepared and the judge granted a Time Order. (Incidentally, four independant local solicitors, supposedly experts in Consumer Credit and Housing Law were approached to take the case, and all declined.)

My son works in the Construction Industry, is self employed and has no time to prepare a case against G E Money, so has asked me to do it for him.

What I want to do is reclaim the charges on his secured loan, but I need your advice.

1.Secured loan taken out in July 2004. Amount was £17,400, comprising of £15,000 for loan and £2,400 for PPI, discovered when I sent SAR.

2. Loan was for 90 months ie 7 years 6 months with Igroup

3. PPI was for 60 months ie 5 years.

4. PPI was apparently brokered by Ocean finance. Have chased the PPI through Ocean finance,Mr P Newey, Ocean Finance and Mortgages Ltd and Cigna the underwriters, Have been told by Ombudsmans Office that PPI was unregulated and in their experience of Ocean Finance unrecoverable.

Therefore I wish to persue G E Money, who took over the loan almost immediately.

My son has had times of hardship over the years and of course G E Money have taken advantage.

5. The amount paid on the loan over the past 9 years is £23,600 approx and G E Money still want £21,000 approx.

6. He has a mortgage on his home with Northern Rock and has no arrears.

Is it feasible for me to go after all unreasonable charges on the loan and lump the PPI in with them? Afterall, he is still paying for the PPI and G E Money are receiving the payment.

All comments will be gratefully received. Thank you for reading.

pdf formatt

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Will be scanning paper work shortly. Using spreadsheet have estimated that G E Money owe £20,000 in unfair charges etc,plus mis-sold PPI. Am worried about claiming the whole amount in one lump as it will be fast track and could lose, and be responsible for their costs. Is it possible to do a £5,000 claim with rest to follow, or is that a silly question.?

DX, Thank you for your reply. Will copy documents asap.

Thank you very much.

Some help needed PLEASE. Received SAR information from GE Money. There was a mis-sold PPI on loan in 2004. Single payment of £2,400 for PPI built into loan. ie £15,000.00 for loan plus £2,400.00 PPI. Now here is where I need some advice quickly, because WANT to start an action against company soonest.

PPI was for five years, finished July 8th 2009. Loan finished July 8th 2011, but to date still paying GE Money £300 per month for loan and £50 off arrears.

How is it possible to still be paying installments for PPI when it finished four years ago, and although loan finished and G E Money did not restructure payment, the loan cannot be 'dead' as GE still adding fees and compound interest to whole sum.

As stated previously in thread son has paid £21,500 on £17,400.00 since 2004, but GE say £17.685 still owing, and now they want the house too.

Still waiting for bailiffs warrent, but I am sure will receive it any time now, which only gives 10-14 days to act. Incidentally do not think a Time Order will cut it as loan has finished, so no current paper work to 'hang' the order on.

Please can someone please advise? Thank you for reading.

Would like to thank everyone who has already replied to my thread, because without you, would not have known about sending a SAR and mis-sold PPI.

As soon as there is some spare cash rest assured will be making a good donation to this website,because without you what on earth would ordinary folk do?

Thank you for your replies. As of now (Thursday eve) we have not had the bailiff's warrant but son spoke to GE Money who said it was being processed for serving today.

We are going for a Time Order but wondered if making sure the judge was aware that the loan figure is in dispute would help the case.

We know that GE Money have 40 days in which to reply to SAR, but we will be in court before then as awaiting the bailiff's warrant at any moment.

Should we request a CPR 31.14?

Are there any other documents we should be requesting to add to our defense? Also, GE Money are saying that they want £10,000 to stop the repossession warrant, and to up the repayments before they would even think of restructuring.

Of course that figure is impossible to come up with, and they are adamant that they will not stop the warrant for less. With the total of the loan in dispute because of the charges,which they declare are 'legal', can we use the disputed figures as part of our defense on N244?

We would really be so grateful for any more advice.

Have just discovered that the loan was regulated by the Consumer Credit act. Son rang GE and was told that on the original loan of £17,400.00 taken out in July 2004 he has paid £21,974.27 and still owes £17,395.56. I would be grateful for any comments.

Just found out GE Money is regulated by the Consumer Credit Act

Dx, Did not know !!!!!!!!!!! before coming to this forum.

What I have discovered about GE Money is absolutely scandalous.

Why have they not been legally sanctioned and their licences revoked?

I am in the process of writing to the OFT, FCA and Damon Gibbons at Centre for Responsible Credit.

I have e-mailed the Guardian money section with queries and a summary of son's case.

Have spoken to Cab (useless),several 'debt' action persons who want money upfront before 'helping' Yeah right.

These credit companies are not interested in what is causing borrowers problems,

and have no interest in providing the most appropriate and cost effective financing solutions.

It is as if debtors have no human rights.

Hmm, now there's a thought.

Maybe those kindly Law Lords in Belgium can help!

Incidentally, Son has written to G E Money 3 times over 2 years asking to restructure loan, they do not have any knowledge of letters.

Their filing system must be shocking, as we have file copies here.

Sorry yes, I do mean a Time Order. Still try to find out if loan protected by Consumer Credit Act.

Three more questions for you knowledgeable people.

What is a Time Out?

Can I apply to the First Tier Tribunal (Consumer Credit) for a remedy? If I have to.

Can I complain to the OFT about the antics of a loan company?

Thank you for replying. I do not know, but will check.

Hello, all you wise and wonderful people. Heard about The Group from a friend, and would welcome any advice you can offer, on behalf of my son.

He has a mortgage with Northern Rock and currently owes £67000 with no arrears.

On 8th July 2004 he borrowed £17,400,he cannot remember who from, but subsequently G.E. Money Home Lending took over the loan.(He rather thinks 'his company' was bought out.)

The monthly installments are £288.64

Current monthly rate was 0.750%

He is a self employed steel fitter and has struggled finding work over the past few years, consequently, he fell into arrears.

On 21st April 2011 a GE Money statement stated that the amount received since inception is £13.374.27, fees and interest stand at £7,804.01 and capital balance is £2,503.13

On 16th October 2011 the monthly arrears statement ran as follows:-

Original amount borrowed £17.400.00

Monthly Installment £288.64

Account Balance £20,430.38

Type of Account Repayment Mortgage

Original Term 90 months (7 years 6 months)

Remaining Original Term 4 months

Total cost to repay the loan £20,919.21

He informed them that he could not afford the settlement figure and it was agreed verbally over the phone that he would continue the installments. No paper work to confirm this was ever forthcoming.

He was taken to CC for repossession November last year, he filled in a N244 and the judge made an order for £288.64 plus £50 for arrears, plus a chance to sell the house himself. It was put on the market,current value in region of £130000, best offer received was for £70.000.

Unhappy about all the charges for late payment etc sent GE Money a SAR last Friday. Notified on Saturday by the CC that he would shortly be receiving a bailiff warrant for possession, enclosing a N244.

Went to see a CAB officer this morning who said he could not fight the warrant, as there was now no paperwork to attach a N244 to.

Would really like to get a view of the original loan agreement, would this be covered by the SAR?

Would also like to argue that in view of illegal interest charges,we do not know the true figure of the loan.

Is my son wasting his time trying to fight? The house is still on the market incidentally.

He has spoken to Northern Rock today, who say they cannot interfere, "as nothing to do with them".

I would appreciate any comments or help that you can provide. Thank you for reading.