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harris1997

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About harris1997

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  1. Thank you CitizenB, yes a little clearer.....i think I don't think i will fall under this as i did pay extra money for arrears on top of the normal installment but they did not capitalise.
  2. Which one would i issue a court claim against? And is it correct i can only claim for the past six years. GE sold this to Prestige a year ago
  3. Therefore i was asking what the other post meant and wondered if GE may be one of those! Prestige are just the same! We have tried with them to negotiate a reduced figure but again they only offer a couple of 100 even though they can see how GE handled the account
  4. Yes I tried only got back a measly few when i ended up getting the ombudsman involved. No where near the amt I have paid. To be honest i do not have the time to keep battling with these people i have a terminally ill father who i wld rather spend time with when not working. My loan has now expired and the balance left is 10k all made up of charges that were added to arrears. We have paid 89k already on a 30k loan!
  5. Interesting information. Please can you explain what it actually means to a simpleton like me, or what it is that a company may have done. I do hope GE money falls into this category! Probably wishful thinking on my behalf!
  6. Evening Can anyone offer any advice. My secured loan is due to end on the 4th July 2016, it was originally with GE money who sold to Prestige finance. Original loan was unregulated 30k, to date paid back 89k. There is still a balance of 10k made up of charges and additional interest. I will continue to make payments but wondered what will happen now, can they charge whatever interest rate they like because the original agreement has/will end? Any advice greatly appreciated before I ring them to negotiate. Thanks in advance
  7. I had a letter to say mine has been sold to Prestige finance
  8. Hi, I have received the same type of letter. I had a 1 page letter where at the bottom there was a table that explained 'what we have done' with a table and 2 columns showing the amount before recalculation and the amount after. Mine was a whopping 13p reduction and it only decreased on the arrears balance and the fees * additional interest balance. I received no explanation as to how long this error had occurred or a breakdown of the calculation and how they arrived at the figure. Did your letter provide the same detail I have mentioned or did your letter have additional information? Many thanks
  9. I have also received a letter today informing me my account will be transferred to 'Prestige Finance' on the 6th November! Not much notice then!
  10. Hi, FOS have just made them refund some of the £40 charges they applied to my account and the additional interest but only from April 2014 which is when FOS took over as mine is an unregulated secured loan with GE.
  11. I have a secured loan with GE and they haven't done this to me. However, I am sure I have read elsewhere on this site the same thing has happened to other people.
  12. Hi all, A brief update - I lodged a complaint with FOS for the charges, they could only look at anything after April 2014. As a result GE are paying me back the £40 charges plus additional interest from April till now. Any further charges they may add each month I will need to follow the complaints procedure all over again and then refer to FOS if they don't refund. A lot of messing around but if the result is they have to pay them back to me I will do it. Anything prior to April 2014 I will have to continue to battle with GE and possibly go down the court route to get them back as FOS can not make a decision on anything prior to April 2014 because my loan is unregulated.... I also have shelter working with me on this as well.
  13. Hi Caro Thanks for the link and yes they continue to charge me the £40. I have uploaded an example of my statement where the additional interest payment goes up and then down each alternate month. Does anyone know why this is. There is nothing specific in my terms and conditions about additional interest.
  14. Hi both I will have to look at the t&c, I signed 2 docs - 1 was the loan agreement the other was the mortgage deeds.. ..the terms and conditions on the back of both of them are different. I find it all so confusing:???: The normal interest is reducing every month, the additional interest they charge - 1 month it is higher, the following month lower, the next higher than the previous month and so on. So i find it confusing. I have the statment of account they sent me where it shows the amount they charge month on month. When I am in work tomorrow I will scan one in, PDF it and upload so you can see what I mean. If the additional interest is based on the arrears balance I would assume it would increase each month seen as though that is what the arrears balance is doing, but one month is is higher than the previous.....confused.com:???:
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