Sorry I didn't respond Monkkeyface1312.. I haven't had access to a pc for a few days... The situation, as I see it, with regards to ERC is that we all signed up knowing full well the implications of early redemption and whilst grossly unfair, the practice is apparently lawful. Personally, I still think it could be argued that the 'charge' is to cover losses but there is not, in fact any loss to the mortgage lender because when the money is repaid, it is immediately re-lent to some other poor bugger who just wants to own a brick or two... I'm afraid I'm not in any position to put my case forward as I no longer reside in Europe...

I began a claim for ERC against GE Money.. got as far as court but ended up withdrawing after getting them to agree to pay their own costs to date.. If I was you, I would hang fire for now...

That's 100% true!!!! I will be back.. with avengeance In the meantime though, may I enlighten you all! I have had lots of caring Private Messages suggesting that I might want to change my name to maintain anonymity... For the uninitiated, Rebecca Bloomswood is the infamous character in the "Shopaholic" series of books!! If you haven't already read "Secret Dreamworld of a Shopaholic" by Sophie Kinsella, I thoroughly recommend it as an antidote to the stress that Banks give us!!!! I can guarantee it will have you all laughing your heads off and I am certain that for one or two of you, it will definitely strike a chord! GOOD LUCK TO YOU ALL! WE ARE VERY FORTUNATE TO HAVE THIS FORUM AND EACH OTHER.. YOU HAVE ALL BEEN FANTASTIC XXX

Hmmm... It's not the best result but that's how it goes.. you win some, you lose some Thanks to all who posted.. I hope I can be of help to someone else... you sure learn a lot on the way!

Eversheds have agreed to me withdrawing without incurring costs. I will write back and accept but reserve the right to re-open the case at any time.. The wrote to me "Without Prejudice"...

Had response from Eversheds saying that they have passed on my proposal to their client... the wait continues...

And THAT, I believe, is the thin end of the wedge! Watch this space!!

Your name sums up the whole battle! I don't know where everything will go in the weeks ahead.. I can't see the Government intervening AGAINST the citizens.. (well, I wouldn't put anything past them!) There would be public outcry! If anything, the Government should issue a directive telling banks to pay EVERYONE back from whom they have taken money unlawfully without all the fuss...

Mochamoo... thanks a million for responding! I, too, have read that many threads, I don't know whether I'm coming or going! I do remember reading something similar.. Les's deeds were lost, I think... The other thing that I did briefly discuss outside this forum is whether the loan companies had any obligation to prove their losses. A solicitor friend of mine is sure that they (mortgage companies) would be on very sticky ground here as one could argue that there is NO loss in the sense that as soon as one mortgage is repaid, the money is "re-lent".. do you get my drift? If they had to prove their losses, wouldn't they have to show that the money they lent you was sitting dormant not earning interest???

Pretty Please!

Is it right that if you spend more than 2 years outside U.K. your loan is written off? I know people who purport this to be the case, I wonder if anyone can clarify please?

Bump..

Any comments, please?

Oh well.. I've fired the letter off now. Just wait and see what the response is. In the meantime though, when I redeemed my mortgage last year, GE Money 'couldn't find the original mortgage agreement OR the deeds to the house'. Would this be helpful if it ended up in court? The other thing that haunts me to this day is that when I first took my mortgage out, at the eleventh hour, a representtive from iGroup phoned me and said that the interest rate would have to be slightly higher because of my credit rating. They had been aware of my credit rating from day one but I was powerless to do anything or we would not have been able to purhase the house. I don't have any proof of this but would swear under Oath that this was true and I remember the feeling of injustice too clearly. The difference in the rate was 0.25% but with the subsequent rises, I could well have done without it. I would love to know if this is a common tactic and, if so, what can we do about it???

Thanks Zoot and all the other posters... I have just added that I have sent hard copies to them (Eversheds) and the Court.. Thanks for your advice and support.. I can't tell you how much I appreciate it.

Thanks for that.. I had already considered writing to the Court to amend my claim and limit it to under 5,000 GBP... I have re-thought the strategy and wondered if anyone could comment on the revised version of my proposal... "Thank you for your letter of 15th February, which I have just received, advising that the Acknowlegment of Service has been filed at Court. After careful consideration, I am writing in accordance with my duty under the overriding objectives to continue to seek settlement of the case without the need to invoke the time of the courts. In recognition of the fact that you will incur some costs on the closing of the mortgage and in the interest of acting fair and reasonably I am willing to offer your client the chance to settle at 4,000GBP (four thousand pounds), being just under 50% of my original claim. I sincerely hope that this matter can be resolved without the need for litigation saving the Court's time and resources. This offer will remain open until 28th Februrary 2007

"Thank you for your letter of xxxxxx 2007, which I have just received, advising that the Acknowlegment of Service has been filed at Court. After careful consideration, I have decided that I may not wish to pursue the claim any further. I will withdraw my claim with immediate effect on the understanding that I will incur no further costs. As soon as I receive confirmation, I will send Notice of Discontinuance to the Court by return." Will this be ok, please?

As an afterthought, does anyone know if I can amend my claim from 8,000GBP to just the 200GBP exit fee please? If I can claw the 200 quid back without going through the whole process again, that would be better than nothing.. Any thoughts , gratefully appreciated.

If I withdraw my claim, do I approach GE Money first, or simply send off the N279, please? BTW Mochamoo.. I am somewhere warmer, drier, cleaner, cheaper... the list goes on!

Please can someone post the link.. I have read so many posts today I can't seem to find that one and want to contribute. I'm sure others would find it helpful to have a dedicated thread too.

I'm sorry I can't really help you but I do know how frustrating it is waiting for a response! Do you have the details of the insurance company? A copy of the policy, perhaps? Personally, I avoid phoning people because at least the written word gives you an opportunity to think clearly, plan what you want to say properly and gives the recipient the chance to do likewise (for better or for worse).

Thanks so much for your help. I have read the threads with interest. I am going to think, sit and wait - maybe for divine intervention! The one thing that keeps coming back to me though is that my ERC arose when it became clear that we could not continue to live in the house and our only option was to sell. That was a tough decision anyway but, resultantly, we have nothing. Nada. Zilch. (except sanity and dignity... just) Having nothing, however, could be in our favour. That and the fact that we no longer reside in England (or Europe for that matter). If I lose and costs are claimed against me, how would that work? I have bugger all to pay it with! A CCJ wouldn't affect me in any way shape or form and, the way I feel right now, I would HAPPILY go to prison if it meant justice for everyone else. I'm not living the life of Riley, but I'm glad be to be as far away from the British 'Justice' system as I can be. I hate Britain. I hate what it has done to my family and I never, ever want to go back... but I would - for a court case! I am happy to be a martyr to the cause, if necessary. I HAVE NOTHING TO LOSE..

Please can somebody respond. Should I wait until the outcome of the FSA thing on 28th or send Notice of Discontinuance NOW? I am only confused because it is not a new claim as such - it is cought in the middle, so to speak.

After months of careful research, I launched my claim for repayment of ERC last November (nearly 8,000 GBP). I worded my claim with great care, paid the fee and have just received Acknowledgment of Service. In your opinion, should I withdraw now, before I get to the AQ stage or continue, knowing the risks. If I do withdraw now, will I be liable for Eversheds costs to date? Thanks in advance..

Bump