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Found 19 results

  1. Hello I am deaf and me and my wife took a loan out of £16,000 secured loan through igroup Ltd via loans.co.uk. We believe we have been misold with PPI. I wish to make a PPI complaint so can you please point me to the right direction to who I should make a PPI complaint to? The loan was taken out sometime between 2001-2003, not too sure and we have lost the original agreement, unfortunately. Please help? Many thanks Angus
  2. Hi all, To make this as brief as possible, I had a second charge on my property with Nemo personal finance. In 2007 the property was repossessed due to a lot of bad luck and the original lender sold the property over £50,000 less than market value just to cover their own expenses (G E Money) which left nothing to pay off the second charge. I have been battling this loan on and off ever since and during this time Nemo took me to court and won because I never defended the claim and this was due to the fact \I knew nothing about it. I agreed a miminal payment to them which I paid monthly about 2/3 years ago I wrote to them sending them £10 PO asking for a SAR. They never produced it so after a while I stopped paying and things went quiet of a year. Now they are back on my case threatening with a attachment to earnings, High court Writ and Baliffs etc. I am not sure how I should proceed with this and would really appreciate some help. I id speak to one of their customer service reps when I got the first contact letter and explained that I stopped paying because they did not comply with my request and he said he would look into it and get back to me but he hasnt and I ave just had a letter threatening allsorts to collect. When I first loss my house I did do a lot of research on this with regard to the PPI and secret commissions which there undoubtedly was but never saw it through due to personal circumstances.
  3. Hi, Not sure if anyone can help, I took 2 secured loans out within a couple of months of each other in 2006/2007, the loans were with iGroup, via Easy Loans (which I understand is or was a broker) and both were for over £5k each. Both loans were settled within a few months, the PPI was added up front (if that makes sense), when I cleared the loans I paid all of the PPI too even though, as I understood it, the loans were for 5 years and the policies too.. I find it hard to believe that I needed to pay the PPI for 5 years x 2 even though the money from the actual loans was paid back within, at the most, 6 months. I took these loans out with my then partner. Both loans and policies were in joint names, although I was not working so wouldn't have benefited from PPI, I also had various existing medical conditions. A few years back I tried to reclaim the PPI with Easy Loans, but was unable to (I can't remember why) and I even contacted the ombudsman but my claim was not upheld. If I remember correctly, something was said about the policies (at that time) still being active, though I may be wrong. I don't really understand the new rule/possible way of claiming? But have contacted GE Money with a view of trying to find out if I can try to claim again and they have asked me for identity documents which I have sent. Just querying if I am flogging a dead horse before I possibly go any further? Or am I contacting the wrong company? Any thoughts and/or advice most welcome, thanks.
  4. Hi I took out a secured loan in 2003 through a broker called freedom finance who are no longer trading , PPI was added to the loan . I missed a couple of payments when the acct was passed to GE money , but always made up the missed payments over 2 months by paying extra on the contractual payments . The charges from the arrears charges have accrued interest and now stand at £1700. The loan was passed to Elderbridge last year and I have continued to pay the CMI , and when I could made a extra payment to reduce the arrears. I managed to dig out the contract and was surprised to see the loan payments end this May but when I rang Elderbridge i was informed the outstanding balance is £2723 this includes the principle balance of £982 the remaining is the historic charges and interest from GE Money but Elderbridge do not charge interest on historic charges. Is it worth me doing a SAR request and look at the reclaiming the mortgage charges ? I contacted the FOS about the PPI , but was advised as the broker and Igroup is no longer trading , PPI claim would not be successful . Any help with next steps would be appreciated .
  5. Just found an old loan agreement from GE money, with PPI through Igroup which is owned by them. phoned them up and they said they weren't liable as it was brokered by Alabaster (ocean finance) rang FOS who were unhelpful, FSCS told me its out of their time limits as it was taken out in 2003, and also alabaster was based in jersey, i read something similar online, and saw a few people have been duped, is this a lost cause?? theguardian.com/money/2010/jul/11/ocean-finance-refund let me know so i can save it or bin it.
  6. Hi, Hope I'm posting this in the correct area. I have the misfortune to have a mortgage with what is now called GeMoney formerly Igroup, taken out in 2000 (15 year term) when I was self employed and arranged through a so called independent broker Capital Credit, who actually appear to have direct connections with Igroup/GeMoney. Over the period of the mortgage I have experienced many difficulties in maintaining the repayments, although fortunately for the last 5/6 years have been keeping up with the payments including extra towards the arrears ( which will pay these off within the remaining term). However they are now pursuing me for around £14+ k charges. I've read through some of the threads on here regarding the charges being unfair and would be grateful for any advice on how to go about reclaiming these and if at this late stage I can still do this. I have already made a SAR request and received a huge wadge of paper from them which I am about to go through to try to identify all the charges. Look forward to hearing from anyone who may be able to advise or who has had success claiming against Igroup/GeMoney Regards Barry
  7. Hi, My husband and I took out a £6k loan, with £500 broker fee to Purple Loans. The loan was originally from iGroup, who became GE Money Home Lending. The Loan was taken out in Oct 2002 and was due to expire in October 2009. During the course of the loan, we did experience some financial difficulty (I wasn't working when we took the loan out) and fell into some arrears periodically. We always cleared the arrears. After buring our head in the sand about this loan never ceasing to end, In 2011 we entered into a verbal agreement, and suggestion by GE Money, to increase the monthly payment and that the loan would be 'clear in 4 years' . No chance of that! We are in year 4 and still owe £4,880. This is a secured loan, or I'd just stop paying. Detailed below is what we have paid (the second line of data is from the expiry of the loan) and been charged for up to 2013! I still have 2 years worth of montly £150 payments to be added and additional interest and additional interest - SI (simple interest) Credits Interest Additional Interest Additional Int - SI 10,916.45 4,684.44 4,245.56 22.41 6,397.80 3,374.03 345.56 We have also incurred the following charges during the 'term' of the loan. Admin Fee Default Notice Solicitor Interim Litigation Referal Interest Adj Valuation Fee Debt Councilling 2,560.00 119.25 2,169.15 20.00 1.01 17.62 94.00 There were threats of court during the arrears, although there was only one occassion that it go to the court attendance stage. I have been in touch with Citizens Advice, who passed me onto Nat'l Debt line. I have requested SAR from GE Money and have raised a complaint about unfair interest/admin charges with the Financial Ombudsman (as advise by Nat'l Debt Line). At one point, we were paying £133 per month, with the remaining £1.24 contractual interest, but with a whopping £88 something for additional interest!!! Any advice on where to go from here would be great. Oh, also on an illegible part of the contract - the PPI wasn't selected - so can't claim that back. Thanks
  8. Hi, I wonder if anyone could offer some advice? I received a letter from a firm of solicitors stating that a small secured loan I took out in 1997 was possibly subject to a secret commission. They included a copy of the mortgage deed but nothing else. They wanted me to sign a contract for their fee of 35% of monies they claimed back + contribution towards legal costs from GE Money. I wrote to them stating that I thought 35% a bit much - they replied saying that they weren't even sure that there was a claim to be had, but their initial investigations would be free and if a claim was pursuable, their fees could be less depending on the amount claimable. I have now received an offer from GE Money via the solicitors to pay:- the secret commission + contractural interest from the date I entered the loan to the date it was redeemed + 6% interest from the date the loan was redeemed ("delay interest") less 20% of daily interest paid to HMRC + the fee I paid to the broker + contribution towards legal costs. SO out of approx £1500 I get approx £800. This deal is on the table until the end of January and includes a confidentiality clause. Does this sound about right? I have spent many hours looking into this, and researching Hurstanger - unlike HUrstanger, this is a proper secret commission (in that I knew nothing about it at all - I thought the only commission being paid was the one I made). Whilst I am grateful for the heads up re; secret commission (I had never heard of it), I have no idea where these solicitors have got my details from, where they got a copy of my mortgage deed from, or if this is worth pursuing..... Obviously £800 is an unexpected bonus after all of these years, am I being greedy thinking that there should be more? Should interest be paid on the whole amount of commission + contractural interest that I paid, not just on the secret commission? If I were taking them to court myself the rate would be 8%?... In the meantime the solicitors are pressing me to sign the agreement and send it back to them before the end of the month when it expires. Thanks in advance This loan was 18 years ago, is there no time limit on making a claim?
  9. Hi Guys - received a letter from Loans.co.uk saying that I had been possibly mis sold a ppi policy on my mortgage - originally through igroup and then gemoney. I completed the form returned it and have been told that it has been upheld and that they are calculating the settlement. I raked through some old documentation and fund the 5 year term policy which was paid in a single premium back in 2006- now I am still paying my mortgage still got 10 years to run- I can remember that it seemed my mortgage was a lot higher in the first couple of years but I cant remember any specific ppi repayment being paid monthly - So do you think that I have repaid all of the single premium in the first fe years or would that premium of 4400 been spread over the whole life of the mortgage which would mean Im still paying it even though it was only for the first 5 years. I actually rang the Wessex group who checked and said it was paid in one lump at the beginning of my loan - just wondered if you had heard of this before
  10. Hi all, I am hoping someone could answer a few questions. My husband & I took out a secured loan with igroup in April 2004 with Ocean Finance acting as the broker. The loan had PPI on it to the tune of £1800. My questions are: (1). The PPI only covered the first five years of a 14 year loan, which presumably means after this we had no cover but were still paying for PPI. Is that a case of mis-selling? (2). I read in the papers about unfair relationships & secret commissions . On the original paperwork which we have kept, it states that Ocean Finance did not receive any commission from igroup , in fact the PPI part of the loan was paid to igroup Financial Services ltd . I am assuming Ocean Finance did not do all that work for nothing. (3). who do we complain to igroup or Ocean Finance? Thank you, Sallyann
  11. Hi Long story going on here, after moving house recently I started sorting old paperwork and came across a reclaim for ppi that my ex wife had been trying to solve. I admit to being a bit of a no brainer with any of this sort of thing. A letter dated 2012 stated that ge money was not responsible for ppi and as dial4aloan was defunct they basically said , no chance and it was their final response. So this started me digging around the internet to see what was out there, and I discovered this site. I called ge money who said about the final response letter etc and they would send me copies of what was sent etc. . but they did not owe me anything so take it up with fos etc I have today received this and I am as oblivious as ever. They have sent copies of the reclaim paperwork and letters that were sent but also attached is a statement headed PPI REDRESS CALCULATION UNDER FOS RULES - SINGLE PREMIUM POLICIES this has my personal details, instalment details then a column for award calculation and another for 8% simple interest, with a total of 1531.36 If this account was nothing to do with them, how would they know that information ? a bit of background : took out a secured loan in 2002 through dial4aloan and received the deed from igroup june 2002. In the top right of the dial4loan application it says CREDIT AGREEMENT REGULATED BY THE CONSUMER CREDIT ACT 1974 (CAPITAL REPAYMENT) I repaid in full in 2003 Please can anyone tell me if I should let this die and forget it or is it worth fighting for ?
  12. I took out a loan in 2001 from IGROUP loans. I spoke to them last week about reclaiming my PPI. I was (and still am) a Local Authority Officer at the time and would have received 6mths full pay and 6 months half pay if I became ill and could not work. I have just come across the papers for the loan. I made copious notes and there is no evidence of a discussion about what benefit my employer offered if I could not work. They have informed me that they cannot offer a refund because the PPI was sold by a broker - Headland Finance. What is the procedure if the PPI was sold by a broker? All my monthly instalments were paid to IG loans not to the broker? Is there anyone out there who can offer some advice? I do not believe that the PPI was necessary.
  13. Found an old loan from igroup Loans Limited who I take it are GE Money same address ect. Going to send a SAR to see what the score was with this loan.
  14. Hi all I do hope I have posted this in the right place. I have endeavoured to do as much of my own research as possible so far on this subject (detailed below), and don't expect busy people to do the legwork for me, but pointers would be very much appreciated please. My parents have recently been contacted by a firm of solicitors regarding a loan they took out in the late 90s with Ocwen/Igroup, offering to pursue a claim on a no-win no-fee basis, for a 35% commission, for secret commissions paid by the lenders to a number of brokers. My parents are elderly now, and I would like to do my best to reclaim the funds on their behalf. In addition, they have been hounded by GE Money on a regular basis in respect of a mortgage they are still paying off(in my view they have made bad financial decisions, unfortunately). Therefore, although I intend to pursue this matter dispassionately, I know it would give them a great deal of satisfaction if I were successful :-D My research so far as yielded the following: Secret commissions were quite common in the sub-prime lending market at this time. Ocwen/Igroup are now GE Money (can be corroborated by info held at companies house?) Relevant case law is Wilson & Anor v Hurstanger Ltd (sorry not able to link to Bailii as new poster) Failure of the broker to disclose a commission paid by the lender constitutes a breach of his fiduciary duty My next steps, however, are uncertain. I have asked my parents to find any relevant paperwork they have dating back to this time. I am assuming I can get them to submit a Subject Access Request under the Data Protection Act to both the lender (and the broker, if they still exist) and gather all information they can about the loans, to find out the nature and extent of any additional commission paid in respect of these loans? Guidance here would be appreciated, please. Things I am not sure of, yet: Are we able to pursue the commissions paid in the respect of these loans, given the time that has elapsed since? What will be seeking to claim? The amount of the commission? The interest paid as a result? presumably it would be difficult to prove any loss incurred by being sold a more expensive product as a result of this conflict of interest I am not a lawyer. I am what I would class as legally literate, and am used to reading legislation and case law (in an entirely different field - social care), and i am tenacious ;-) will I be able to bring this claim on my parents behalf? Are we likely to incure significant costs in the process? Guidance on any of these points would be appreciated, please. Thank you in advance for any pointers you are able to give. And apologies if I have missed any answers to these questions in the research I have already carried out.
  15. Hi, after some advice and investigation on the Which website, we discovered that there's been some issues around self-certified mortgages. We sent a letter to GE Money using the template letter - I'll attach this. We've now had a response that GE Money didn't sell the loan, The Personal Loan Express Limited did and they are no longer trading, so we should contact their administrators. They then go onto say that the issue is 'time barred' because the loan was taken out over six years ago. Then finally they say the complaint is closed and to refer to the Finance and Leasing Association if we're unsatisfied and not to contact the Financial Ombudsman because it is outside their jurisdiction. They also sent a copy of the original credit agreement, which I will also attach. Any advice of next steps to take would be hugely appreciated. The loan was taken out to consolidate debts but there was no checks done on my father's income which now due to ill health is non existant and no checks to ensure that it covered all the debts to be affordable.
  16. Hello everyone, It's been a while but I Sincerly hope your all well? I’m pretty unsure as to what I can do (if anything?) or should be doing (if anything?) regarding the issue of PPI in relation to our mortgage and as a result, If anyone could possibly point myself and my wife in the right direction over this matter we would be greatful, as always. In 2001 we obtained a mortgage through a broker with a Lender called “Platform Home Loans” In 2004 we then re-mortgaged via a broker called “The Mortgage Group” who introduced us to a lender called “Igroup” The Credit agreement reads: Broker Fee 3,000.00 Original Credit Insurance (PPI) 6,556.00 Admin Fees 500.00 Cheque ###### Platform Home Loans Mortgage buyout ###### Secured Loan buyout ###### Total Loan ##,###.## In a nutshell, the “The Mortgage Group” grabbed £3,000 as their fee. I will name this first policy as "PPI One" for reference: The cost of the payment protection Insurance plan sold to us cost £6,556.00 for 5 years cover? According to our paperwork from the time: This PPI figure was divided into two parts: £3,533.00 for Joint Life Cover. £3,023.00 for Acccident, sickness and unemployment. (ASU) £6,556.00 total. It also says " Lender Commission £561.09 We also receive commission on insurance" This was a lot of money, still is and especially for 60 months worth of PPI cover (5 years) despite the mortgage been over 360 months? But when we mentioned this apsect to the broker we were told we had to have this level of protection as its one of the conditions, they were very adament about it, I was Self employed at the time. I still have all the original carbon copies of the agreement too. Looking back, I don’t know how this 5 year policy could have possibly helped protect us for the 25 years mortgage? but we did as we were directed. I just want to see what you think? Leaving this first ppi policy for the moment... we did not leave it 5 years though, only arounf 19 months as In 2006 we remortgaged yet again with: GE this time, who actually approached us as apparently our provider “igroup” and “GE” were all now one and the same? they approached us as they said we were loyal and good paying customers, and as a result they could help us afford some of the things we want but only if we remortgaged. So that's what happened and In 2006 we had a new credit agreement. Although they were the same company we were still charged £1,775.00 in total for the privilage... Broker Fee 1,000.00 Admin Fees 775.00 Cheque ###### GE Money Original Mortgage (Original) ##,###.## Secured Loan buyout ######### Total Loan ????/###,###.## This remortgage cleared and closed out our old mortgage completly for a new one (Our current one) which includes a new monthly PPI policy (PPI Two for reference) Starting immediently at £41.## a month. Sadley, two years later we fell into arrears due to illness (I was self employed and couldn’t work, so Income was zero) I wrote to GE letting them know we were in financial difficulty, they did not reply. I ended up in hospital at one stage and my wife was trying to work and look after our children. We were then advised to write by GE and ask them for “interest Only” repayments. We then get a Letter from GE explaining about a potential 6mth interest only option offer and to sign the attached form to accept; we signed but the day after we received a letter from GE informing us of their intention to commence repossession proceedings? Devastated – scared, worried, sickened you name it, we felt it. Early 2009 we got a Court letter informing us that GE were filing for full arrears or repossessions! Then thanks to family members on both sides, we were able to clear our arrears... Since then until now everything has been OK, but last month we got an “annual review of PPI” letter. Annual, thats wrong as this is the first time we have ever had one of these, but when we looked and double looked at it, It says: “Life Cover” Not included? “Accident & Sickness” Included? “Unemployment” Included? Where’s my life cover? And what Sickness cover? hang on... I was poorly a few years back but did not know I had this cover? GE never said a word at the time either? Am I going mad...GE never said a word that I had sickness or unemployment cover? when we were in arrears and again "Where is my life cover" What did they actually sell us here? What have I been paying £41.## a month for over the last 7 years? Due to the the circumstances, the time frames and dates etc. Can I do anything about the two policies "PPI One" or "PPI Two" as getting this letter recently caused us to look at everything and both policies just dont seem to add up? Can we do anything due to the first policy been 9 years old? Is it just me that thinks that things dont add up can we do anything about the second/ active policy since we have had it for 7 years already other than cancel it? If they will let me! I have since purchased a life cover policy with another compny, which is only £10.## a month. I have written to GE to cancel the PPI but heard nothing as yet? What do you think to all of this? What should we do? any help here would be welcome... Chris. chrscmbs
  17. Hi, I am hoping someone can help me In 2003, we took 2 loans out, one through Dial4aloan, and one through Ocean Finance as brokers. Both loans ended up with igroup, who is now GE Money. It may be helpful for you to know that both loans were over 10 years, had an up front single payment PPI front loaded to the loan, and both were paid off after 15 months, with no refund given. Also, the PPI only covered my husband, when the loans were in both names, and no refund was given for early settlement I sent two PPI claim letters to the brokers, whom have both re-formed, and the original companies are no longer trading. I rang the FOS who advised I go after GE Money (formerly i group) GE Money have now rejected my claims, stating they were not present at the point of sale, and therefore not viable. I note from previous posts that others have had the same response, however the threads havent been updated. Is S56 of the CCA relevant in relation to the brokers acting as their agents? Where do I go from here? Any help would be greatly appreciated
  18. Hi I have a CCA from an old secured loan with igroup. On the CCA it says I have paid insurance. Can I claim this back? If I remember correctly this loan was paid off when we remortgaged about a year after this was taken out, can I still claim interest on this amount? What is strange is this form has been filled in by them, they have also ticked the box for single cover even though this CCA is for a joint loan in both our names and we have both signed it. I obviously saw it as we must have signed it and sent it back but I musn't have noticed at the time. Regards igroupcca.pdf
  19. Help neede in reclaiming ppi back from a loan off igroup, but loan taken out in 2003 for 5 years paid back in 2005, the loan we was told and forced upon us a secured loan on property only for £5000, and told by igroup and the broker that the ppi was conditional, and that had to be taken to get the loan this is down on black and white from broker and igrooup, im still mad about it but tryed to get out of it at time Loan was for 5000 ppi was £1200, the total loan £6200, interest rate 13% over 120 months loan plus ppi was a month £92.57, interest rate variable, i still have agreement statements etc all paper work, what do I do over 6 years old, and im fired up to go get them because they was out of order for this I was always having arguements with igroup over the ppi Who do i contact is it ge money and what is there contact details and anybody have any ideas what i should claim for and how much
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