GE Money Secured Loans ***WON***

[steven4064]

Hi all, they offered me £1000 in full and final. I thought about it for 5 seconds and refused it. Yes I could do with a £1000 at the moment, but I would prefer the £2000 they took off me. The girl said that I might get nothing due to test case etc etc but I said I would still take my chances and hold out for the full amount. Maybe a foolish decision - but we shall see.

THey'll say anything won't they We all know that the test case does not apply to crdeit cards

[Goldlady]

I think we have reached the deadline for their defence to land at court.

 

Waiting for the post - defence or cheque, defence or cheque

[Goldlady]

Oh well - it was the defence. I Group and GE Money Servicing have defended on the basis that they are not the defendants.. Would the real defendant please step forward? GE Money Secured Loans Limited are the ones:D.

 

Defence is fairly standard stuff. They have said I did not particularise the charges - that was because they had kindly summarised them on my last statement - but that they will plead further if I do particularise them. And that they were charging me the agreed price for their services!!

 

AQ has to be returned by 18 April 2008. I will probably need help;)

[the main man]

defence it may be Goldlady but I'm sure the cheque will be following shortly

[Goldlady]

Hi all, message on phone today from their solicitors wanting to talk about a revised settlement offer:D. I have to call them tomorrow. After telling them I would not settle for anything less than the whole lot I have a certain optimism about calling them. Wish me luck

[Goldlady]

The full and final has gone up to £1500. :o I am wondering what to do.... How long will I have to wait for the full amount? Should I say I will accept £1750? AAArgghh

[df1970]

Any news? My allocation hearing is coming up soon.

[MUTT]

Hi Goldlady,

 

Have you claimed for all admin charges and discharge costs and what type of interest (if any) have you added to your claim.

 

MUTT

[Goldlady]

Hi all, need to get my AQ in by tomorrow. Have had another call today from solicitors and going to call them back in the morning to see if they have decided to increase their offer. I will let you know when I have heard further.

 

I claimed the charges of £40 per month and the additional interest they had charged me on those charges (which was clearly shown on my last statement). I have not (yet:D) claimed for the 2k+ ERC as there is a lot of advice against doing so at present, although I reserve the right to claim it in the future.

 

I haven't claimed for the repossession costs or the visit from the "debt counsellor" so I think I have been fairly reasonable really....

[Goldlady]

Well, after reading Damon's thread I decided to settle for just under £1700 this morning. I had claimed against all their entities, but was a little worried about the estoppel argument they had used in Damon's case as our loan has been fully repaid also. When I realised today was also test case result day I thought I would just bite the bullet. OH was still wanting to hold out for the lot. I have just looked at my spreadsheet where I had calculated the charges and interest (on the claim I just used the figures they had put on my statement) and my figures actually add up to around £1700 anyway. (original claim was for just under £2K) And my figures did include the charge for the "debt counsellor". So I am pretty pleased really.

[steven4064]

It is not clear that the judge even considered the estoppel argument in Damon's case let alone agreed with it. However, there is that uncertainty so you probably made a wise decision. So, well done. Another win and on the day te bsnks lost in court too

 

(ps do you want me to change your title to WON?)

[Goldlady]

Hi Steven, think the thread title is misleading anyway. Would be good if you could change it to 'GE Mortgage Default Charges Claim - won' or something like.

 

Thanks

[Goldlady]

In fact - GE Money Secured Loans - as they are the ones who acknowledged the claim - to prevent anyone else claiming against the wrong entity:mad:

[steven4064]

Consider it done ('cos it is )

[Goldlady]

Have received the settlement agreement and not very pleased with two of the terms on it. Firstly that we will make no further claims in connection with the agreement (there is still my £2500 ERC) and secondly that we will not make public any of the provisions of this settlement . I haven't signed it yet so I can tell you guys about it - OH and I are thinking about re-drafting it. What does anyone think?

[steven4064]

You don't have to accept any terms you don't like - you can tell them you won't settle unless they get rid of those two terms

[df1970]

Tricky one - GE are getting wise as per my problems with them recently.

 

I guess it depends on how solid your ERC case is.

 

Damon30