HP Loan and Charges

[Dazt36]

Hi all,

 

hope someone can offer some advice on my situation with GMAC.

 

Three years ago I bought a used car on finance with GMAC, I have one final payment of £89 to make, which clears the initial loan, but they are now slapping on £551 of late fees (£15 per letter) and two default notice charges (£30 per warning and £30 when issued). This total figure also includes nearly £300 of CA fees, which i presume is the credit agency that came to see me last year when I missed a few payments after I lost my job.

I didn't pay the cedit agency anything or agreed anything, I just went back to GMAC and agreed a higher monthly paymrnt plan, to which they agreed. Lucily I was back in work at this time.

 

My question is do I have to pay all these fees or are they disputable?

 

I was told today that the account won't be closed until all the fees are paid.

 

Many thanks

 

Daz

[Guest Old_andrew2018]

They are most certainly penalty charges, you need to request information on these charges via an SAR, if you have a copy of your loan agreement you could up-load it after removing any personal details.

 

I am sure you will get plenty of advice.

 

Regards

 

 

Andy

[Dazt36]

Hi Andy,

 

hope I've done this right and they are readable...? I have used photobucket - don't know if there is a better way?

 

These are the fees, although others or interest have been added since. I got this just a couple of weeks ago.

 

 

This is the agreement. I have the small print too, but not too sure if it will be readable.

 

 

Many thanks in advance

 

Daz

[Guest Old_andrew2018]

With luck someone will advise you after checking out the agreement

 

Regards

 

Andy

[steven4064]

Hi Daz

 

Firstly, I've had a look at the agreement and that is perfectly OK - it has all the prescribed terms and signatures (provided it has your signature in the bottom left-hand box).

 

THe charges, as Andy has said, are all penalty charges and therefore unlawful except, posssibly, the CA fees. However, if these represent a charge for collectoin activities, they are not penalties as such but and contrary to the OFT guidelines on debt collection.

 

In the first instance, therefore, you should put in a claim for the whole lot.

[Dazt36]

Hi Steve,

 

Yeah I did presume all would be in order with the agreement. Just noticed that I have also been paying PPI, don't remember agreeing to that??? You can see it on the agreement. Might be able to get that back???

 

I have the original part of the PPI agreement with all the small print, which shows all the different covers and there is an acceptance signature here for the PPI - without my signature! Think it's quite well hidden on the main agreement too....

 

Now that the loan is paid off, is the HP agreement finished or does it continue until the penalties are paid? Whay I mean is, if I dispute them can they still recover the car? I've just made the last payment on the agreement and it's only this £551 of charges that is now hanging over me.

 

Any help always appreciated

 

Thanks guys

 

Daz

[steven4064]

Once you have paid more than a third of the agreement, they can only reposses if they have court order. If they tried to get one, you could counter claim for the charges (and mis-sold PPI if that is legitimate).

 

I stick with my advice in post #5 - put in a claim for all the charges.

 

On the PPI, the only way to reclaim it is if you can show it was mis-sold (not just that you can't rememebr agreeing to it). Evidence for mis-selling are things like if at the time you were unemployed or on long-term sick - circumstances where you would not have been able to claim on the policy.