GMAC Customers read this

[on*the*case]

Hi jayjayhants

 

We are all at the early stages on this so no template letters available yet.

 

Look at the template letters used by the 'Bank Charges Refund' group elsewhere on the forum, and adapt those. Remember the first point of call is the FOS for complainants rather than the Court. Refer in your letter to the points raised by the FSA (search the FSA website for GMAC press release or judgement).

But first establish what your complaint is and quantify the amount claimed (dont forget that the ERC should be calculated on the outstanding mortgage only and not include arrears and charges;))

[jayjayhants]

hi on the case......sold the house 3 years ago and havnt a clue what they charged me other than they took 7 grand!!! will follow ure advice and as soon as they write to me will let you know what they said.....thanks for your reply

[mcintosh44]

Hi jayjaypants.

As for the fine to GMAC, i think you might not have any option accepting the offer on the basis of the first findings with the FSA. (Go to the FSA site and search for 'GMAC fine', that will give you an idea of what the findings are from the FSA including the breakdown of the charges they are paying out)

My £70.00+ has been added to my account as from last week. As for the other fees, ie arrears £50 fee, DD unpaid fee, and all other various fees that will be a different story.

As in the last message you will have to adapt the template for claiming bank charges to the mortgage fees etc. I have actually added the ERC

with Kensington Mortgages because i already have my statements so lets see what they come out with.

You should send a Subject Access Request to GMAC to see what fees they have already added to your account. £10.00 cost in which you will get back.

Search for Templates and you will get the information of how to write the letters.

Finally, According to GMAC and as of 31st October all arrears fees (£50.00) have stopped with them working with the FSA findings....

 

Good Luck.

Mcintosh44

[jayjayhants]

hi macintosh thanks for ure advice............have received an offer of 290.52 now its time for me to have them by the short and curlies!!! going to demand every penny they have taken plus interest...the fact they have stopped the 50.00 monthly fee as from 31st october means it was illegal and so shud be refunded in full...like the banks with their charges,gmac will not want this matter tested in a court room. they will hope that most except their unfair offer and then deal with the likes of us later...gmac are a bent outfit they have been found guilty of overcharging which in laymens terms is ripping people off. now its time for them to be hit where it hurts most in the pocket!!!!

[nowayjose]

Ive been sent a letter saying that I am entitled to £113.00, on a mortgage redeemed over 3 years ago.... I had to phone them and confirm my identity and they said they will be sending out the cheque within 30 days... can I accept this and chase them for any extra unfair charges at a later date or have I basically made a boo boo by accepting this offer???

[mich7k]

I did the same i had to accept the "crumbs" they offered they told me @30 days for the cheque i think we have to wait for template letter to claim back the charges im gonna wait for my check then send ask for a breakdown of my previous account

[Dodgy Geezer]

Hi peeps.

 

I have been offered £444 ish. I am OK with this as i shall eventually be pursuing the other charges. I have two points to raise if i may.

 

1. If anybody accepts their offer but is not satified with it, make sure you accept it unconditionally.

 

2. For the purpose of ease and cost, you might find it better to simply ask for a breakdown of charges, rather than a full SAR.

[slgsue]

I am still waiting to find out if I will be offered anything. Knowing my luck I probably won't get a penny:mad:

[slgsue]

had my offer and must say feel as if I have been kicked in the teeth with their generous offer of £69.12. I dont know what to spend it all on:mad: I will accept it but want the rest of what they owe me.

 

That insulting offer has made me more determined!!!

[jayjayhants]

have emailed a firm called jsk claims and am awaiting their response...they seem to be good at claiming money back and their charge of 10% isnt to bad either...i would advise on not responding until the situation as to if the refund is unconditional becomes clear...u dont want to except an offer in full and final settlment because u wont be able to make anymore claims against them in the future...

[wishboneash]

have emailed a firm called jsk claims and am awaiting their response...they seem to be good at claiming money back and their charge of 10% isnt to bad either...i would advise on not responding until the situation as to if the refund is unconditional becomes clear...u dont want to except an offer in full and final settlment because u wont be able to make anymore claims against them in the future...

 

i calculated 1350 in charges based on £50 each month from 31 12 04

and 405 from the same dates to 31 3 07 for non dd

havent touched on 2003 and 2008

[wishboneash]

i hope everyone will chase the 50 fees they were added to the mortgage

i had a call from wanting know what hardship i was under and thet are worried that i am chasing it through aclaims company

they called me direct

are they going to offer something

 

i think i was charged over £4000

[on*the*case]

It seems you may have rattled their cage not surprised considering the mauling they were given by the FSA.

 

I haven't heard anything yet from GMAC, but still a week to go.

 

Keep us posted on your progress.

[wonderman]

It seem very pertinent to note that during the FSA investigation, they expressly identified 46,000 mortgagors who were victims of GMAC's conduct. Having so identified 46,000 mortgagors, whose names and addresses will be known to both the FSA and GMAC it would be interesting to find out if any of those identified persons have actually received any money from GMAC by way of refund. Point is that the FSA announcement identified 46,000 customers and calculated £7.7 million of overcharges. So why not just send them people the money? They know which accounts, why not just credit each of the respective borrower's accounts?

 

Personally, I think this whole FSA announcement is nothing more than a PR campaign to attempt to gain public confidence in the FSA. My reason for this opinion is because horses bolting and stable doors spring to mind. GMAC have scarpered. They looted the British public and scurried back to the USA a long time ago. So what if they've been fined etc., it means squat to us British consumers. Question is have they actually paid the fine? GMAC are defunct in the UK now anyway and have been so for quite sometime. Interesting that the FSA haven't fined any of the other GMAC style loan sharks that are still operating in the UK.

Edited November 23, 2009 by wonderman

[on*the*case]

Hi wonderman

 

GMAC are still operating, managing the ongoing loan book, though they have withdrawn from lending.

The FSA does have clout, though it seems sometimes reluctant to use it. Regarding any ongoing investigation into Capstone, the timescale is 3-6 months, so dont really expect any announcements until the New Year.

[sellyservice]

Hi All

Just had this offer letter through from Gmac, had completely forgot about this old payed up account and not sent a Subject Access Request or anything, there letter seems to be backing up what we have all be saying for a long time, what does anyone think? gmac offer picture by sellyservice - Photobucket

[on*the*case]

Hi All

Just had this offer letter through from Gmac, had completely forgot about this old payed up account and not sent a Subject Access Request or anything, there letter seems to be backing up what we have all be saying for a long time, what does anyone think? gmac offer picture by sellyservice - Photobucket

 

Its a start

 

.....then chase them for the rest that they have stolen from you

[sellyservice]

Hi

do i take this money or tell them to stick this low amount, they took me to court and made my life hell, think i will get them tell what all the charges were on the account and get them to explain how they come to this amount..

[on*the*case]

Hi

do i take this money or tell them to stick this low amount, they took me to court and made my life hell, think i will get them tell what all the charges were on the account and get them to explain how they come to this amount..

 

Make certain that the offer is not conditional. Then request a full statement of all charges and payments, sight of all third party invoices, a proper redemption statement, then send your SAR. Calculate what is due, dont forget the interest, send your demand to GMAC. When they decline to refund, send your complaint to the FOS.

 

Good Luck

[slgsue]

how do we make certain that the offer is not conditional, do we just ask this when we contact them to accept offer? I know this sounds a bit of a daft question, but want to make sure I don't make any mistakes

[on*the*case]

how do we make certain that the offer is not conditional, do we just ask this when we contact them to accept offer? I know this sounds a bit of a daft question, but want to make sure I don't make any mistakes

 

The first thing is ask, 'Is the offer conditional'?

Then on receipt of the letter check if it says anything like; 'this offer is conditional on', 'or acceptance of this offer....further claims', 'full and final settlement', etc.

Accepting the letter, doesn't mean that you accept the conditions attached, acceptance is assumed when you cash the cheque.

If you have doubts, then post here again for assistance.

[stressed2009]

Wohoo I am NOT impressed! I have been offered £100.44 against over £2.5k of charges. I was not surprised but am still disappointed. Now onto next plan of action....

[on*the*case]

Wohoo I am NOT impressed! I have been offered £100.44 against over £2.5k of charges. I was not surprised but am still disappointed. Now onto next plan of action....

 

You know the drill

 

The FSA payout averages out at about £164 per account......its a start.

 

I've still not heard a peep from GMAC.

[jdene]

I have been offered £30.64 just rang them and they said it is the FSA that have calculated the refunds on each account ? so will be contacting the FSA and offering to supply them with a calculator, every time one of these bodies steps in they end up with a whacking fee for doing thier job and leave the consumer with crumbs and the company laughing with a slap on the wrist.

Why cant they follow the letter of the law andmake these thiefs payback all they have wrongfully taken from customers, not just the minimum they have broken the contract with thier customers and have made a hundred times more than the fine with thier extortinate fees.

sorry rant over just makes me very annoyed.

jdene

[sillygirl1]

I telephoned GMAC the other day and emailed them reminding them of their obligation to me, I also mentioned that I will be contacting the FSA IMMEDIATELY on the 1st December should their promised communication not be received at my new address.

 

I have had dealings with their HL Legal dept which sent a joke of a 'statement', a typed page including a £4000+ Asset Management Fee... (I assume it is a thinly disguised early repayment charge). I've asked for precise details, ie when was person appointed, their name, who authorised it, what work was done, copies of ALL paperwork, relevant or not AND the clauses and conditions in the original contract with GMAC which 'authorise' them to charge this to me...

 

If they want a paper trail they have one!