GMAC what can i claim back ?

[waronwant]

We received a letter from GMAC and it states that they are offering

£1016.59.

 

This is in two parts: a cheque for 566.59 and 450.00. Have you received

any cheques?

 

They state that the offer is in line with FSA guidelines and it is

reasonable. It may be that the FOS might not direct any further refunds

so an offer of £1016 may not be too unreasonable

 

Do let us know and please confirm what cheques have been received

 

Regards

JSK Claims

 

I can't help thining the company that are supposed to be "helping" you are a bit wishy washy, wishbone. They say that it "may" be that the FOS "might not" direct any further funds. They aren't really doing anything to justify the payment they'll get from this, and giving you any real help here, are they?

 

It's just my opinion, but I just feel there is NO way a company like GMAC would offer you anything they didn't think you were 100% entitled to, I would still sack this company, and go to the ombudsman. These offers that companies make are designed to save them money, not to make sure you get what you're entitled to.

 

Good luck, whatever you decide though!

[wishboneash]

I can't help thining the company that are supposed to be "helping" you are a bit wishy washy, wishbone. They say that it "may" be that the FOS "might not" direct any further funds. They aren't really doing anything to justify the payment they'll get from this, and giving you any real help here, are they?

 

It's just my opinion, but I just feel there is NO way a company like GMAC would offer you anything they didn't think you were 100% entitled to, I would still sack this company, and go to the ombudsman. These offers that companies make are designed to save them money, not to make sure you get what you're entitled to.

 

Good luck, whatever you decide though!

yes i calculated £4000 pounds at least

gmac th first payments are only 450 for non dd , i calulated 600 for that and 27 x 50 pounds plus thanks will let you now how it goes

[asalique]

hi

 

i wonder if anyone can help / advise

 

i had mortgae with gmac. i was entitled to housing costs benefit from DSS and this was paid direct into my mortgage account by DSS.

 

in nov 09 they wrote to advise that because of the recent court ruling about unreasonable charges i m entitled to 16.25 refund. i had a quick check on my sttements was surprised they charged me nearly 400 pounds. i called them to ask how they arrived at 16.25 as its actually nearly 400 pounds. they explained as there was a partial payment made into the account every month by dss i am not entitled to any refund. in one month there was no payment made at all so i am only entitled to refund of the charge for that month only.

 

is there anything i can do?

 

thanks

 

a salique

[chrisking1962]

Hi peeps,

 

Sorry been away so long, I also had a mortgage with GMAC and also out of the blue because of the FSA's rulings, received a letter with a payment to be sent for £205 for being naughty, but did not see anything about it being full and final payment so have already asked for an explination and a calculation as to how they arrived at this figure. Lol. Will see how it goes but will get ready for the follow up on getting the rest back.

 

bye for now peeps

 

stay fresh

chris

[ihavereclaimedmyrights]

I have recieved a telephone call from the senior complaints ( good morning if your reading ) handler from gmac he comfirmed that he is well aware of Gac and reads the posts everyday he stated we are only consumers with no substance to our arguements !

[Tobyhitchin]

I went to the FOS with a SWIFT Mortgages arrears claim and got nothing back. I was told there was no jurisdiction for FOS to order a refund of charges. It took 8 months and I got nothing. I was advised to go to the County Court if I wanted all my charges

 

Also i was told that even if i did win back some charges the mortgage company are entitled to offset it onto the account rather than money in hand

 

I think getting back any money in hand is a godsend seeing whats happened with the bank charges fiasco.

[pwg6565]

I had a GMAC mortgage from 2003 - 2005 and I wrote to them recently enquiring about excess charges.

I recieved a letter with statements which include hundreds of pounds of charges but they offered me £ 100 as a goodwill gesture !!!

I have now forwarded this onto the F.O.S.

My opinion is if they are prepared to offer £ 100 without me pressing they must know that I am entitled to more. Any thoughts ??

[waronwant]

hi

 

i wonder if anyone can help / advise

 

i had mortgae with gmac. i was entitled to housing costs benefit from DSS and this was paid direct into my mortgage account by DSS.

 

in nov 09 they wrote to advise that because of the recent court ruling about unreasonable charges i m entitled to 16.25 refund. i had a quick check on my sttements was surprised they charged me nearly 400 pounds. i called them to ask how they arrived at 16.25 as its actually nearly 400 pounds. they explained as there was a partial payment made into the account every month by dss i am not entitled to any refund. in one month there was no payment made at all so i am only entitled to refund of the charge for that month only.

 

is there anything i can do?

 

thanks

 

a salique

 

Hiya. I'm not sure how it stands with DSS payments, but it seems like, if the charges have been allocated to YOUR account, and they're deemed to be unfair, they're still repayable to YOU, after all it's you who paid the charges, not the benefits system. I wouldn't think it matters at all whether you or the DSS were making the payments, it's the charges that matter.

 

You've nothing to lose by first of all making a complaint to them, requesting your charges back - there are template reclaiming letters on this site, then if they don't resolve it to your satisfaction, take it to the FOS. It'll only cost a stamp, so you don't need to worry about court costs, etc, and they'll know about legislation involving DSS payments.

 

Good luck!

[pwg6565]

FSA cracks down on mortgage arrears charges - Telegraph

[bustthematrix]

you can claim it all back all the way back to 1995 including any interest they have applied to the charges which they have taken from you.

 

Start reading the forum. Find out how to do it. It's not complicated. Get started now

Hi BF

I and many others are working on doing just this but we could really use some help to get a clear statement on why each of the different type of mortgage account charges may be unlawful.

 

Unlike bank account/overdraft charges, there are many different types each presumably levied for different reasons.

 

Thanks!

[eagleforms]

Hi all

We are trying to set up a case against the charges made by another sub prime loan shark and would like to use the charges made by GMAC in comparision to those made by our blood sucker. Can someone post the main charges made by GMAC please? This would help us a lot. Thanks.

[bustthematrix]

Hi Eagle

 

The key is to understand WHY the FSA ruled against GMAC and are now investigating other similiar players. Basically, if your lender is guilty of the same foul play as GMAC, to the extent that the FSA saw fit to act in the way they have (..and we all know that takes some doing right!), then I believe you can certainly press a case with your present or past lender for the same refunds/interest returned etc.

 

I am doing the same thing and you can follow progress here http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/250026-ge-money-igroup-mortgage.html

 

All the best!

[bobbyh99]

I thought I would update this thread.

I had a number of charges with GMAC outside the FSA period of investigation (i.e. before they started regulating this lot!).

 

Anyway I wrote GMAC a letter stating that just because the FSA ruled against them for a certain period 31/10/04 to 30/11/08, the charges which were applied outside this period (in my case 2003) should also be considered because if they weren't then they wouldn't be treating customers fairly!

 

After the usual holding letters, I have received a phone call from them saying they agree and will reimburse me with the charges which came under the FSA investigation!

 

BobbyH

[bustthematrix]

Well done. Try and get it all in writing though!

 

The point is, if the charges are deemed unfair now, then they were always unfair back then too. In fact they are unfair if they are not proportional and justifiable etc but the 'justice system' doesn't always uphold that.

 

Now they've been officially decried, it's easier to recoup them back.8-)

[iconoclash]

Hi Eagle

 

The key is to understand WHY the FSA ruled against GMAC and are now investigating other similiar players. Basically, if your lender is guilty of the same foul play as GMAC, to the extent that the FSA saw fit to act in the way they have (..and we all know that takes some doing right!), then I believe you can certainly press a case with your present or past lender for the same refunds/interest returned etc.

 

I am doing the same thing and you can follow progress here http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/250026-ge-money-igroup-mortgage.html

 

All the best!

Hi - I probably asked this question before somewhere but this thread looks more relevant - so - i had a mortg. with gmac that was sold to oakwood under the same terms etc, and its operated on those terms - therefore why doesnt the ruling of fsa apply to my contract? any ideas:?

[bustthematrix]

Hi - I probably asked this question before somewhere but this thread looks more relevant - so - i had a mortg. with gmac that was sold to oakwood under the same terms etc, and its operated on those terms - therefore why doesnt the ruling of fsa apply to my contract? any ideas:?

Why do you think it doesn't apply?

 

I believe it certainly does. Though the now much publicised ruling was specifically against GMAC, you will note that it mentions a certain servicer called HML which many lenders use. Even so, it is the principle that's important, if you can appreciate why the FSA says these charges are unfair, it doesn't matter whether your mortgage was sold by GMAC or not nor to whom they sold it. You would have a valid claim against ANY and all lenders whose practices comply with this scenario.

 

All you need to do is write to your current lender about returning the charges.

[pwg6565]

My previous mortgage was with Gmac and after a few weeks of negotiation they have agreed to repay me nearly £400 of excess charges.

Non Payment by D/D Fees, Arrears Charges and Redem Admin Fee are the fees I have been refunded + 8% interest.

[allnamestaken]

Remember the FSA ruled it was unfair to add the fees to the balance of the mortgage and then charge interest on those charges.

 

The refunds GMAC are sending out relate to the additional interest charged on the fees, if you think the fee itself was unfair you will have to complain.

 

GMAC sold their mortgages all over the place. If you were charged fees whilst your account was GMAC you should contact them for your money. If your mortgage was sold on then contact the current lender referencing the FSA's findings against GMAC.

[wishboneash]

thank you will do that

[wishboneash]

has anyone claimed via the tml broker mine was through gmac

[iconoclash]

Why do you think it doesn't apply?

 

I believe it certainly does. Though the now much publicised ruling was specifically against GMAC, you will note that it mentions a certain servicer called HML which many lenders use. Even so, it is the principle that's important, if you can appreciate why the FSA says these charges are unfair, it doesn't matter whether your mortgage was sold by GMAC or not nor to whom they sold it. You would have a valid claim against ANY and all lenders whose practices comply with this scenario.

 

All you need to do is write to your current lender about returning the charges.

Hi - following up on this: I wrote to FOS specifically about this and they wrote back telling me to fill in a form - ok - rang GMAC who said they hadnt charged me anything - wrote to Oakwood who say it does not apply to them - so, will fill in the forms and see what happens next - so annoying.

[bustthematrix]

More good news on mortgage arrears charges refunds and this time it's Kensington.

 

Seems to me the PTBs are coming down more and more on the side of the consumer.

Print News

It will be harder and harder for lenders to argue against this line of reasoning.

 

As I've said elsewhere it really doesn't matter who the lender is, if they've used HML or other similiar 'servicing company' and have levied penalties in the same aggressive unjustifiable manner then they are unfair and should be reclaimable.

[saucy]

BUMP UP AGAIN

 

Can I get my arrears charges/penalties of £50 per week back. They have offered me £125 for penalties of £10-£15 for not paying by DD but not said a word about arrears charges. Also, only gone back to 04. If they were not legal in 04, they could not have been legal previously. By my reckoning they owe me over £1300.

[bustthematrix]

Basically they should repay

 

a) The charge amount

b) The interest you have paid on it

 

and if you have to start a legal action

c) The statutory interest at 8%pa.

This is also why it's important to get a full detailed statement from the lender to show

 

1. What they've charged

2. What interest was paid for each charge

3. What they agree to refund and WHY

4. What they decide not to refund and WHY NOT

 

Then you'll have an idea of what's a reasonable compromise or not etc

[wishboneash]

will do this as well paul.