GMAC what can i claim back ?

[wishboneash]

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

 

letter from gmac

 

i note your decision to decline the offer we have put forward in respect of fees should you pursue legal action you need to inform fos 020 7093 5500

to pursue your complaint

it is our policy to defend cases that go to court

i would like to point out that the payment of £566 .69 was not an offer but is your entitlement arising from the FSA to redress scheme in respect of those fees that deemed unfair complaint associate gmac frc .co.uk

 

my fees go back to 2001 to 2008 arrears charges taken to court for arrears which were at £2000 pounds at one point

 

dd fee as bank no bank accont and £50 pounds a month arrears fees

[wishboneash]

i note your decision to decline the offer we have put forward in respect of fees should you pursue legal action you need to inform fos 020 7093 5500

to pursue your complaint

it is our policy to defend cases that go to court

i would like to point out that the payment of £566 .69 was not an offer but is your entitlement arising from the FSA to redress scheme in respect of those fees that deemed unfair complaint associate gmac frc .co.uk

 

my fees go back to 2001 to 2008 arrears charges taken to court for arrears which were at £2000 pounds at one point

 

dd fee as bank no bank accont and £50 pounds a month arrears fees

[wishboneash]

any advice on this please ?

[bustthematrix]

Hi Wishboneash

 

For me, it's not clear what their letter has said. Can you post the actual letter please - concealing any vitals? Thanks.

 

Also, please clarify what you are trying to do and what you've actually claimed for. Do you have a thread for it?

[wishboneash]

hi i took out a morgage from halifax 1997 then went to gmac because of arrears GMAC 20001 for 74,000

 

2002 i was charged 15 pounds none direct debit 50 pounds arears fees At one point they went to £2700 and taken to court 2003 ( suspended order ) i went on a intrest only for a while these fees were added to the loan

the letter from Gmac

as follow i sent them a letter requesting my fees back i went through i claim company xxx but they are usless

 

letter from

gmac rfc i note your decision to decline the offer we have put forward in respect of fees should you pursue legal action you need to inform fos 020 7093 5500

to pursue your complaint

it is our policy to defend cases that go to court

i would like to point out that the payment of £566 .69 was not an offer but is your entitlement arising from the FSA to redress scheme in respect of those fees that deemed unfair complaint associate gmac frc .co.uk

[wishboneash]

thank for you letter

i note your desion to decline the offer we have put forward in respect of the fees

 

it is our policy to defend cases that go to court and this being the case you may wish to contact the FOS for impartial advice

i wuld like to point out the payment of £566.59 was not an offer but your entitlement arising from fsa authority redres scheme in respect of those fees that they deemed unfair

 

yours faihfully

compaints associate

 

nonthing about charges going on the loan no 8% either

 

i have some of my old statements

not sure what the other charges were when i moved to ge capitol

when mortgage was closed

 

thank you

[bustthematrix]

Hi Wishbone

 

Have you read any of the threads regarding claiming back mortgage related fees? The ones with template letters etc? If not that's a great place to start.

 

What do you wish to do?

 

The way I see it, there are two main bases for mortgage related claims

a) Regulatory directives (FSA redress for unjust arrears charging)

e.g. Arrears charges refunds, MEAF overcharging etc

b) Statutory - Refund of unjustifiable and disproportionate charges

 

Both are recoverable but a) is paid much quicker as the FSA can fine and shut the lender down if they misbehave too much. To my knowlegde they have fined a number of lenders over the years but never shut any one down.

 

It appears that b) however, is only paid if you either threaten legal action or actually initiate it.

[wishboneash]

thank you for that i did send a letter to them will complain to ombudsman

 

which template lettes did you use ? thanks

[supersleuth]

Hi Guys,

 

Reading this thread with great interest.

 

Have any of you read the FSA's final notice to GMAC? It details the charges that the FSA deemed unfair. I've attached a pdf copy of the FSA's final notice here for those interested. See para. 4.17 at page 9.

 

It appears that the FSA did not deem the £50 Arrears Fee unfair. The unfair fees were the (1) Direct Debit fee; (2) the Solicitor's Instruction Fee and (3) the impostion and calculation of the Early Redemption Fee.

 

It is astonishing in the extreme that the FSA have not held the £50 per month Arrears Fee, particularly in view of the fact that the FSA found that the accounts in arrears were supposed to be review once every 2 months, hence, the month £50 Arrears fee charge means that it cost you £100 for a GMAC member of staff to look at the account - but worse - GMAC staff didn't review the accounts anyway. See para. 4.14 of the FSA's final notice.

 

Anyway, I would like to put out a request to all current and ex GMAC customers. If any of you have a copy of their published fees Tariffs dated any time between 2004 and 2009, could you post up a copy. I'd be very grateful.

 

I especially would like to know how much they charged for the Solicitor's Instruction Fee during those years. Please note that the GMAC Solicitor's Instruction Fee is a different charge from the legal charges that the solicitor's also stuffed everyone for.

 

Manythanks

Supersleuth

FSA Final Notice - gmac_rfc.pdf

[iconoclash]

]Hi - this might be of use to start with, sure Ive got those terms somewhere, will have a sort out

GMACinfoCraigBeresford.pdf

gmacTariff07.doc

[supersleuth]

]Hi - this might be of use to start with, sure Ive got those terms somewhere, will have a sort out

 

[ATTACH]18744[/ATTACH]

[ATTACH]18745[/ATTACH]

 

Hi Campari2,

 

Thank you soooo very much for this and for your quick response to the request for info.

 

Very kind regards

Supersleuth

[supersleuth]

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:?

 

Hi Campari2

 

I know that Bustthematrix has already responded to you on this question, but I have recently noticed the following which proves that BTM is right.

 

See Treasury Select Committee where Ms Titcomb of the FSA says at para. 9:

 

9. In October 2009, we fined GMAC £2.8 million for failing to treat their customers fairly. We also secured redress of up to £7.7 million (plus interest) for over 46,000 mortgage customers. 16,712 of the 46,000 customers involved in the redress programme remain live in the GMAC-RFC balance sheet and securitised accounts as at 31 March 2010. The loans made to 429 of the 46,000 customers involved in the redress programme were sold to Bradford & Bingley.

 

So if 16,712 of the GMAC customers remain "live" with GMAC, it means that the other 29,288 GMAC customers are with other lenders BUT they are still part of the redress programme. E.g., Ms Titcomb specifically identifies 429 of those as being with B&B.

 

Here's the link to Ms Titcomb's written reply testimony to the Treasury Select Committee.

 

House of Commons - Treasury - Written Evidence

 

Hope it helps

Supersleuth

[iconoclash]

S/S - thank you. I keep coming back to this issue and will write again to the FSA/FOS and hope for a favourable response next time. Meantime, my goal is to get the legal costs removed for an action that was taken prematurely by the lender, and to get the suspended repo removed.

 

I believe both of these issues would have to be handled by the court and thus i would simply incur more legal costs of both mine and theirs unless FOS look at this for me. I had a good case but was advised to drop my defence by the community law centre on grounds of potential costs to me - but the matter of oakwood not following the pre-action protocols was not advanced and furthermore this lender has since capitalised said arrears along with the legal costs and thus increased our mortgage by some ten thousand pounds - grrrrr - why the **** didn't they do that in the first place and save us all those legal fees?? - I kinda think that as it has been rubber stamped thru court I'm on a loser here. any thoughts?

[wishboneash]

hi its with the ombudsman as i got really screwed by them for years

[wishboneash]

is any claiming from Gmac or any other company

[wishboneash]

still waiting for answer

[bustthematrix]

It appears that the FSA did not deem the £50 Arrears Fee unfair. The unfair fees were the (1) Direct Debit fee; (2) the Solicitor's Instruction Fee and (3) the impostion and calculation of the Early Redemption Fee.

The FSA may not have found such fees to be unfair, but that does not mean they are fair. This is extremely important. It is in fact similiar to the OFT saying they would not challenge Credit Fees of £12 or less so all the Card Companies reduced their fees to £12 or thereabouts and claimed they were valid as the OFT approved them.

 

But the OFT did not explicity approve them at £12 or less and that was never the point. The point is that they were not reflective of i) their true costs and ii) their supposed losses. They were therefore unjust and is why Card Companies continue to refund these fees even where banks (for personal current accounts) won't (for the time being).

 

To me, unless a lender can properly justify a charge, it is unfair and subject to being reclaimed one way or another.

Edited July 14, 2010 by bustthematrix
Clarity

[wishboneash]

has any one used a company to claim back ? mine was through gmac rfc

[WILKINSS208]

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.

 

 

gmac are refusing to pay me the redem admin fee, what was your arguement here? they said they are costs which i signed up for in when the mortgage was taken out

[WILKINSS208]

i am battling with gmac aswell and stuck at present. they are nightmare. i want £370 off them but they have offered me 180 as gesture of goodwill.

I claimed charges back from them in 2005, and I am doing it again. They have however stated I signed a consent order indicating that I would not pursue any further claims against them. What can my argument be here?

[bustthematrix]

1. Ask for a copy of the consent order.

2. Examine it to be sure it covers only the past charges you had claimed at the time and not future charges.

3. Even if you signed it, it may not be valid. The charges you claimed back in 2005 would not necessarily be the same ones that the OFT and now the FSA have ordered them to refund.

 

It's not so black and white. Settlement offer letters usually will require you to accept that your complaint has been fully resolved and you won't bring the matter up again.

 

However it's impossible for this to cover future breaches which you/they don't even know about at the time!!!

[WILKINSS208]

1. Ask for a copy of the consent order.

2. Examine it to be sure it covers only the past charges you had claimed at the time and not future charges.

3. Even if you signed it, it may not be valid. The charges you claimed back in 2005 would not necessarily be the same ones that the OFT and now the FSA have ordered them to refund.

 

It's not so black and white. Settlement offer letters usually will require you to accept that your complaint has been fully resolved and you won't bring the matter up again.

 

However it's impossible for this to cover future breaches which you/they don't even know about at the time!!!

 

hi

thanks

 

1. i have emailed them so hopefully i get soon

2. on the consent form it states i agree to not pursue them for any further claims. if i took further they would highglight that they believe my behaviour to be unreasonable.

3. the form does not list the charges, just 'claims' so that could mean everything couldnt it

 

will i accept their offer or continue

[wishboneash]

went through a claims company offered two payments 459 and 559 my cost was over £3500 65 pounds a a month 50 pounds arrears and 15 non dd

 

the ombudsman said this is fine because of my eractic payments from me did not budget for car repairs road tax insurance other bills etc short time work though made payments as much as i could was under that much stress

that gmac informed them that they where getting erractic payments from me

 

any thoughts any one thanks

[dx100uk]

???

what this all about?

 

have you a previous thread with the history of your troubles.

 

dx

[wishboneash]

mine went to ombudsman who told me to take offer because of erractic payments was charged over £3500 65 pounds a month one momth my car engine blew and nnede a replacement engine as i work shifts no public transport put me in arrears again

 

has any one used a mortgage claim company bad mortgages