GMAC what can i claim back ?

[wishboneash]

got a leeter from gmac and had the result of ombudsman statement on it

 

disgusted really charges were 65 pounds a month for 4 years

offered me 566 pounds no intrest applied to it

 

any help please

[wishboneash]

i calculated 3500 pounds in fees they are offering 566 for none as i did not hav a bank account and could only pay by building society check hence late payments dd nothing for 50 pounds a month loaded onto late payments

[dx100uk]

urm..

 

the FOS typically writes to you first not them.

 

if you clearly have been charged these sums...they are unlawful so should be refunded.

 

can you not request a look again,

 

did you do a spreadsheet etc

 

i notice you have several threads on the same issue

 

is all the history on another thread?

 

dx

[MARTIN3030]

2 threads merged.

If you would like your GMAC threads merged with this then report to team.

[wishboneash]

MY ONLY CONCERN DID ON OCCASION TO SPO AND THERFORE DOES NOT APPEAR FAIR TO CONTINUALLY APPLY FEES ON A MONTHLY BASIS I BELIVE AN OFFER OF 450 TO REFUND THIS SUITABLY ADDREssSTHIS ISSUE the fos letter

 

IT APPERS that on the whole mr t continued to pay irregulary throught out 2003 and 2004 and 2005 as missed monthly payments were often corected by two payments being made the following month debt conseller cam to see me because 800 pounds for car repairs

the arreas were not cleared as promised but i continued to make payments on sporadic basis till cleared

it is concluded that arreas had arisen due to financial mismangent and not finacial hardship as a gesture of goodwill 450 was issued to claim company

 

 

HAS any one challenged gmac for full fees used a claim company help ?

 

 

becuse i had not imformed gmac of finincial hardships saying it was finacial miss managent

 

becuase i did not inform them

[wishboneash]

MY ONLY CONCERN DID ON OCCASION TO SPO AND THERFORE DOES NOT APPEAR FAIR TO CONTINUALLY APPLY FEES ON A MONTHLY BASIS I BELIVE AN OFFER OF 450 TO REFUND THIS SUITABLY ADDREssSTHIS ISSUE the fos letter

 

IT APPERS that on the whole mr t continued to pay irregulary throught out 2003 and 2004 and 2005 as missed monthly payments were often corected by two payments being made the following month debt conseller cam to see me because 800 pounds for car repairs

the arreas were not cleared as promised but i continued to make payments on sporadic basis till cleared

it is concluded that arreas had arisen due to financial mismangent and not finacial hardship as a gesture of goodwill 450 was issued to claim company

 

 

HAS any one challenged gmac for full fees used a claim company help ?

[James00]

For those who have lost money as a result of doing business with an authorised firm that is unable or likely to be unable to meet claims made against it, The Financial Services Compensation Scheme’s role is to help them.

[wishboneash]

f you clearly have been charged these sums...they are unlawful so should be refunded.

 

can you not request a look again,

 

did you do a spreadsheet etc

 

yes got a copy of all charges since 2001 till 208 when redeemed to another lender

 

total £3500

did complain to ombudsman but he thought it was unjust loading on the fees says it was finacial missmangement by me of course yes no bank account only a building society pass book so i could only write a cheque out every two weeks on a dept managent program taken to court by gmac represented myself is any one else in this situation

 

 

 

 

is all the history on another thread?

 

dx

Edited October 12, 2010 by wishboneash
spell

[wishboneash]

were do i complain over their desision over their response thanks

[dirkuberpower]

depends on whats it about?

[wishboneash]

dd mortgage arrears becuse my bank book was taken off could not pay by direct debit only a building society check when i had funds

[wishboneash]

has any got any knowlege how to claim from 2001 was told you can only claim from 2004

[saverjustice]

has any got any knowlege how to claim from 2001 was told you can only claim from 2004

 

Although the FSA has been regulating mortgages from the end of 2004 the lender may be liable for any acts or omissions prior to that.

 

So, it depends on the circumstances.

[wishboneash]

has any one tried about mis sold mortgages Paul

[dirkuberpower]

Many have tried and failed, there's a lot of audit trail and less scope for mis-sale.

 

How was it mis-sold?

 

If its just a high rate then probably no hope.

[wishboneash]

hi every one a few firms are claiming to help out on miss-sold mortgages any used these companies

[wishboneash]

how do i complain about the decision given to me about a reasonable offer from g mac i wanted the whole amount £3500 in charges plus interest even in a paragraph he it was unfair to load arrears on mortgage plus high interest rate that forced me to go to ge money to re mortgage in 2008 as i was on a rate of 10,6 percent

[wishboneash]

Hi Wishboneash

 

You can claim back all arrears charges plus an estimate of what interest they added to the charges. I always estimate myself but there are online calculators that can reckon up the interest for you.

 

As your charges go back to 2001 it is likely that the interest they have taken - at 10%!!! - will total as much if not more than the charges themselves. Trouble is, if you put a claim for over £5000 it may be allocated to the fast track court which is too risky in terms of your possible costs.

 

So claim for a set period of time which will mean your claim stays within the £5000 barrier. You can claim the rest another time!!

 

Eg.

 

Charges 2001 - 2004 = £2000

Interest = £2950

Total claimed = £4950 (this is a fictitious calculation, by the way!)

 

At a later stage, you claim for the period 2004 - 2009.

 

BAE

 

thanks the mortgage fell into arrears in 2002 ( partner left me with debts ) had my bank account taken off me so only had a passbook so none dd charges were added to the loan , arrears charges mounted up as had to wait for wages to go in pass book then send a cheques off ( building society cheque ) and wait for that to clear interest rate went up after 2 year fix 2008 and 2009 interest rate a punishing 9.7 percent

 

 

then there is the libor issue as well ? ?

[wishboneash]

will submit a court order it did go to ombudsman who thought a 450 was reasonable but unfair to add arrears to Loan rubbish ( did not take in my financial circumstances) also i was taken to court

[wishboneash]

yes was never given financial debt advice which or a debt plan had i known this i would have never had taken a mortgage with GMAC

[wishboneash]

ok need help too

[Blossomandebony]

Here is a POC I have used. Feel free to use or discount as appropriate.

 

[size="5"

 

]In the XXXXXXXXX COUNTY COURT Claim Number: _____________

 

xxxxxxxxxxxx (claimant) vs xxxxxxxxxxxx(defendant)

 

Particulars of Claim

 

Summary: This is a claim for the return of arrears charges that the claimant believes to be unlawful along with associated interest.

 

1. The claimant has a mortgage with the defendant. Account number XXXXXXXXXXXX. Signed and dated XXXXXXXXXXXXXXX. Original amount of credit £XXXXXXXX

 

2. The loan is subject to the Unfair Terms in Consumer Contracts Regulations 1999 (UTCCR).

 

3. The defendant is statutorily bound by Financial Services Authority regulations – Mortgage Conduct of Business rules (MCOB) contained in the FSA Handbook, implemented under the Financial Services and Markets Act 2000.

 

4. The mortgage fell into arrears after the claimant fell into difficulty and was unable to keep up the repayments as required by the mortgage agreement.

 

5. The defendant levied mortgage arrears charges against the claimant.

 

6. The defendants also levied further interest on the arrears charges.

 

7. The arrears charges were levied at a rate which exceeded their administrative costs. According to the MCOB rules, by which the defendant is statutorily bound, lenders should not impose administrative charges to customers in mortgage arrears unless those charges were,

 

‘a reasonable estimate of the cost of additional administration required as a result of the customer being in arrears’.

 

This rule is found in MCOB 12.4.1(1): 12.4.1(1): ‘A firm must ensure that any contract that it enters into does not impose, and cannot be used to impose, a charge for arrears on a customer except where that charge is a reasonable estimate of the cost of the additional administration required as a result of the customer being in arrears.’

 

8. Additionally, the level of the charges was unfair because they breach the requirement of fairness contained in UTCCR.

 

9. The charges are also unlawful because they are levied in breach of the defendant's statutory duty to treat their customers fairly, as stipulated in MCOB.

 

10. Furthermore, as the amount of the Charges exceeded any genuine pre-estimate of the damage that would have been suffered by the defendant in relation to the Claimant’s transgressions, the Charges were both punitive and a penalty, and thus unenforceable at common law.

 

11. For these reasons the interest levied on the arrears charges is also unlawful

 

 

In conclusion

 

The claimant seeks the return of unlawfully levied charges plus associated interest – £ xxxxxxxx

This is a true statement of the facts

 

Signed __________________________(claimant) Dated______________________

[/size]

Edited January 12, 2013 by Blossomandebony

[Blossomandebony]

Here are some examples of areas of mortgage advice that may give rise to complaints, and therefore compensation, taken directly from the fiinancial Services website

 

Where a consumer has not been advised about the different types of mortgage available, which resulted in them choosing a mortgage that was not suitable for them at the time. They have lost money as a result.

 

If specific details of the mortgage chosen are incorrect, for example a longer term has been selected than the consumer had intended or required, and the consumer has lost money as a result.

 

If a consumer was advised to switch mortgages but was not given an adequate explanation of why a switch should be made, and the advice to switch mortgages resulted in the consumer losing money.

 

If a consumer was advised to take out a lifetime mortgage that was unsuitable for their circumstances at the time and they have lost money as a result.

 

If you were advised to take out a mortgage endowment policy by a financial adviser, this will usually be an investment claim. These types of claim have been protected by the FSCS since 28 August 1988.

[wishboneash]

hi when i started out with a mortgage was with the halifax it was a pep mortgage then halifax switched it to a repayment mortgage as i was not putting a hundred pounds a month in the pep

[wishboneash]

thanks will take a day going through all the charges and make two claims thanks

 

has any one done separate claims for fees ?

 

thank you what did you do to start the ball rolling i remember gmac calling me up offering 450 pounds before xmas see if i would take the bait in 2010 but i knew i had time on my hand they did say they would defend robustly any claim thank you i have all my statements before the got lost by them