GE Money Arrears Charges - Payback Time

[HomerJSimpson]

Unfortunately there are two places to post these threads, Mortgages and Secured Loans - and Other Institions (Mortgate Companies)

 

Not sure where is best to post.

 

Anyway................

 

It's time to go after the b@rsteward$ at GE Money Home Lending.

 

I've paid them off, got them off my back (thank God) and it's time for some payback for the charges they applied.

 

I believe in getting your facts before starting litigation, so I think I've got what I need against GE.

 

They've charged a load in arrears fees, failed direct debit fees, failed litigation fees for repossession, interest on all of those, and I do have proof of the backhander they paid to Ocean Finance for the brokerage of my secured loan.

 

I'm pretty sure some of this will be straightforward, but anyone who has had success against these @rses, I would love to hear from you. All advice appreciated.

 

Best regards,

 

HJS

Edited June 3, 2010 by HomerJSimpson

[42man]

Good luck HJS...keep us posted, first step is to make a formal request for the return of the monies, i.e. give them the chance to answer your request. If they fail to respond or it becomes deadlocked then go for it...

[HomerJSimpson]

Hi 42man, already asked for my money and GE said no. Actually they offered me £320 as a gesture of goodwill, but they can stick that where the sun doesn't shine. I'd like it all back, plus the extortionate interest they charged me.

 

I'm minded to bring three different claims initially. One for the failed direct debit charges, monthly arrears charges and default notice charges, a second for the administration charges to release their security charge from land registry and the non-visit from their debt counsellor, and a third for the Court fees for their failed posession claim against me.

 

I think the arrears charges and default notice charges are quite straightforward. They can't defend them as far as I can see.

 

The administration fees for the release of their security charge against my property was £200. I know and have proof that Land Registry charge no fee for this, so I don't think GE can justify this fee of £200.

 

The Court fee of £150 for their failed posession claim, I'm not entirely sure. I have their original claim asking the Court to order I give them posession of my home, and order that they can add their costs for the posession claim to my account. The Court ordered that the claim be adjourned generally, with no mention of costs being awarded against myself. I'm thinking they can pay their own costs for bringing a claim that stood no real prospect of success. And possibly the same logic applied to their legal costs/solicitors costs they charged me regarding their failed litigation.

 

I'm open to suggestions and feedback from others regarding this. I'm not very clever and would appreciate advice here.

 

I do have the Patricia Pearl book which mentions pre-action conduct and general practice direction being introduced in April 2009. This is news to me and so I believe it prudent to cover my @rse and send GE very comprehensive LBA's outlining the basis of my litigation.

 

As I've found GE to be complete t0$s3rs so far, I believe that separate claims will avoid GE's attempts to have claims struck out, and may also cost them a few quid to deal with.

 

I despise GE and payback is long overdue.

 

HJS

[HomerJSimpson]

I'm thinking of something like this for a letter before action.

 

 

Dear Sir/Madam,

Despite the extensive previous correspondence I have sent you regarding this matter, that you have chosen not to resolve, despite being given ample opportunity to do so, I am complying with Civil Procedure Rules and Court Pre-action Protocol, by sending you this Letter Before Action.

I believe that the charges GE Money have applied to my account are wholly disproportionate to their actual costs and are therefore unfair under Reg 6 of UTCCR. I believe that GE Money occupy a dominant position in relation to myself in the contract, and have operated their dominant position contrary to the requirements of good faith by misrepresenting their administration fees and debt counsellor non-visit charges per Reg 5 UTCCR. I also believe that GE Money have made a contractual misrepresentation that these charges relate to the actual costs incurred by GE Money. Furthermore, I believe that GE Money have breached their statutory obligations, contrary to their regulation by the FSA, by failing to communicate with me in a way that is fair, clear and not misleading.

I have asked GE Money for a full and complete breakdown of how they arrive at a charge of £40 per month for dealing with an account whilst in arrears. GE Money have failed to provide me with such a breakdown, or indeed any audited accounts proving that GE Money actually incur provable losses or actual costs of £40 per month, for dealing with my breaches of contract by my late payment of my secured loan. GE Money have also failed to provide proof of their charges for Default Notices and failed direct debit charges.

This letter before action regards only the monthly arrears fees, and the default notice fees and failed direct debit fees elements of my claim against GE Money. As GE Money are being particularly obstructive in my access to my legal right of information in this claim, I shall be forced to bring numerous separate claims against GE Money. I hereby respectfully apologise to the County Courts for this, but as GE Money have a specific department, known as The Contentious Litigation Department, whose sole aim appears to be to obstruct an aggrieved claimant, then I believe it is fair and reasonable for me to bring separate claims for each separate element of my claim.

I calculate that GE Money have charged me £810 plus interest at their scandalous rates, for my failure to pay my direct debit payments at the agreed time, and their alledged costs incurred in dealing with my account whilst in arrears. I enclose a schedule of these charges with this letter before action. This figue is calculated from the failed Direct debit charges and the monthly Arrears Fees that GE Money charged me. I contend that GE Money did not actually incur these costs, and they are actually a fanciful charge they have fabricated to unduly enrich their profits. I believe these charges in no way represent their actual costs. Therefore I believe GE Money should refund these charges, plus the interest they charged, plus the 8% statutory interest a court would award, for me being deprived of my money by GE Money.

GE Money will be well aware of the large fines handed to GMAC and Kensington by the FSA for their unfair and excessive charging regimes imposed on customers whilst in arrears. If GMAC and Kensingtons charges are deemed to be excessive and unfair, it is clear to me that GE Moneys charges are also.

I also note that on commencement of my loan, GE Money charged £2.00 for your administration charges when a direct debit was returned unpaid. Would you be so kind as to provide me with the detailed costings analysis you conducted when you felt it necessary to raise this charge to £20.00. Obviously you will be able to demonstrate the increase in your actual costs that necessitated this increase.

I believe that I have already given GE Money sufficient time to deal with my complaint. As a large organisation with access to the best legal advice that money can buy, I believe that fourteen days is sufficient for you to deal with this letter before action. If I do not receive a full and proper response and a full refund including interest within fourteen days, I shall be forced to bring this matter before the County Courts.

 

Yours Sincerely

HJS

 

 

Any comments welcome.

Edited June 4, 2010 by HomerJSimpson

[Hadituptohere]

Watching this one with great interest, good luck Homer

 

Hadituptohere

[frettful38]

subbing with interest too, excellent letter Homer, I am sure that many of us will find this very very helpful and good luck, not that I think you need it with your track record

[HomerJSimpson]

Hi guys, long time no post, but had a wedding and honeymoon to organise. Jamaica is lovely in September.

 

Anyway the LBA was ignored by GE Money, and the wife wouldn't let me spend any of the wedding budget on isuing a court claim. So I issued it on the 7th December, and Eversheds, acting on behalf of GE Money, are rather keen to pay me off.

 

I got an initial offer of 50% of my claim (which I politely refused), a subsequent offer of 75% of my claim (again politely refused), and now have an offer on the table for the full amount claimed £1,134.27. I'm wondering why they are so keen to pay up and avoid court?

 

They are trying the tactic that I'm claiming from the wrong GE, that old chestnut, but still offering the full amount claimed (as a gesture of goodwill etc....)

 

It certainly seems that these companies are more agreeable at court, then they are at the Financial Ombudsman Service.

 

HJS