Reclaiming Arrears Charges from GE Money Home Lending

[ims21]

Hi All

 

I am currently getting help with Repo action in the Repo forum and am now starting in this forum to get some assistance with claiming back my arrears charges.

 

I think CAG is excellent as there are so many people who don't know what their rights are.

 

Having read the board extensively and made a start in using it, I feel empowered to take on these "big Guns".

 

So, I am going after GE for the charges etc on the arrears of my mortgage which is now being sorted out.

 

Can I just check a couple of things please....

 

First, my starting point should be to send a SAR to GE with the appopriate postal order for £10 and see what comes back.

 

Second, go through the information they provide together with my statements etc to establish the exact amount of charges etc.

 

Third, use the templates available on this site (amended appropriately for my circumstances) to file the claim at court.

 

Fourth, attend the hearing, put arguements and see what the Judge says.

 

Just a couple of points to clarify if I may.

 

1 - Is it just the charges (e.g. £25 DD Failure, £40 Admin etc) which can be claimed back or does the extra interest added to the account form part of the claim as well?

 

2 - I gather that I can ask for interest at, I believe 8% on top of the amount claimed? If so, what is the easiest way of calculating the interest? the interest due on a £40 charge from, say 4 years ago is a lot more than the interest on a £40 charge from 1 year ago.

 

3 - I have seen mention of restitutional damages being claimed. Is this another term for the interest or is it a completely different item? If the latter, how is this calculated please?

 

In some strange way I'm looking forward to taking them on (I don't know why or maybe I shouldn't be looking forward to it). Is this what empowerment feels like?

 

Thanks in advance for any answers you can give me and I will post the progress of my claim for others to follow.

 

Kind regards to all

[BankFodder]

Yes, start off by sending the SAR.

 

Start reading and understanding - especially this article and the linked documents:- http://www.consumeractiongroup.co.uk/forum/content.php?700-Hot-news-for-anyone-who-has-suffered-mortgage-arrears-charges-irresponsible-lending-or-other-unfair-lender-conduct

 

you can claim the interest which they took from you in relation to the charges plus interest on the whole lot.

[BankFodder]

Don't see them as Big Guns.

 

They aren't. They are a company which acts unfairly and which tends to get away with it.

 

You'll see. As soon as you issue your claim, they will start offering you the money to avoid going to court.

 

Read this as well:- http://www.consumeractiongroup.co.uk/forum/content.php?718-Customer-Service-or-County-Court

[ims21]

Thanks Bankfodder

 

I'm off to do the reading as you suggest and to get the SAR prepared

[ims21]

Hi

 

I'd like to get going with this SAR but could you point me in the direction of the correct letter template to use in this case. There are a few on the site and I don't know which one is appropriate.

 

 

Also, I am doing this to my current lender and I have read that this could cause problems in the future if I get into difficulty again. Does this really matter as the courts appear to be behind you if what you are requesting is reasonable and equitable?

 

I feel that these companies should be coughing up unlawful charges.

 

Thanks

[silverfox1961]

Hi

As there isn't a dedicated SAR for what you require, why not use both of the templates in section 2 HERE

See if you can use parts of each.

 

The first SAR is a more comprehensive one but you will need to edit out bits (like 3 True copies of any notice of assignment and default notices or enforcement notice that you/or name of the original creditor sent me, with a copy of any proof of postage that you hold.) if it is still with the original creditor.

 

Someone else may come up with a better one and I'll have a look too

[ims21]

OK

 

thank you Silverfox..will do

[nevos]

Just subbing in-

 

ims21: It's a good idea to use a postal order for your SAR also send it recorded delivery both can be tracked online..Good Luck!

[ims21]

Thanks Nevos

 

I'll keep the forum updated with the progress

[stronger]

Hello all im new to this thread,im at the beginning stages of reclaiming my arrears fees,brokerage fees and unfair charges fees back from ge money i have been with them for 5 years and have had repossesion action from them 3 times i have struggled to pay from the onset but have managed to clear the arrears then get myself back in a hole with it,i am just starting to slowly climb out of it and can now see light at the end of the tunnel.A few days ago i learned i can claim back all there exstortunate charges against me is this true?? if so it runs into thousands and the charges fees are part of the reason i am in the mess i am in... i GO TO BED THINKING ABOUT P[AYING MY MORTGAGE AND WAKE UP THINKING THE SAME THING MORE THAN HALF MY WAGES GOS ON PAYING MY MORTGAGE AND THE ARREARS FEES IM IN A MESS WITH COUNCIL TAX BECAUSE OF IT I contacted ge money and requested a full statement of all my fees and charges from day one which they said they will send to me im hoping i can get this all back,but i really dont know how to go about it properly,if you good people could help me out i would very much appreciate it,first of all....

What is classed as unfair regarding arrears interest fees?

once i get the statement how do i go about telling them i want my money back?

I have always been scared to challenge them before as keeping a roof over our heads has been my main priority and didnt want to pi** them off but im tired of pleading with them and leting them f**k me over just so i can keep this house.....I CANT WAIT TO GET THE BALL ROLLING WITH THIS ANY HELP WOULD BE MUCH APPRECIATED!!!!

[nevos]

Hi Stronger, Welcome! Have you got all your statements to hand? If not then you need to request them with an SAR. Have a good read around this forum and get a feel for how it works.

[stronger]

Hi nevo im just awaiting a full statement from ge money from when my mortgage commenced with them ,so i can check all the charges thanks the advice this forum is really helpful its also heartning to hear many people taking on ge money and winning its about time.

[nevos]

Hi Stronger, Thanks for your post: Just remember, you can't claim any solicitors charges but, late payment, returned DD's and default charges you can. If you send an SAR you can also get phone records but, you need to know the number you called on, date and time of call, so if anyone speaks to them make sure you keep the record or even record the conversation same as they do! Cheers.

[stronger]

Hi nevo i have my full statements,how do i go about asking GE fro my money back i telephoned them today and asked do they still charge interest on arrears once a payment plan is in place they stated they do,this is unfair according to the FSA right ?

[stronger]

hi nevo just going through my statement preparing my letter to claim all unfair moneys taken from me can i claim for additional interest charges? because my interset is charged monthly isnt that one of the things the fsa were trying to stop? anyway else out there who also has any advice/help to pffer id be grateful

[nevos]

Hi Stronger, You need to go through all the statements and list the individual charges.

 

If you visit the library on CAG you will find the simple spread sheet, this has all the calculations in place for standard s69 interest..

Download the file it's in Microsoft Excel. This was my starting point..

 

you will understand it once you open the file just change the info to suit your individual charges..

 

You might request later restitionary interest but, for now use the simple charges.

 

Please note: Don't include any solicitors fees, default charge, late payment charges, bounced direct debits charge.. There should be a prelim letter for requesting your charges back, if you have a problem just shout..

 

There is a sequence to follow i.e. Once you know the extent of the charges then, send a prelim with a summary of the charges (don't include interest at this stage). After this and you receive a standard letter back you will send an LBA ( Letter Before Action) giving them 14 days or your going to file a claim in the County Court. These guys play hard ball and use a specialist firm of solicitors so, keep your nerve! Take care..

 

PS: It's a good idea to start your own thread no offence but, you will get more helpers..

[stronger]

Thankyou Nevos for all your help ill keep you informed on my progerss

[stronger]

Hi Stronger, You need to go through all the statements and list the individual charges.

 

If you visit the library on CAG you will find the simple spread sheet, this has all the calculations in place for standard s69 interest..

Download the file it's in Microsoft Excel. This was my starting point..

 

you will understand it once you open the file just change the info to suit your individual charges..

 

You might request later restitionary interest but, for now use the simple charges.

 

Please note: Don't include any solicitors fees, default charge, late payment charges, bounced direct debits charge.. There should be a prelim letter for requesting your charges back, if you have a problem just shout..

 

There is a sequence to follow i.e. Once you know the extent of the charges then, send a prelim with a summary of the charges (don't include interest at this stage). After this and you receive a standard letter back you will send an LBA ( Letter Before Action) giving them 14 days or your going to file a claim in the County Court. These guys play hard ball and use a specialist firm of solicitors so, keep your nerve! Take care..

 

PS: It's a good idea to start your own thread no offence but, you will get more helpers..

 

 

 

 

 

Hi Nevos just to let you know i took GE on using all the advice you gave me and the letter template,they have offered to repay all the admin fees and additional which was charged to my account on top of these and refunding unpaid direct debit fees....totalling 1500 JUST WANT TO SAY THANK YOU SO MUCH FOR ALL YOUR HELP AND SUPPORT

[nevos]

Hi Stronger,

 

Great news..well done..it works if you keep your nerve.

[toofiegap]

good for yiou I,m with these clowns also and hopefully by EOM ill be without them for good (moving and ending up mortgae freee. ) I managed initiallyh to get some of the charges reversed and in all 200 comp from them due to thier errors but they are beginning to add charges back on the best one is nyon 400 for changing a direct debit dater a few days forward I will also look to get the rest of the charges back funny how a 94,000 morgage (interest only) asnd as a redemoption figure of nearly 100,000 they want . at most I think without the rest of the charges in reality when I calculated everything (should be no early repayment as it has run its course) i should be paying back only 97,000 I have heard stories of them if cornered and paid what you think you owe when turning the mortgage in they refuse to release the deeds causing no end of mysery for the new owners any thaughts ?????

[Zaraphin]

Subbing for futre reference....many thanks for all useful info.

[jaxads]

Any updates on relcaiming charges from GE Money.I'm about to attempt to reclaim their ridiculous £40 "arrears" charges.can anyone point me in the direction of a good spreadsheet that calculates the interest for me??

[ims21]

Any updates on relcaiming charges from GE Money.I'm about to attempt to reclaim their ridiculous £40 "arrears" charges.can anyone point me in the direction of a good spreadsheet that calculates the interest for me??

 

Yes you can get GE to refund those charges and the interest charged as a result.

 

You would be best to start your own thread on this and we can give you help there.

[jaxads]

Hi ims21did you ever get your charges back from GE. I've a separate thread I've just started, but wondered how you got on.

[ims21]

Yes but sadly I forgot to update this thread.