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Ge Money and Link Financial

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Hello,

 

I hope someone can offer me some advice.

 

I had a 10 year loan through GE money to pay for double glazing windows on a previous address.

I had only two years to go with the loan, about £1700, when we moved to Scotland.

 

On moving, we paid most of our loans off and I changed bank.

 

I did not pay off the GE money loan and I overlooked the direct debit when we moved banks.

 

I was unaware that we were now missing payments and GE Money sent letters to my old address and then a default letter, which I obviously never got.

 

A credit check search highlighted the problem, I phoned GE money to explain and they advised me the loan had been sold to Link Financial.

 

I spoke with Link and they told me the loan was now £3,845 because of charges added.

 

They told me the default on my credit file will be lifted on full payment and offered a reduced amount to clear it.

 

I was unable to make any sort of reduced payment and agreed a monthly payment plan of £110.

 

I asked that they send me details of the loan and charges but they never appeared.

 

They call every six months to try and clear the amount with a reduced figure of what I owe, which does not sound right.

 

My job requires me to be vetted and the default causes me difficulty every year.

 

When GE money sell the loan, do the charges get sold too?

 

How can I make them send me details of the loan sold to them and the charges.

 

Steve

Edited by STEEKO00
typing error

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opo

 

hi steve

 

never ever trust anything a DCA says esp LINK.

 

if they are offering a DISCOUNT

 

there is something WRONG with it

 

PENALTY charges

or

PPI

 

or No paperwork.

 

if you are paying them STOP NOW.

 

NEVER EVER phone a DCA

 

they are NOT BAILIFFS

and have NO SUCH LEGAL POWERS.

 

they will say and lie to get money out of your

by any means

 

the money you are paying is NOT

going off the debt!!

 

its going to their pocket!

 

http://www.homesandproperty.co.uk/property_news/news/millionairedebtcollectordigsdeepinsouthkensington.html

 

what is the default date on your CRA file?

 

dx


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WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Hi, Thanks for your reply

 

The date of the default is 18/01/2011.

 

If I stop paying them they wont remove the default and I really need this removed.

 

Steve

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not the way to go about it

 

they wont removed the default i bet

 

they have you on a string.

 

have you got ALL the statement?

 

and is this promise IN WRITING?

 

i bet not

 

dx


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WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Hi,

I only have LINK statements. When we moved house the original Ge Money documents were mislaid, so I don't have any statements from them.

 

Yes the offer of removing the default was only made by phone, not in writing. If I don't pay the default it remains for six years but the balance will show I still owe money, not that its cleared. Surely its better to have a cleared balance default than one with an outstanding debt? I did owe money, but not that much...

 

how can I get details of the 'charges' or the loan they bought from GE money?

Edited by STEEKO00

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i'd sar ge then get everything something smels here.

 

just to clarify,

 

the default would have been put on by the OC

 

and link would just have their name substituted

 

dx


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WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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I would also suggest that you send a cca request to link to get them to provide the correct agreement. The cca request only costs £1 and if they can not provide the agreement and the required paperwork they are stuffed. If they do then a Sar to G.E.

 

Slightly different approach to dx and its up to you to decide.


Any opinion I give is from personal experience .

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Thanks guys

 

my credit file shows Link Assests/FNB. this looks like First National bank, are they GE money now? confused..I'll CCA Link for info Does it have to be a postal order or will a cheque do?

 

Steve

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always PO's BLANK too.

 

however, the idea here is for the OP to get the default removed.

even if link dont have a CCA , it wont resolve that issue.

 

worth the £1 though to get link off your back.

 

link will never remove the default anyhow

its just a spoof yo make you pay when you prob owe nowt in reality

GE wont sell a debt without a reason.

 

if the default was faulty, i'e the figure contained PENALTY charges, thats your route to removal.

 

dx

 

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Excellent

 

I'll SAR GE money, CCA Link and stop payments until resolved. I take it a default has to for the outstanding debt only without penalty charges?

 

Ill update the post with any replies from either company

 

Steve

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Hi,

 

Link response to the CCA was a standard letter stating Link purchased the loan from GE money on 27th January 2011 and the balance was 3,735.96. They have requested a copy of the agreement from GE money as they don't have it and could take up to 30 days.

 

SAR response from GE money was a full statement of the account and spreadsheet of correspondence regarding the account.

 

On 20/08/2010 I made my first missed payment and the balance was 3,290.64.

 

02/09/2010 letter sent First Reminder

21/10/2010 letter sent Final reminder CCA

21/10/2010 letter sent First Notice sums in arrears

 

After the first three missed monthly payments, each incurring a £25 unpaid DD fee, the account was hit with a £30 fee for 'missing instalment fee'

 

A further four missed monthly payments were made, each incurring a £25 unpaid DD fee

 

16/12/2010 a Default notice CCA fee of £30 was added.

 

On the letter list it shows on 17/12/2010 two letters were sent to my old address

1. L167 - Unsecured calling in notice

2. DFC1-CCA Notice of Default Sums/Default notice Fee

 

20/12/2010 returned DD added + £25 fee

 

24/12/2012 a 'Calling in Notice CCA' fee of £25 was added

 

On 25/12/2010 a letter was sent CIN1 - CCA Sent Notice of Default/Call in Notice fee

 

31/12/2010 interest of £62.67 is added to the account

 

07/01/2011 A further returned DD with a fee added (£25)

 

18/01/2011 £35 interest added to account and the total is now £3845.96

18/01/2011 Bad debt write off is shown on the account and £3845.96 is credited showing the account £0.00

 

18/01/2011 Is the default date on my credit file and the amount is £3845.

 

Can I get any help with the default as there appears to be interest and charges added?

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Hi, Forgot to add there is an Insurance premium at the very start of the account when the account was opened for £562.54, would this be PPI?

 

Steve

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yes i bet

 

scan it up or the agreement please

 

set your default scan page size to A4 less than 300DPI [150 will do]

scan the required letters/agreements/sheets - as a picture[jpg] file

don't forget you can use a mobile phone or a digital camera too!!

'

BUT......

ENSURE: remove all pers info inc. barcodes etc using paint program

but leave all monetary figures and dates.

*********************************************************

{DO NOT USE A BIRO OR PEN OR USE SEE THRU TAPE OR LABELS]

try www.pdfescape.com TO BLANK STUFF,

*************************************************************

or

DO IT IN MSPAINT.EXE or any photo editing program

goto one of the many free online pdf converter websites ...

http://freejpgtopdf.com/

if you have multiple scans/pics

put them in a word doc FIRST and convert that to PDF

or use www.pdfmerge.com

convert existing PC files to PDF [office has an installable print to PDF option]

..

 

it would be better to upload a multipage pdf if

you have many images too rather than many single pdfs

.

or if you have PDF as an installed printer drive use that

or use word and save as pdf

try and logically name your file so people know what it is.

though dont use full bank names or CAG in the title

i'e Default notice dd-mm-yyyy TSB

.

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

.

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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so you do have penalty fees good

there is a chance then

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Thanks dx

 

I don't have the agreement yet, await Link producing it... I've uploaded the statements and list of letters sent to my old address.

 

Any help trying to get rid of the default/claim back fees would be appreciated.

 

Steve

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What would be a great result is link having no cca and you being able to get a refund of charges from GE as they should come to you.


Any opinion I give is from personal experience .

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where are the missing statements please

between 20/1/2005 and 31/3/2010?

defaulted by dn 24/11/2010

 

the dn balance contained PENALTY fees

it istherefore invalid - default must be removed.

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Wow dx that is great news...!!

 

I'll down load the other pages and EDIT them properly, removing pers.

 

What's my next move?

 

Steve

Edited by STEEKO00

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Dx. Are you saying that if the balance recorded on your credit file as the default balance contains penalty charges then this is wrong and the default marker must be removed?

 

If that is the case I could clean up my credit file overnight.

could you clarify please.


Any opinion I give is from personal experience .

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Dx. Are you saying that if the balance recorded on your credit file as the default balance contains penalty charges then this is wrong and the default marker must be removed?

 

If that is the case I could clean up my credit file overnight.

could you clarify please.

 

 

I think what dx is referring to is the Default Notice - the amount demanded to remedy can only be genuine arrears . Default/penalty charges are not genuine arrears and would make a Default notice incorrect.


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PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Thank you CB that makes sense now. I was a tad confused. I can see how it can be used should a court claim arise but not sure how it can be used to get a marker removed. I will start a new thread


Any opinion I give is from personal experience .

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Hi,

I was reading the post on single payment PPI which I think relates to this also I believe the part for me is

So in this scenario you would put forward a claim for the total amount of the PPI premium plus the interest charged by the bank on the payments actually made plus the further 8% statutory interest on each payment actually made.
just cant get my head around the spreadsheet. I worked out that I paid £8051.54 in 77 direct debits before the default. That's an average of £103 a month. PPI percentage is 10.18% so £10.48 was PPI per month. Times 77 is quite a bit including the 8%. Nearly enough to clear the outstanding debt.....How do I it get this onto the spreadsheet as it only shows one monthly PPI payment? Or do I show my calculations on a letter to GE Money?

 

Will this support my default removal also?

 

Thanks for any advice

 

Steve

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nothing here says reclaiming PPI gets the defaults off.

good idea to reclaim the PPI though!! but for later!

 

 

you need to reclaim the penalty fees.

 

put EVERY fee in this spreadsheet

 

This second spreadsheet is a compound interest calculator and can be used both for PPI claims and Charges Reclaims on Revolving Credit Accounts such as credit cards. Compound interest is not an award that foslink3.gif will give in respect of PPI claims but it can be used in PPI cases that are pursued through the courts. It is the standard sheet that is also used for charges reclaims both on credit cards and loan accounts where interest in restitutionlink3.gif is claimed.

 

CISheet v101.xls

 

 

do you know their int rate for cell D15?


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Thank you

 

It started at 18.1% then rose every couple of months, should I work the average rate over the charges period?

 

Thanks

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sure

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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