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    • Hi DX   I didnt write as nationwide record calls and also said its not neccessary as they blocked (supposedly) on the phone.   How do I now cancel cpa then? Do I still need to write to Nationwide? Or is it ok now that nationwide have confirmed the block for paypal and the block from visa team to refuse requests from paypal?
    • Hello   Just found this on paypal website (uttterly shocked):   Read your user agreement:   3. Funding Sources   3.1 Linking your Funding Source. You can link or unlink a debit card, a credit card, a pre-paid card (in certain cases), a bank account and/or PayPal Credit as a Funding Source for your Account. Please keep your Funding Source information current (i.e. credit card number and expiration date). If this information changes, we may update it at our sole discretion without any action on your part, according to information provided by your bank or card issuer and third parties (including but not limited to our financial services partners and the card networks). If you do not want us to update your Funding Source information, you may contact your bank or card issuer to request this or remove the Funding Source in your Account Profile. If we update your Funding Source information, we may retain any preference setting attached to it.
    • its a lacking on our part  and yours as you didn't WRITE. instructing not to honour ANY payments to PP but that's NW for you.   you need to cancel the CPA.   GENERAL NOTES ON CHARGEBACK & Continuous Payment Authority & BACS   .....  We have been telling people to put a letter into their bank instructing them  not to make any payments under any circumstances to these companies  . http://whatconsumer.co.uk/visa-debit-chargeback/- it works! usually this should be done using the number on your debit card  .  banks MUST follow written intructions from their customers ! . CANCELLING YOUR DEBIT CARD DOES NOT STOP CPA'S  .  This fsa guide has now been updated:  . http://www.fsa.gov.uk/static/pubs/consumer_info/know_your_rights_guide.pdf http://www.fca.org.uk/news/continuous-payment-authorities-your-right-to-cancel https://www.fca.org.uk/consumers/unauthorised-payments-account  .  Here's the text:  .  Cancelling a regular  card payment:  .  When you give your credit or debit card details to a company and authorise them to take regular payments from your account,   such as for a gym membership or magazine subscription,  it is known as a ‘recurring transaction’ or ‘continuous payment authority’.  . These are often confused with direct debits, but do not offer the same guarantee if the amount or date of the payment changes.  .  In most cases, regular payments can be cancelled by telling the company taking the payments.   .  However,   you have the right to cancel them directly with your bank or card issuer by telling it that you have stopped permission for the payments.   Your bank or card issuer must then stop them – it has no right to insist that you agree this first with the company taking the payments.  .  Be aware, though, that you will still be responsible for paying any money that you owe. and that CANCELLING YOUR CARD WILL NOT STOP THE CPA  .  ..  .  New june 2013  .  Regulator orders Banks and mutuals to review complaints about not cancelling recurring payments from November 2009.  .  Consumers who have set up a regular payment from their account will now be able to successfully cancel that arrangement   by contacting their card provider, the Financial Conduct Authority said.  .  The FCA has been examining how easy it is for customers to cancel Continuous Payment Authorities (CPAs)   due either to payday lendersicon or for other regular payments such as subscriptions or gymicon memberships.  .  CPAs, which are also commonly called recurring transactions or recurring payments,   are relatively easy to set up but can be hard to cancel, causing problems for consumers trying to manage their finances,the FCA said.  .  Now, following the FCA review of how the largest high street banks and mutuals process requests to cancel CPAs, they have agreed that they will ensure that when   a customer asks for a recurring payment to end, that will be sufficient to cancel the arrangement. They have also confirmed that should a payment go through by   mistake following cancellation by a customer the customer will be refunded immediately.  .  In addition to securing this commitment, the largest banks and mutuals have agreed to review every individual complaint they have received about the non-  cancellation of a CPA and to pay redress where payments have continued to be made despite the customer cancelling the arrangement. This applies to all complaints   since November 2009 when the Financial Services Authority, the FCA’s predecessor, began regulating banking conduct.  .  Clive Adamson, the FCA’s director of supervision, said: “It’s important that consumers are confident that banks are meeting their everyday banking needs. Today   customers can be confident that when they ask for a Continuous Payment Authority to be cancelled – it will be cancelled - and that it can be done easily.   . “We recognise that historically this is an area where some customers have struggled but the banks and mutuals have responded positively to our work on this issue.   From now on we expect them to be getting this right. In addition, they have committed to review past complaints.” .  .  Also mentioned your displeasure that as whomever took your money had obviously attempted this many times   probably activating your banks own anti fraud software - nobody had the decency to inform my you this was going on.? .  .In the FSA's own words:  .  ..  What should I do about a payment from my account that I didn’t authorise?  .  Your bank must refund an unauthorised transaction.   Money can only be taken from your account if you have authorised the transaction   or if your bank can prove you were at fault –  . see below.  Contact your bank immediately if you notice an unauthorised payment from your account. .  If you are sure you did not authorise the payment, you can claim a refund.  .  However, your bank does not have to refund you if you do not tell it about the payment until 13 months  or more after the date it left your account.  .  Your bank must refund an unauthorised transaction  .  ------------------  .  Your bank may only refuse a refund for an unauthorised transaction if:  .  ? it can prove you authorised the transaction  – though your bank cannot simply say that use of your password,   card and PIN proves you authorised a payment; or .  ? it can prove you are at fault because you acted fraudulently,   or because you deliberately,   or with gross negligence, failed to protect the details of your card, PIN or password in a way that allowed the transaction  .  -----------------------  .  How quickly must my bank refund me for an unauthorised transaction?  .  The bank must make the refund immediately unless it has evidence that one of the above reasons applies.   Your bank may ask you to answer some questions and fill out a form confirming what has happened,   but it cannot delay your refund while it waits for you to return the form.  If the bank has evidence that one of the above reasons for refusing a refund applies,   it may investigate before making a refund   but must look into it as quickly as possible.   If your bank rejects your claim for a refund it should explain why.  If the transaction was on a credit card, the refund may not happen immediately.   But the card issuer cannot charge interest or ask for repayment of the amount unless it can prove you are liable to pay    
    • Do you ever sleep?  Just as well you had a holiday to have  a bit of a rest 😀   More seriously, well done on all your legwork, this Annie is damn lucky, all your preparation will stand you two in good stead for sending VCS back under their stone.
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steved1968

GE Money Home Lending - Help & advice needed please

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[ATTACH]42796[/ATTACH]

 

[ATTACH]42796[/ATTACH]

 

Good evening,

 

I have been reading some of the forums recently with regards to GE Money and would like some of your expert advice please. Let me summarize...

 

 

 

  • Took out a loan for £26,000 ( Secured) in March 2005 over a 15 year period
  • Had difficulties early on in the loan and started to incur some charges and additional interest, this was then on/off like this for the next 7 years. With repayment plans put into place etc etc
  • Seperated from my Ex Wife in 2011 and ended up having to sell the house for a large loss due to pressure from GE Money & Halifax
  • Paid off the GE Money loan in January 2012

Now....I am ready to take these guys on :mad2::mad2:,

 

I requested a SAR which came within 2 weeks (yesterday),

 

I have been through this document today and the anger grew as I listed all the charges that had been applied to the account over the 7 year period!!!

 

It seems to be over £7,000 pounds in admin fee's, additional interest, solicitors fees, lunch for GE directors ( made that one up :wink:)

and I am very very confused how they distributed the final payment which I will summarize later.

 

I am going to attached a full excel spreadsheet showing my findings but below is a brief summary which may give you some idea of what I want to claim and if I can??

 

Charges I think I can claim

 

NARRATIVEFEEADDITIONAL INTEREST£3,387.61

ADMINISTRATION FEE£2,000.00

SOLICITOR INTERIM LEGAL FEES£1,089.86

INCOME ON EARLY SETTLEMENT£353.92

REFUND OVERPAYMENT 999999 CHAP£204.16

INTEREST DUE DATE CHANGE£130.01

REPAYMENT OF ADMIN CHARGE£84.00

DD RECALL CHARGE£65.00

DEFAULT NOTICE CHARGE£65.00

INTEREST ADJ£5.38

£7,384.94

 

Summary of the loan

 

ACTUALTOTAL MORTGAGE PAYMENTS£33,111.02

FINAL PAYMENT£28,006.26

£61,117.288 2MONTHS LESS INITIAL LOAN AMOUNT£26,000.00£745.33TOTAL COST OF LOAN£35,117.28ORIGINAL LOAN PLANINITIAL LOAN AMOUNT£26,000.00180£404.76

Months/Payment£72,856.80

 

 

 

In the 82 months I was paying this loan my average monthly payment was £745.33!!!!!!!!!

 

Final Payment Redemption

 

Below is the last few transactions on the loan account before it was cleared, I am confused on what all these payments mean, in particular the payment for repayment of fees and additions ( £4,539.22)

 

DATECODENARRATIVEDEBITCREDITBALANCE26/12/20114004ADDITIONAL INTEREST£67.60£0.00£27,498.4106/01/20124443REDEMPTION ( TT THE LAW PRACTICE)£0.00£28,006.26-£507.8508/01/20124004ADDITIONAL INTEREST£3.93£0.00£503.9209/01/20124444INCOME ON EARLY SETTLEMENT£353.92£0.00-£150.0009/01/20124439SOLICITOR DISCHARGE FEE£66.00£0.00-£84.0009/01/20124342BLANK?£84.00£0.00£0.0009/01/20124420REPAYMENT OF ADMIN CHARGE£0.00£84.00-£84.0009/01/20124414REPAYMENT OF FEES AND ADDITION£0.00£4,539.22£4,623.2209/01/20124416REPAYMENT OF CAPITAL£0.00£20,622.58£25,245.8009/01/20124063BALANCE TRANSFER ON SETTLEMENT£25,245.80£0.00£0.00

 

 

 

Please based on the above could you give me some advice on the following

  • Can I claim back all the charges? If not which ones do you think I should aim for?
  • If yes to the above, what is the next suggested move?
  • Can I claim back interest on these charges? I have used 8% on the charge calclulator ?( Tab 1)
  • Do the redemption figures look correct?
  • Figure on the calculator shows £9k + does this mean I have to go to court?

I am really sorry that it is such a long thread for a newbie bit wanted to try and give you as much information as possible to try and get some valued comments

 

Hope someone can help :-D

 

I will keep this thread as fully up to date as possible with all my results to aid other people in there claims.

 

Regards

 

Steve

 

Excel Sheet

 

Tab 1 - Compound Interest Calculator

Tab 2 - Summary of charges and mortgage payments

Tab 3 - Full breakdown of charges by date

Tab 4 - Final Redemption Summary

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very dif to read some of that.

 

can you not PDF some of it

 

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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Hi dx

Can you see the excel sheet that is attached, has all the details

 

Thanks

 

Steve

 

 

very dif to read some of that.

 

can you not PDF some of it

 

dx

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the blues a bit dark for the text.

 

if that a reclaim spread

you can't reclaim additional or any interest entries.

 

as this is a secured loan that they charged int on the bal every month [inc the PENALTY] charges]

you should be using the foscisheet.

 

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 can reclaim additional interest charges that are added to statement

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Hi DX

 

Can you point me in the right direction of the foscisheet??

 

Thanks

 

Steve

 

 

the blues a bit dark for the text.

 

if that a reclaim spread

you can't reclaim additional or any interest entries.

 

as this is a secured loan that they charged int on the bal every month [inc the PENALTY] charges]

you should be using the foscisheet.

 

dx

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Thanks Sheila

 

I have looked at yout thread at that just makes me even more determined to get these people

 

Good luck and I will keep you as updated as possible

 

Thanks

 

Steve

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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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Can anyone please advise what cover letter should go with this claim ? Your help would be appreciated

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So you can reclaim additional interest charges that are added to statement

 

no you cannot

that was a typo

 

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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Can anyone please advise what cover letter should go with this claim ? Your help would be appreciated

 

you can adapt the credit card charges reclaim letter from the library top left

 

 

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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Morning All

 

Letter sent 24th April recorded post for charges and additional interest, they have now sent me a letter saying they have 8 weeks to look into this?? Is this correct?

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yes sadly

 

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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Good Afternoon All,Happy Friday,

 

well I received a very quick reply from GE Money virtually saying thanks for the letter but get lost because we are right.

 

They are saying that they are well within there rights to charge £40 admin fees and I signed up for that at the start with the credit agreement.

 

They are asking why I think it should be less?

 

I am a little confused how to reply,

 

I am attaching the letter back from them along with the initial credit agreement we signed

 

.Please could someone have a look and see if I can at least reply and say you are wrong and the amount charged was illegal .

 

I am also attaching the letter which I sent them which shows In total for a £2k0 loan

 

I have paid back over £61k ( average £745 per month) through 82 months of the original loan period of 180 months,

 

if I would have continued to pay at this rate I would have paid back a staggering £134k

 

I know everyone is busy

but if anyone could help

 

I would be very grateful

 

Regards

 

Steve

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att un-approved your name isshowing.

 

i'm not sure where this went wrong

 

but you cannot reclaim the add int unless you can prove it was all due to their PENALTY charges.

 

you cannot reclaim the sols fees as its been to court

they are allowed to charges them to the account.

 

it seems to me you placed the claim with checking back here first.

 

the only fees you can reclaim are those detailed as

 

admin fees.

default notice fees.

dd failure fees

 

as for the £134 k bit astonishing!

 

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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Hi DXThanks for your prompt reply, noted that I left my name showing but not overally concerened about this unless it is against forum rules.Noted your comments with regards additional interest but I am sure I have read or been informed that this is OK to reclaim?? Is there a standard reply with regards the admin charges on how I can justify that these are in fact unlawful and unjustified? Any help would be appreciatedRegardsSteve

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the FSA now the FCA

 

on PENALTY charges

 

clearly stated that ANY punitive fixed sum penalty charge must reflect the 'ACTUAL ADMIN COSTS' of the company.

 

mere ly stating they are on / in our T&C

or that we confirm they ar a suitable level is bowlarks.

 

sadly you'll find whatever you want out of GE

 

they ALWAYS wriggle

 

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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