Ge money - Secured loan Fees reclaim - **WON AT COURTS DOOR** now after legal fees

[jaxads]

We are all aware that GMAC have been forced to repay back excessive charges to customers and now Kensington have too which is fantastic news.

 

Who will be next ---- and which mortgage companies charge what ...

 

For example, GE Money Home Lending Charge £40 per month for an account in arrears - how do they compare with other sub-prime lenders??

 

I'm going to make an approach to GE Money about a refund of these charges and will start a new thread to let you know how I get on:eek:

[shammy36]

Hi Jaxads

 

Good for you !! Lets hope the tide is turning for these sharks

 

Sham

[jaxads]

Kensington - £50 per month for accounts in arrears (plus interest)

[jaxads]

GMAC - £50 per month arrears charges

[jaxads]

After 1 month GE Money charge interest on charges

[landy_alert]

Hi Jaxads:)

 

While we were with Swift Advances (3 years ago) the charges were -

 

£70 per month when the account was being actively managed whilst in arrears

 

£35 per month when the account is being monitored whilst a payment arrangement is in place

 

Not sure what their charges are now though.

 

I've spent the last year trying to get these kind of charges back, but no success as yet - hopefully Swift are high up on the FSA's list!

 

Good Luck with GE Money

 

Landy x

[jaxads]

Hi - I've a closed loan with GE Money (2002-2005) showing adminstration fees of £30 - would it be worth going back for those? or is it a 6 year time limit (i've a feeling it could be 12 for mortgages/secured loans)

 

I've also a present account with GE Money (unfortunately!) which has some charges of £40 per month for administration fees (the only admin they seem to do is send a letter and charge £40 for it!!!!).

 

Thought I might perhaps try the close account first - anyway, will give it a try using the template letters - nothing to lose I suppose !!

[BankFodder]

absolutely. You should go ahead and claim all your charges back from GE money. GE money are acting unfairly and in breach of FSA regulations. They know this because it has been drawn to their attention in other litigation. What they need is a serious slap from the FSA – and this may happen before too long. You will be claiming for the refund of money paid under a mistake and this means that the six-year limitation period begins from the time that you realised the mistake or from when you could reasonably have done so.

 

Have any of these charges impact on your credit file? You should check this out. If they have then you should also be seeking to have your credit file cleaned as well.

 

Be careful of GE money, one of the first things they will do is try to play games with their identity as defendant. They have tried this with various people. Don't let it worry you too much.

 

Once you issue court papers, you will find it very easy to bring them to a position where they will try to buy their way out of it by offering you a settlement of the money.

 

Don't get involved in protracted correspondence with them. If you don't issue court papers they won't treat you seriously. Write to them with an assessment of the money that you want back from them – and anything else that concerns you. If you don't get your money back within 14 days, sue them.

[jaxads]

Right then, will make a start today on the closed account.

 

The account that is still current I take it I'll be asking them to delete all charges and associated additional interest from the account and not charge further £40s. (Given that I've not actually paid the charges yet, they've just been added to the live account.)

 

My credit file is pretty wrecked as it is so I don't think their input will make much difference, but if it gives them extra work to do then I'll get onto that too.

[BankFodder]

they won't pay any attention to you if you answer not to impose further charges. They will only pay attention if you have a judgment and then you send the judgment to the FSA as part of a complaint.

 

Probably the best thing to do is just start dealing with the closed account. If you are prepared to insist on going to court instead of just accepting their attempt to settle it by paying you the cheque, you can then get a judgment against them which will impact on all of their charges and which will deal with the charges on your present account as well. This will delay things in terms of getting your money back from them up on the other hand it will deal with everything that one go. It will also have a serious impact on GE money and will deliver slap that they need.

 

It is up to you whether you want to go this far or whether you just want to have your money. If you did want to push into court, we would help you – but it could get exciting. You don't say what the total value of charges are but I expect that it will probably just be a small claim.

[jaxads]

Hi BF - the total value of the claim would be just short of £1000, although with added interest if charged at the rate they charged it to me ? - would take it to over £1800!! that includes fees payable £20, returned payment charges, £20, administration fees £30 and "additional interest" of between £1 and £5 (all additional interest is interest on the charges).

 

Not sure whether to request all charges only or charges and interest - any thoughts anyone??

 

The current loan - the charges on that (including additional interest) are unfortunately heading towards £4000!!!

[BankFodder]

claim back charges and also any interest which they have already taken on the charges. Total that up. That is the money that you want refunded. After that, you want interest calculated at a restitutionary level – meaning that whatever they and on your money they pass over to you. In the alternative you want 8% statutory interest. Why is there any question that you shouldn't claim your interest back from them? Have they helped you or done you any favours? If you don't want the interest then claim it and then give it to us for the free help that we give you.

 

If you think that the some reason rather not claiming interest will impress them or make them any more compliant, then you have another think coming.

[jaxads]

Hi - sorry I meant at this point asking them for interest on the whole thing at the rate they charged me, ie all charges and additional interest, plus 10.4% - being that interest charged at the time of my loan as opposed to if/when I'd have to serve court papers at 8%. I think I'm confusing myself now - lol!!

 

I'll do my spreadsheet of charges, plus extra interest they charged and 8% statutory interest and see what that comes out at.

[BankFodder]

read up on restitutionary damages. There is lots about it written on this forum. You should be setting your sights on getting restitutionary damages if it goes to court – that have a backstop by claiming 8% statutory interest as an alternative.

 

It's up to you, – but it won't make any difference – when you write to them for the refund of your money add your 8% and say that you want that as well. They have had the benefit of your money all these years. Why on earth shouldn't you have a cut?

[jaxads]

first letter in the post today - fingers crossed, we'll be in for the long haul!!!

[BankFodder]

it will only be the long haul if you let it be that way. They will be anxious to draw things out and to tire you out and fatigue you.

 

You have do stop this attrition process which they will use by filing the claim. That's when it will get turned over to Evershed's. Then the chances are that Evershed's will play games with the identity of the defendant and put in defences that have nothing to do with your claim. They may say that they wanted to go to mediation – even though it is not suitable for mediation. All the tricks.

 

If I were you I would spend the next 14 days drafting your claim form so that on the 15th day you can file it with the court. I'm afraid that there won't be any other way to do this.

 

Don't find yourself in 14 days, with no response from GE money – and nothing ready so that you take at least another 7 to 10 days to find your claim. This makes you look like an idiot and you lose credibility.

 

Get an N1 form from the courts website now and start drafting your claim.

[jaxads]

Hi BF - yes I've read that they have 3 difference guises and will say that you've filed to the wrong company !!!

 

I've downloaded N1 form and will read various threads and prepare for 15 days time - will keep post updated.

[ssshooter]

I'll keep an eye on this thread to see what your outcome is, as i currently have a situation going on with GE...i was charged £30 per month for 14 months by them while i was unemployed, this was due to the fact that the PPI didnt pay my full amount to my loan account. as i couldn't afford the extra £42 per month myself they charged me for the shortfall. They also charged me £30 per month when the PPi company was late with the payments, on top of this they also charged me interest.

 

I am currently awaiting a reply from the PPI company (via financial ombudsman) regarding the mis selling of the PPI & also the broker for the miss selling of the loan.

I shall now get all my paperwork in order this weekend, and shall be asking GE for a refund of all those charges,,,, will let you know how i get on.

[BankFodder]

I'll keep an eye on this thread to see what your outcome is, as i currently have a situation going on with GE...i was charged £30 per month for 14 months by them while i was unemployed, this was due to the fact that the PPI didnt pay my full amount to my loan account. as i couldn't afford the extra £42 per month myself they charged me for the shortfall. They also charged me £30 per month when the PPi company was late with the payments, on top of this they also charged me interest.

 

I am currently awaiting a reply from the PPI company (via financial ombudsman) regarding the mis selling of the PPI & also the broker for the miss selling of the loan.

I shall now get all my paperwork in order this weekend, and shall be asking GE for a refund of all those charges,,,, will let you know how i get on.

Get it all back.it will be easy.

Please start your own thread for this

 

Sent from my phone

[jaxads]

Update - received letter from Resolutions Team stating they will start investigations and will get back to me within 4 weeks. I take it that I stick to my timescales, not theirs, and file a claim at 15 days??

[give me my money back]

Hi Guys sorry to hi jack this thread, i have a claim that i am starting with Ge, the ability to re claim these unfair charges etc, does this also apply to un regulated mortgages from ge money....by that i mean pre oct 2004.

[theotherside]

Hi

 

My advice is to write in and draw this to their attention. The charges would most likely be removed from the account for the time period you were receiving PPI.

[toofiegap]

I am in the same boat want to claim back charges from GE we have complained 3 times abut the 40.00 charges on our mortgage as we were promised they would stop while we were claiming DWP they say yes then add them on again as well as refusing to freeze the interest the are full aware our house is sold and awaiting contracts to exchange after a small glitch has been sorted (thanks land registary for an 50 year old mess up) seems to me they want to eat into the equity to line thier own pockets.

[jaxads]

Received an offer of 1/6 of what I was asking for this morning - not a bad start as I expected another NO

[emanevs]

any particulars of claim that we can download??