G E Money, PPI and loan charges.

[munitawks]

Hello to everyone on this wonderful site.

I first posted in July in a blue funk, as G E Money were going for repossession of my son's house on an 2006 suspended warrant when my son owed £600 in arrears.The situation was complicated by the fact that his loan finished in 2011,although G E Money continue to take his monthly payments up until the present time,so there was no paper work to 'hang' anything on. Thanks to the advice given on CAG a defence was prepared and the judge granted a Time Order. (Incidentally, four independant local solicitors, supposedly experts in Consumer Credit and Housing Law were approached to take the case, and all declined.)

My son works in the Construction Industry, is self employed and has no time to prepare a case against G E Money, so has asked me to do it for him.

What I want to do is reclaim the charges on his secured loan, but I need your advice.

1.Secured loan taken out in July 2004. Amount was £17,400, comprising of £15,000 for loan and £2,400 for PPI, discovered when I sent SAR.

2. Loan was for 90 months ie 7 years 6 months with Igroup

3. PPI was for 60 months ie 5 years.

4. PPI was apparently brokered by Ocean finance. Have chased the PPI through Ocean finance,Mr P Newey, Ocean Finance and Mortgages Ltd and Cigna the underwriters, Have been told by Ombudsmans Office that PPI was unregulated and in their experience of Ocean Finance unrecoverable.

Therefore I wish to persue G E Money, who took over the loan almost immediately.

My son has had times of hardship over the years and of course G E Money have taken advantage.

5. The amount paid on the loan over the past 9 years is £23,600 approx and G E Money still want £21,000 approx.

6. He has a mortgage on his home with Northern Rock and has no arrears.

Is it feasible for me to go after all unreasonable charges on the loan and lump the PPI in with them? Afterall, he is still paying for the PPI and G E Money are receiving the payment.

All comments will be gratefully received. Thank you for reading.