Another GE Money nightmare

[ynys60]

I've already started a thread in the repossessions forum section, but thought this section might be more appropriate for this question.

 

GE are asking for a court date to ask for repossession claiming £6000+ arrears, I have to admit we have missed about 3 payments over the years, but this would add up to £960 (£320 per month). The £6000 "arrears" from what I've gleaned on this website is mostly made up of unlawful charges.

 

looking at our last statement each month looks something like this : Monthly installment £320 which is fine, we owe that. But on top they add: Admin fee £40, Modified contract amount £24.24, Interest £126.83, additional interest £21.28, PPI (miss sold) £24.24. At that rate we'll never pay off the loan.

 

So my question is, how many of those charges are "unlawful" and what do I do about it.

 

Look forward to any help, thanks.

[citizenB]

Have you taken steps to reclaim the mis sold PPI ?

 

I would think the admin charges are unlawful - not sure what the modified contract fee is (is this a monthly charge ? - in which case it is probably a new way of earning money). The interest on those charges would be reduced when the charges are reclaimed - interest itself is not unlawful.

[ynys60]

Have you taken steps to reclaim the mis sold PPI ?

 

I would think the admin charges are unlawful - not sure what the modified contract fee is (is this a monthly charge ? - in which case it is probably a new way of earning money). The interest on those charges would be reduced when the charges are reclaimed - interest itself is not unlawful.

 

I haven't taken steps to make any claims yet, but will do so. The"Modified contract fee" is a monthly charge, the interest on a monthly basis seems very high? Would the extra interest be lawful?

[jaxads]

After 28 days, GE Money start to add interest to the charges at the same rate as the loan. That interest should be reclaimed.

 

Are you any further forward with your claim?

[ynys60]

After 28 days, GE Money start to add interest to the charges at the same rate as the loan. That interest should be reclaimed.

 

Are you any further forward with your claim?

 

GE were seeking a warrant for eviction, we managed to borrow £6K to pay them the arrears so this should be cancelled. I haven't decided about a claim yet, but I really should get going on it. It's a pity you can't claim for the stress of dealing with these awful people!

[jaxads]

Make sure you get the possession order cancelled, that way, if you fall into arrears again, they would have to apply for a new order, and not rely on the one they already hold.Good luck.

[ynys60]

Having just spent the best part of an hour on the phone with the complete********** that are GE Money I now feel about ready to explode! Basically they applied for eviction and got their date, 26th of this month, they said if we give them the £6100 in arrears the eviction would be cancelled, we sent them a cheque which cleared last Friday. They also sent us a letter telling us that when we advised them that the funds were cleared they would cancel the order, I've told them the funds are cleared but they won't cancel the order, they also won't check to see if the funds are cleared until Friday. This is getting too close to the eviction date for comfort. Is there anything else I can do? I've kept to my part of the agreement, obviously GE Money don't feel obligated to do like wise. I shouldn't have to lose my home when I've cleared the arrears as asked.

[jacqui_o]

You need to apply for a hearing N244 as urgently as possible and copy that letter and include that in your application............ you reason for asking for the hearing is . THE JUDGE WONT BE BEST PLEASED WHEN HE READ THAT!!!! typical GE....... if its any consolation, they can add these fees on a monthly basis, and if they are nto paid what they actually do, is deduct the fees and charges from your CPM ( contractual monthly payment) and pay the fees and charges, but do not tell you, and you think its those and not actual arrears........

 

The judge will advise to to write to GE and complain and also recalaim from them and if they refuse he will tell you that you can use the courts for this :)...

 

Can I also suggest you contact shelter they are also awesome, and in many cases do the paperwork for you............

 

hope this is of some help