Ge home money lending - charges reclaiming

[slick132]

Hi D&F,

 

Clicking on our CAG admin link won't help you as it refers to Admin at CAG !

 

You should be looking to include on your spreadsheet any admin fees that you were charged such as :-

 

Late Payment

Missed Payment

Bounced or Returned Payment

Visit Charges

 

Can you identify these from the data that you have.

 

[slick132]

Hi D&F,

 

Even if you failed to make a payment when required, any penalty or admin fee charged as a consequence should be reclaimed as an unlawful penalty charge.

 

List on a spreadsheet all the penalty charges you have data for.

 

[slick132]

Hi D&F,

 

There are, I hope, folk around that are more knowledgeable about GE cases. However, ..............

 

Default notice charges should be reclaimed on your spreadsheet.

 

If you're using a compound interest spready, use the interest rate used by GE on the a/c.

 

I don't know about the "Transfer MIS- Misc adjustment" entries.

 

Hopefully, others will comment ...........

 

[slick132]

Hi D&F,

 

I would use just one spready for all the charges over the years. Do not enter the solicitor charges on it for now.

 

The spreadsheets all show a very low interest rate - perhaps the monthly rate. You need to enter the APR on the spreadsheet to get the right figures. use an average figure as previously suggested by DX.

 

[slick132]

Use the rate of 8% on the ONE new spreadsheet which will include all charges but no solicitor fees.

 

Let us know the new results.

 

[slick132]

The box that says "Interest Rate (APR) - change this to 8% and list all the charges on that one spready.

 

[slick132]

Yes, those figures look right now and reflect the effect of compound interest on older charges.

 

I'd be inclined to submit the spreadsheet to the bank as it is, including - pay'ts made but not applied to the a/c; debt counselling visits; misc, etc.

 

When/if you come to issue court proceedings, you can remove any dubious figures from the spreadsheet.

 

You need to use a Prelim Reclaim Letter followed a LBA 14 days later. See the Reclaim letter here in the Library - http://www.consumeractiongroup.co.uk/forum/forumdisplay.php?407-Mortgages-and-Secured-Loans

 

[slick132]

Always adapt any template letter to reflect your individual case.

 

However, the template letter goes on to say, "Thus I am asking that you refund the charges and other fees which have been levied ......".

 

This would be fine for your case but you need to mention restitutionary interest as well, so you could instead say :-

 

Thus I am asking that you refund the charges and other fees which have been levied on my account, plus restitutionary interest as shown on the enclosed Schedule of Charges.

 

[slick132]

I'd mark it :-

 

For Attention of The CEO

 

[slick132]

Hi D&F,

 

If the letter you sent was your Prelim Claim letter, you can follow that now with your LBA, which should be marked as such.

 

RM Signed For post and keep the receipt.

 

[slick132]

Hi D&F,

 

See the template letter here - http://www.consumeractiongroup.co.uk/forum/showthread.php?405889-Reclaiming-Credit-Card-Charges-Preliminary-Letter-Before-Action

 

Use the same letter as your Prelim Claim letter but add the heading Letter Before Action as per the template guide.

 

While you wait for the 14 days to pass, use your time researching how to proceed with court action; completing Claim Form N1; preparing your PoC's; how to use CCMCC. There's plenty to keep you busy !

 

[slick132]

Hi D&F,

 

I would use the phrase - "I calculate that you have taken £xxx in charges and I also claim compound restitutionary interest of £xxx, making a total of £xxxx."

 

That should cover all bases.

 

[slick132]

Leaving aside the recharges claim for a second, do you agree that you own a final £1,100 to close the account.

 

If so, are you able or willing to pay this to avoid further problems with the a/c being considered to be in arrears.

 

Your reclaim will not be affected by the loan a/c being open or closed.

 

[slick132]

I very much doubt they have written anything off and I suspect the letter, that says the a/c is closed, was sent in error.

 

You need to check and see if they still expect the closing payment(s).

 

If they DO expect further payment, and you fail to pay in full, this could cause further CRA markers.

 

[slick132]

Hi D&F,

 

I've just been back through the thread to review events to date.

 

It seems possible that they have, indeed, written off the final amounts due by giving you credit for the amounts which you say you paid, but they failed to credit to the a/c.

 

However, this needs to be confirmed by GEM before you can assume this is the case.

 

You don't have to wait for GEM to finish their "investigation" into your claim for penalty charges refund. You can proceed as soon as you have your SoC and claim papers ready. Probably best to file the claim via CCMCC, instead of using MCOL.

 

[slick132]

Paragraph 3 of my thread ?? Do you mean YOUR thread here ?

 

We're nearly at the end of Page 4 so if you didn't understand abbreviations, you should have shouted earlies.

 

Let us know exactly what abbreviations you're unclear of, and we'll help.

 

But you also really need to be up-to-speed if you are going to take the bank to court and win.