Ge home money lending - charges reclaiming

[dx100uk]

well done

so now open a new copy of cisheet

in the interest box at the top left put in 7.79

 

 

off you go with the rest

[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.

 

[Desperate and frightened]

Thank you so much Dx, top left box is claimant name, do you mean int rate apr box????

Thank-you slick will do!

[slick132]

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

 

[Desperate and frightened]

Thank-you both, Dx and Slick. Here it is and what a difference. Sincere thanks to you both. I would never have believed it amounted to this.

What do I do now? Court action or contact them??

[dx100uk]

payment made at bank ones cant be included ..sorry

 

 

good total mind!

 

 

dx

[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

 

[Desperate and frightened]

Thank-you so much Slick. The template states late payment fees but their £40 charge was for being in arrears. Do I amend the letter?? Also, I have bank stamped receipts in my paying in book from the payments I made at the bank but they were not applied to my account. Shall I enclose copies of those with the letter?? It will prove I made the payments.

[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.

 

[Desperate and frightened]

Thank-you Slick you're a star!! I will send it off tomorrow but whos attention shall I mark it for??

[slick132]

I'd mark it :-

 

For Attention of The CEO

 

[Desperate and frightened]

Hi!

 

 

Sent everything off recorded delivery, got a signature,

 

 

its now been over 2 weeks but nothing from them.

 

 

Court action????

 

 

I have still been working on this and have noticed after I borrowed (from family), and paid off a huge amount of my mortgage

they still continued charging me the same amount of interest plus additional interest.

 

 

I know i am not that smart but this can't be right.

Surely as a majority of the mortgage had been decreased the interest should be lower!

 

I have printed off some cag information on small claims procedeure shall I now go ahead with it???

 

Can they proceed with closing my account with them whilst I am in dispute with them?

 

 

Please advise

 

ps. thanks so much for all your help so far, it has boosted my confidence in my capability!

Edited February 10, 2015 by Desperate and frightened

[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.

 

[Desperate and frightened]

Hi Slick!!

You are my guardian cag angel!!

Yes I sent the prelim claim letter, the spreadsheets plus a covering letter requesting an upto date statement etc but to no avail.

 

 

I have printed the receipt from Royal Mail showing proof of received delivery.

 

 

So Sorry Slick but what do you mean by iba marked as such??

so sorry don't understand.

 

I followed the link from iba and I thought that I had to lodge my appeal at the local court.

 

 

I may have got that wrong???

Edited February 10, 2015 by Desperate and frightened

[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 !

 

[Desperate and frightened]

Dear Slick, firstly thank-you and please accept my apologies for delay,

but since I got your reply and got home today, I have been working on the temp letter you linked.

 

 

. But , as usual, tried to get back to CAG but had a load of gumph, ran glarys, but had to wait for alternative help to remove c**p

that somehow has got on here! Sincere apologies.

 

 

Can I just clarify one thing with you, on the pre action letter, there are 2 options.

 

 

I have opted for the 2nd.

 

 

can you please advise as to whether resitutionary interest is the same as compound interest.

 

 

I know that I have to adjust the template accordingly but if I word it using the word compound instead of retitutionary is that ok?

[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.

 

[Desperate and frightened]

Hi Slick, sorry for not replying, I had malware,

whilst deleting the rubbish I deleted something else so lost my computer until it was restored by a professional!!!

 

Received 2 letters from them today,

first dated 20/2/15 stating

 

 

"We are writing to let you know that we have received the final amount you paid to redeem this account.

This means that our solicitors have been instructed to discharge the account and remove the legal charge against the property.

Please cancel any direct debit or standing order you have set up to make payments to this loan.

If you have any questions, please contact us...."

 

 

The second dated 23/2/15 stating

" You will recall that we wrote to you explaining that we are looking into your concerns and would be back in touch with our findings."

They never did, this is the first I have heard from them except for letters telling me that I have to settle my account before 3/3/15

with outstanding balance of approx £1100.

 

 

I have paid nothing since

 

 

how can they close my account with this amount outstanding??

 

 

They then go on to say

 

 

"We are sorry that we are not yet in a position to respond to your complaint in full.

As you are aware, we aim to give you a full response before 23/3/15, which is 8 wks from the date we received your original complaint.

 

 

If you are unhappy with the progress being made at that time, you have the right to contact the arbitrator.

If we can help with anything in the meantime, please feel free to contact us..."

 

 

What should I do ?

I thought my account had to be active to take them to court,

and how can they shut my account whilst there is

a) money outstanding on it and

b) an ongoing dispute.

 

 

Please help!!

[SabreSheep]

You stick to your timescales not theirs. 8 weeks is the deadline b4 referring to FOS, but you are going for court action.

 

Did you post the LBA?

 

 

As you are RECLAIMING, the account does not need to be active.

[Desperate and frightened]

Thank-you sabresheep, yes sent letter before action 2 wks ago tomorrow, sent recorded delivery, was received and signed for 2 wks this coming Monday. When do I file, 2 wks from when I sent it or 2 wks from them receiving it???

[SabreSheep]

id go with 2 weeks from them receiving it

[Desperate and frightened]

Ok. Thank-you!

[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.

 

[Desperate and frightened]

Hi Slick,

 

 

The account isn't in arrears.

 

 

I have taken a lower interest loan from family which I can afford, until I sell up and pay in full.

 

 

The total outstanding mortgage now is only £1100 but they seem to have written that off after reading the letter that I received today.

[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.