GE Money getting serious notice to say 7 days or court action

[laineynic]

I have a mortgage with GE Capital and have had this for 8 months now. Last month my husband went from being paid weekly to monthly which falls on the last friday of the month. My pay day is the 28th of the month.

 

I contacted GE to advise them of the change and asked them if we could move the day our mortgage is due from the 20th of the month to the 28th of the month. They wrote back and advised us that yes we can move it but it will cost us £188.00 in interest to do so. I couldn't believe they could charge us so much. They tell us it is due to the loss of interest.

 

Our previous mortgage company charged us £25 for administration charges, which at the time we thought was scandalous, but this it takes the biscuit.

 

We habe no choice other than to pay this, otherwise we will incurr charges for not having the money available on the 20th of the month.

[patdavies]

Depends how big your mortgage is.

 

What they are, in fact, asking for is the interest for 8 days as in the month that you are moving to paying on the 28th, you have an extra 8 days in the 'month'

[laineynic]

Thanks for your reply Pat

 

But I am not sure what exactly you mean by your comments.

 

 

I still maintain that GE Capital are demanding an excessiv amount to move a mortgage by only 8 days.

 

 

I have consulted the citizen advice and they also feel that to demand a payment of this amount is extortionat.

 

They also asked me if I was given any option dates to make payments i.e 1st or 28th etc. But I wasn't.

 

At £180 for 8 days this to £22.50 per day this means that £675 of my mortgage is interest?

[rosysparkle]

Very probably!

 

If you put the term of the mortgage and the interest rate into a mortgage calculator

such as Mortgage Calculator Tool - Easy to use online tool and lots of helpful hints and tips

you can see just how much of your payment is interest and how much (or how little, especially in the early years) is capital repayment.

[laineynic]

Due to bank charges,

my husbands wages and

having to make a month of work due to an eye operation,

 

 

for the first time ever we have gone into arrears with our mortgage. It is now behind by about £1400.

 

We contacted GE money and spoke to thm, and told them all about our problems.

The person who we spoke to was extremely helpful and seemed very sincere.

 

Yesterday we got a phone call from the collections department to advise us that the payment was late.

I told her that it had left my bank and should be with them in the next couple of days.

She went on to tell me that were we aware that we are being charged £40.00 per month for the fact we are in arrears.

I was shocked to say the least,

maybe a little naive but I was under the impression I was given that once a payment plan was put into action we would not be charged?

 

 

I told the lady concerned that in effect the £50 per month additional is actually only paying £10.00 of the arrears

and they are set to gain £480 per year which will take us forever to pay the mortgage back.

"Yes she said, but you should never have gone into arrears."

 

I lost my temper than and told her what is it these days with banks as everything seems to be charge, charge, charge.

She then put the phone down on me.

 

This morning we received a default notice from GE,

which I am even more angry as we are supposed to have an arrangement which stops this action.

 

We are owed £3250 from the lloyds TSB, Nat West and Abbeynational in bank charges.

We wrote to all three saying that we are suffering severe hardship at the moment

and a standard letter came back to us saying that as the test case

had not been decided eyc etc we were not entitled to our money back.

If we could have got that back we would have been able to clear the arrears.

 

No wonder GE willingly said they would do everything to help us,

they are making money out of when we can ill afford to pay it.

 

 

Does any one have any advise as to what we do now?

[Ell-enn]

Hi there, the £40 per month charge should be added to the outstanding mortgage and not included in any arrears amount. The £50.00 extra you are paying each month should be reducing the arrears. If they are adding the charges into the arrears then you need to write asking for a detailed statement so you can see what they are doing.

[jansus]

Also you need to try again to reclaim your bank charges - we have several successes recently on another forum using the most recent waiver guidleines and if you give authority to pay the charges direct to mortgage arrears it often helps.

[laineynic]

We fell behind with our mortgage last year when my husbands company was taken over.

There was a mix up with wages and it meant we lost £2500.

We fell behind with the mortgage and many other things.

 

GE Money where extremely helpful,

they accepted a payment plan of an additional £60.00 per month.

This was revised every 6 months and each time they reset it.

 

Then on Tuesday evening out of the blue we got a call from a young obnoxious arrogant and rude excuse for a human being,

He launched into us telling us that the arrangement was now at an end and he wanted £1200 this eveing to clear the arrears.

 

 

We told him we hadn't got it,

 

 

he said that the arrears had now been outstaniding for too long and that they had to be cleared in 4 months.

No matter what we said to him he was adament that he was not going to get of the phone until we paid the full amount.

 

We told him that an agreement was in place until September and that we were told that as our mortgage is due to be changed in October

that other options would be made available to us then

- the words of customer services not mine.

 

 

"No" - he said that would never have been told to us and payment plans are only for 2 months and 6.

Well someones lying and it isn't me bacuse we have had a 6 month arrangement.

 

He even told us that the mortgage was more priority that food, gas electric water rates, rates etc.

Which we now, but he was suggesting that we cust back our food bill to pay them.

 

I eventually got so angry at him that I told him he was an idiot and that GE money where no better making threats of this nature.

I told him that we will continue to pay what we could afford and he said in order to stop action then we would have to raise our £60.00 per month

to a minimum of £240 on top of the mortgage.

We just can't do that.

He told us that Ge money would now take action against us.

 

We got a letter today from ge money telling us that we are to be refferred to their debt counsellor and that this would cost us money for doing this.

So to be counselled we have to pay for it along with everything else.

 

I have asked for my charges back and they have refused.

We have already been in contact with the Natiional Debt line and they helped us work out payment plans which we have stuck to.

Yet Ge Money, Capital 1. Npower and HFC seem to do their own thing and do not believe in payment plans.

 

I don't know what to do next. At the moment I have 2 cases with the FOS, do I need to seek there help against GE Money as well.

Elaine

[Ell-enn]

You need to write to GE enclosing your budget sheet (even though you have already given them one) telling them you have no need of their debt counsellor, not will you be paying for it!

 

Remind them of the Civil Justice Council Mortage Arrears Pre-action Protocols and that you have stuck to the arrangement you made.

 

The amount they claim is arrears - are there arrears charges included in that?

 

If you need help with a letter please let me know and I'll happily draft one for you.

 

Ell-enn

[laineynic]

I have been checking my file through credit expert. There are a number of things wrong and wondered how I put them right.

 

I am currently in dispute with Capital one over charges, lack of help when I needed it, and harassment by phone. The FOS are at present investigating my complaint and she has told me I have a very strong case against them. Looking at my account statement it say I am 8 months behind which is not true as I have been making minimal payments for the last year. They have also placed a default on the account.

 

I asked for my charges back under the hardship rules, they paid me £512 on the 25th October. This account was satisfied in August 2003. It now shows that it is at a default stage and the date is the 1t Nov 2009. I don't owe them any money they owed me it. How do I sort this one out it will now sit on my credit reference for 6 years.

 

Finally We fell behind with our mortgage with Ge Money- at the worse it was 6 weeks behind. Yet the account status says we were 3 months - behind for 4 months and it shows currently we are 2 months. This again is not true as we owe less about 3 weeks.

 

I am sure this affecting our credit rating. All our other debts are under control and we are due to renew our mortgage.

[Guest Old_andrew2018]

Bumping your thread, however have you challenged the CRA

[maybelline]

try looking at the how to get defaults removed threads which include some links. good luck.

[laineynic]

We applied for a loan to buy a new car. We then got a shock when they asked us to explain why we had 3 months arrears on our mortgage. We were completely gutted as we new we had arrears on the mortgage but it is less than a month. We have never fallen 3 months in arrears. We already have a loan with the company who we applied to and have never been refused in the past.

 

This now explains as yo why when we have applied to change our mortgage it has been refused. We cannot believe thay have got it so wrong. We contatced Experian and they told us that GE or FNB have told them this information is correct. What do we do now? We have proof in our monthly statement that we only owe £363 - our mortgage is £663, so how can they do this to us?

 

Is this the way GE money make sure you can go nowhere else

[Jamesx81x]

They have to provide correct information to the CRA's or they are breaking the data protection act.

 

What you should do is contact FNB direct with all your supporting information and ask them to correct their error as they are in breach of the DPA and you will be taking legal action against them if they do not.

 

I would not bother with a complaint to the ICO as you will be waiting forever. If they refuse to correct it then issue a claim against them for breach of the DPA detailing this error is causing you to be rejected for further credit.

[laineynic]

After 18 months of battling Ge Money have finally admitted that they wrongly posted on ourcredit file. They have paid us compansation and sent a letter to Equifax and Experian. I have a copy of the letter in which it states they gave incorrect information to the CRA's in January & February 2010, July 2010 and April, May 2011. That was on the 5th May and to date neither of the CRA's has changed my credit report.

 

I am unble to do anything until this is changed, we are trying to re=mortgage our home. How much longer do I give them to chnage it? I have even posted the copies of the letters I received.

[BRIGADIER2JCS]

Hi, OK , The route to the solution is straight forward,

A formal complaint to the Compliance Managers of The CRA's posting the wrong data,

requiring the immediate removal of it, failing to do so you will report to the ICO

and seek redress via the courts and compensation.

Brig.

[laineynic]

Thank you foryour quick response I will give it a go.

[BRIGADIER2JCS]

Any time, post again if you need help.

Brig.

[laineynic]

We have had issues with GE Money and their attitude towards us.

 

They innundated us with phone calls over arrears in 2010-2011.

 

After a long drawn out complaint the FOS ruled in our favour and told Ge Money they had behaved in an unprofessional manor.

We were awarded a settlement and GE Money were told to sort things with us. That was February 2012.

 

I had to give up work in October 2011 I lost my sight in my right eye and have other health issues.

Because it took so long t sort my benefits out we got behind with our mortgage.

 

In May Ge Money rang to make arrangemnts for them to help

we did all the income and expenditure forms bank statements and a payment plan was set up.

 

The lady told us she would be back in touch in a month to talk about extendidng the mortgage to clear the arrears. But she never rang us back.

 

In October 2012 I rang Ge Money concerned that we had heard nothing.

I was asked to do all the income and expenditure again provide medical evidence and bank statments.

 

Yesterday a person from GE Money rang to go through everything.

 

We wereon the phone for 35 minutes, he made me feel so uncomfortable about why I had left work.

He said at the end of the call that he could not offer us any help at all.

He said we don't have enough income to work out a payment plan and he is not prepared to add the arrears to the mortgage.

 

He said that we should go back to paying the full mortgage and more to cover the arrears.

 

He apologised and said that he would refer our case back to collections. (which will mean constant calls and possible court action) I was beside myself I don't need this.

 

I contacted the FOS yesterday again and we have done a new complaint. I also cpntacted my MP.

 

The complaints department from GE Money have just rung me to say the same thing.

They said it would not be in our best interest to set up a payment plan at this time

- but is it in our best interest to have court action hanging over us?

 

When I told him about the FOS he said he would refer this to the litigation department.

 

When I toldjimabout my MP his tone changed

- he was concerned that I had contacted him.

 

He wanted to know what I had said.

I told him everything.

He said we should have spoken to them before going to our mp.

 

Just wondered if anyone knows what we can do next?

 

does amyone know about a mortgage resue plan?

Thanks in advance

Lainey

[dx100uk]

i wonder how many unlawful PENALTY charges they have levied upon you.

 

got all the statements?

 

i'd look at MCOBS too.

 

dx

[laineynic]

Hello dx100uk

 

I have just checked and there is a 11 x £40.00 charge plus an admin charge of £12.95 x 11. I shall take alook at the mcbos thanks

[dx100uk]

nice little reclaim there then

 

fil this in:

 

This fourth spreadsheet is useful in calculating a regulatory based compound interest award for PPI on a Revolving Credit Account. Not all statements are required for this sheet because it will work out the compound interest on the PPI payments you do know about. It will not work out the additional 8% interest, to do that you will need spreadsheet three above AND all of your statements.

 

FosCISheet v101.xls

 

 

not got any 'compulsory' insurances have you?

 

life/asu/buildings etc

 

dx

[laineynic]

Today I got a final respinse from Ge Money

 

they disagree with everything I have said - say that they have done nothing wrong.

Even though the FOS ruled in my favour which covers the period in November 2011 - February 2012.

 

They also have said that we do not have enough income for them to offer any kind of solution.

 

They do not offer us any help at all and have not indicated what will happen now.

 

They have refunded all the mortgage charges which totals £522.95 which they will deduct from the arrears - hgiher than we expected.

Good news

 

but they have shut the door on us and what we have is no assurances that they will not press for repossession.

 

We managed to scrape together the full mortgage payment for November by askin family to help but we can't do it again in December.

 

My ESA finshes in 2 weeks as its contributions based and I have had my 26 weeks.

 

This is going to be tough as I am not expected to go back to work in the next 18 months if ever.

 

To top it all Nat West Bank took another £66.00 of charges from us due to unauthorised overdraft now making the charges £442.

they refuse to refund even though we have quoted the BCBOS at them and threatened court action.

Everything seems such a mess.

 

After contatcing my MP he has written to the CEO with his disgust at their behaviour,

he has also told me to do the same and exzplain everything.

 

He also said that GE Money had shown only an interest in the Mortgage Rescue Scheme.

These days it is all I seem to be doing contacting cusotmer services, CEO's and the FOS.

I am not sure who the CEO is for GE Money so if anyone has an idea it would greatly appreciated.

[dx100uk]

reclaim is low i make it 582.45 WITHOUT interest!!

 

fill that spready in i gave you

 

dx

[laineynic]

Thanks have tried to use the calculator but it doesn't seem to be working out the compound interest.