GE Money - Unregulated Loan taken out July 2006

[harris1997]

Hi all

 

I am looking for some advice re GE money and a repo hearing set for 20 December 2013.

 

They are trying to reposess for the below reason

1) A warrant of execution shall not issue without the permission of the court where –

(a) six years or more have elapsed since the date of the judgment or order;

 

There was an initial hearing in May 2007 and then another in May 2009,

 

 

since 2009 all payments as ordered by the judge have been made.

GE money have continued to apply a £40 admin charge and additional interest costs each month.

 

 

Despite them refunding me some of these charges, sending me someone else's information and then offering me £50 because of it ( i declined their £50 offer).

 

My monthly payments are 402 i pay 500 each month but because of all the charges my arrears have only reduced by about £59 in all this time.

 

Can someone please tell me are they able to do this even though i have made all payments as ordered in May 2009.

They tried to repossess without a hearing i completed an N244 and sent it to court.

 

What do or can i do to stop this!

It now feels like i have struggled for years paying them

and now they are going to take my home when i only have 3 years left with them!

 

Any guidance would be greatly received as i can't let them get away with this :mad2:

P.S sorry for the length of this post

[ukaviator]

Here is the info you require and can be found here:

 

http://www.justice.gov.uk/courts/procedure-rules/civil/sched_ccr/ccrorder26

 

 

Application for warrant of execution

 

Rule 1

 

(1) A judgment creditor desiring a warrant of execution to be issued shall file a request in that behalf certifying –

 

(a) the amount remaining due under the judgment or order; and

 

(b) where the order made is for payment of a sum of money by instalments –

 

(i) that the whole or part of any instalment due remains unpaid; and

 

(ii) the amount for which the warrant is to be issued.

 

(1A) The court officer shall discharge the functions –

 

(a) under section 85(2) of the Act of issuing a warrant of execution;

 

(b) under section 85(3) of the Act of entering in the record mentioned in that subsection and on the warrant the precise time of the making of the application to issue the warrant; and

 

© under section 103(1) of the Act of sending the warrant of execution to another county court.

 

(2) Where the court has made an order for payment of a sum of money by instalments and default has been made in payment of such an instalment, a warrant of execution may be issued for the whole of the said sum of money and costs then remaining unpaid or, subject to paragraph (3), for such part as the judgment creditor may request, not being in the latter case less than £50 or the amount of one monthly instalment or, as the case may be, 4 weekly instalments, whichever is the greater.

 

(3) In any case to which paragraph (2) applies no warrant shall be issued unless at the time when it is issued –

 

(a) the whole or part of an instalment which has already become due remains unpaid; and

 

(b) any warrant previously issued for part of the said sum of money and costs has expired or has been satisfied or abandoned.

 

(4) Where a warrant is issued for the whole or part of the said sum of money and costs, the court officer shall, unless the district judge responsible for execution of the warrant directs otherwise, send a warning notice to the person against whom the warrant is issued and, where such a notice is sent, the warrant shall not be levied until 7 days thereafter.

 

(5) Where judgment is given or an order made for payment otherwise than by instalments of a sum of money and costs to be assessed in accordance with CPR Part 47 (detailed assessment procedure) and default is made in payment of the sum of money before the costs have been assessed, a warrant of execution may issue for recovery of the sum of money and a separate warrant may issue subsequently for the recovery of the costs if default is made in payment of them

 

 

 

 

 

 

 

You should insist that the charges are refunded and stopped to give you a chance at the arrears repayment. Have you completed an income & expenditure form yet?

 

How much are the arrears and how long is left on the mortgage?

Edited November 28, 2013 by ukaviator

[harris1997]

Thanks very much for the info,

 

 

the arrears are 5k they were the same amount in 2009

they have come down about £40 despite paying an additional £88 per month to clear them as agreed in May 2009,

all the charges they are adding to the loan is not reducing the arrears at all.

Total nightmare!

 

 

I have about 2 and half years left at the end of December.

The debt is a secured loan against the house and no they haven't given me an income and expenditure form.

 

All i received was the form they sent to court trying to enforce the order and they wanted to do it without a hearing!

 

Do you think the court will enforce their wishes.

 

I really appreciate your help, thank you

[ukaviator]

All lenders make administration charges where the mortgage account is in arrears, which are added to the balance and will also attract interest. By paying off £88 per month the interest added to the mortgage is also added to the £50 charge added to the mortgage loan. You need to claim these back and tell the mortgage company to stop adding the charges to the account. I would fill in an income &expenditure form to see how much you can afford towards the arrears. There is a form here:

 

http://www.consumeractiongroup.co.uk/forum/attachment.php?attachmentid=47633&d=1384275448

 

All payments ordered by the judge have been paid so you have followed the order. How long is left on the mortgage? Who is the lender?

[Ell-enn]

All payments you made under the court order should have been allocated to your arrears - not charges ! if they attempt to enforce the order and you apply to the court for a hearing to stop enforcement I can see a judge being extremely unimpressed with their behaviour. Arrears charges should be added to the outstanding mortage not deducted from monthly payments.

 

 

If I were you, I'd write to them by special delivery telling you intend to apply for a hearing in front of a judge to ask why GE are attempting to enforce an order when payments under the order have been maintained since 2009.

 

 

How much were the arrears when the hearing took place in 2009 and how much have you paid during that time?

[caro]

You don't mention anything about interest rates but this thread may be of interest to you. Although it's not about GE, the principle may be the same.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?411012&p=4410037#post4410037

[harris1997]

Thank you all for your replies, all really useful

 

 

In 2009 the arrears were £10526

then after paying 5k the arrears balance was 5525.99.

 

 

As at the 3 October the arrears balance is still 5191.55

as you can see they have hardly decreased!

 

 

On the documents they sent to court they have only shown the payments they have received against the amounts due and the overall arrears balance,

it does not show their charges of £40 each month and the additional interest they are applying.

 

 

I am going to write to simple law to ask them for a list of all the charges they have applied

seems as though they forgot to include this information.

 

 

If i just add up all the £40 since 2009 this totals just over £2400!

 

 

I have a hearing on the 20 December which i assume is in front of a judge

so i am just hoping they can be human and see i have maintained the agreement since 2009.

 

 

Also looking throught their paperwork i have noticed the amount for the loan repo amount has increased year on year from £66 to £144 recently,

this is the amount i was paying £88 towards monthly to clear the arrears apparently.

 

 

Are they able to increase this amount despite the fact interest rates have gone down and not up

 

 

My installment amount is£402

I pay 500 each month thinking this was going towards the arrears.

[harris1997]

not 340 i meant £40

[ukaviator]

Looking at those figures

they have been charging £40 a month,

maybe more with phone calls etc added to the loan amount not arrears, since 2007.

 

 

As you have stated that's about £2400 extra onto the loan over the years and with interest added daily on a mortgage

you will not clear he arrears at this rate.

 

 

You can get these charges back which will make a dent in the mortgage amount owing and you can go back 12 years.

 

 

Charges claims are not subject to section 5 of The Limitations Act 1980, they are covered by section 8.

You can recover all of the charges applied to your mortgage account going back 12 years from the date you issue your claim, so don't wait.

 

 

Try to get a list of all charges made to the account, its all evidence that you have been unfairly treated. How long is left on the mortgage?

[harris1997]

The secured loan finishes in June 2016 so just over 2 and a half years.

 

 

I have written to simply law today to ask them to send me a list of all the chargers that have been added to the account.

 

 

I have said i need it for the court hearing in the same format they sent their other info to the court.

 

 

Does anyone have any advice on what i should prepare to take to court to defend this action.

 

 

Are there any templates to help me get the ball rolling on claiming back the charges.

 

 

Thanks

[Ell-enn]

Hi,

 

 

have a read of this guide here:

http://www.consumeractiongroup.co.uk/forum/showthread.php?325527-CAG-guide-Are-you-facing-eviction-or-repossession

there are examples of how to set out a defence statement.

 

 

If you're on internet banking you should be able to print off proof of all the payments you have made in accordance with the court order.

You then reference that in your statement pointing out that payments ordered by the court to reduce the arrears have been made on time and without fail,

 

 

GE have decided to allocate the payments you have been making to pay off charges which should be added to the outstanding mortgage.

 

 

By wrongly allocating the payments you are making towards the arrears they are keeping you perpetually in arrears

and thus making the situation look more serious than it actually is.

[harris1997]

Hi Ell en, That is great thanks

 

 

i have read it and did not receive any documents from the court,

 

 

what i did was when i received a copy of the application notice from Simply Law on behalf of GE with their reason of

' The Claimant seeks the Couts's permission pursuant to CCR order 26 rules 5(1)(a)

and 17(6) to enforce the order of 14 May 2007 as it is more than 6 years old'

 

 

I completed an N244 to ask for a hearing.

I completed section 10 and continued on another sheet of paper stating my reasons to ask for a hearing that GE didn't want to happen.

 

I then received my court date for 20 December,

I have read the attachment you attached the link for,

should i complete a N11M defence form as well to send in as i have not received one

or should i just prepare a statement to take with me on the day to present my case to the judge

or should I send it in prior to the hearing.

 

 

Also what is the cost

i thought it was £40 which i sent

but the court have sent another letter saying it is £80 and

I need to pay another £40 but they still gave me a hearing date and time.

 

I am dreading it and want to present as much information as possible but I am so nervous,

but I am not prepared to let GE off lightly as I have struggled since 2009 to ensure I paid them and now they are doing this again!!

 

Thanks everyone else for the comments,

 

 

when I read the threads it all confuses me

GE constantly ring me but i know refuse to talk to them over the phone

and have told them this umpteen times they are so incompetent!

 

Thanks once again I really do appreciate your advice and support:-)

[Lea_HTH]

Once a court has made a possession order and suspended it on terms, the mortgagee is not entitled to make monthly arrears charges to the account UNLESS the mortgagor has defaulted on the terms given to him by the court.

 

All payments under the court order are to be made to the CMI and the arrears ONLY. Do a spreadsheet for the court showing what you've paid over the time frame, and what the arrears should now be.

[harris1997]

What is the CMI? is it the main loan amount? thank you

[Ell-enn]

CMI - contractual monthly instalment (normal monthly payment)

[harris1997]

Thank you, I am going to look through all the statementsI have over the weekend and pull the figures together.

[ukaviator]

I would note the times Ge call and get a name if you can. Constantly calling is Harassment and there are laws against this.

[harris1997]

I will do, thanks ukaviator

[harris1997]

I am looking through some old paper work and letters that I have received from GE

one of them states we have increased your monthly instalment and the change has been made to include repayment of 'your fee balance'

I know i may sound dumb but what is my fee balance?

 

I am also trying to make sense of the list of payment they sent to the courts with the arrears balance

this does not show the interest, additional interest of admin charges they charge each month.

 

My CMI is £402

the amount I pay to the arrears is £98

but as mentioned above the arrears have only reduced by £334 since 2009.

 

 

Can someone please explain to me in layman terms how the payments i make towards the arrears should be applied to the account,

should my arrears balance reduce by this amount less any interest they are charging me on the arrears?

 

When i look at the details they sent which shows payments due and payments received I can't figure out what they are doing!

[ukaviator]

Any news?

[harris1997]

No not heard anything back from GE solicitiors yet with details of charges.

 

 

As posted in the post above your reply

 

 

can you answer the question about what the fee balance is on this loan, as i not not sure.

I have the orginal agreement and all broker fees etc were initially added to the loan.

 

I can't make head nor tail of the details they sent with the warrant of possession notice regarding payments.

 

 

I am really struggling to understand it and also why the extra money i am paying each month is not reducing any of the arrears!

[caro]

Do a spreadsheet as Leah suggested showing your payments off the amount ordered by the court so that it's clear that you've been complying.

[ukaviator]

The fee balance is probably the amount that can be added to the overall loan which means they'll get settled over the lifetime of the loan.

[harris1997]

Thank you both for your advice. I will start my spreadsheet with all the payments listed i have made since May 2009 in line with the court order.

[harris1997]

Hi,

 

I have now received the whole statement as i requested from the solicitors. I am feeling confused:???:

I know i sound dumb but I dont understand all this!

 

The letter states that my payment does go towards the arrears,

but i assume because of all the additional interest and £40 fee they charge each month

is the reason the arrears only show as reducing by £350 over a 4 year period.

 

The letter also states that the loan re-optimisation payment has risen effective from the 15th December to £154.44 on top of my £402 monthly installment.

 

 

The court agreement in May 2009 was I paid £500 each month which i have stuck to.

 

 

Can someone tell me if they can just up this payment each month even though I am paying under a court order.

I now assume that this is why my arrears are not going down!

 

Also in May 2009 they have added soilictors costs and they failed to turn up at court

so they have charged my solicitors fees in the April and again in the May.

I know I can not claim these back, however can I ask them if they relate to when they did not turn up as surely i should not be billed for these?

 

I have done a spreadsheet of my payments sent in each month,

i will now do one for the charges and

i have also had a few credits for the £40 charge after I complained to them.

 

 

I will look further up this thread re claiming the charges back,

should i start this before I go to court.

 

I am getting worried now as they have put the payment up and I have only been paying the amount agreed in court in 2009.

 

Can someone please let me know where I stand as I feel I am now going to loose my home on the 20 December, despite making all payments as agreed.

 

Many thanks