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harris1997

GE Money - Unregulated Loan taken out July 2006

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They can't make you pay more off the arrears without going back to court.

 

Prepare a spreadsheet with all the extra charges and interest with amounts both before and after the court order and take this to court with you. Include the legal fees for when they failed to turn up. Others will be able to offer more advice I'm sure, but I suspect the judge won't be impressed by all the added extras.

 

You've stuck to the court order so I don't see they have a cat in hells chance of evicting you so try not to worry. :)


 

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Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Hi

 

Thanks for the advice i will get on to completing a spreadsheet of the charges straight away

 

 

shall i include the normal interest or just the additional interest amounts they charge? :-)

 

 

I just cant wait to get it over with.

 

 

It doesn't feel like it is nearly Christmas with this looming!

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Just any extra interest over and above the normal amount, and any there may be on charges.

 

I don't know if you've seen the thread about a recent case on unfair increases in interest rates. It may be relevant to your case too.

 

It'll feel like a go


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Thanks, do you have a link to the thread or can you let me know what it is called? how will i know if they have added any to the charges? thank you

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There's a link here. Not sure if it will be of help to you but worth a read.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?411012-FAO-anyone-with-a-Firstplus-secured-loan.&p=4413953#post4413953

 

I'll see if I can get some help with your interest question .


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Hi

 

Dropping in as requested by Caro.

 

I have had dealings with GE and on that case even their solicitor said to get away from them as soon as humanly possible.

They are a nasty bunch and should stick to what they are good at which is light bulbs.

 

Trouble is, when you are in arrears it will be extremely difficult to get another lender with whom you can remortgage.

 

The FCA (formerly the FSA) published a paper which said it was unfair to charge arrears charges when a borrower is in an agreed payment arrangement.

As a result any such charges which were put on to the account under those circumstances should be refunded to the account plus any interest charged as a result.

 

That is not the only reason because those charges are unlawful anyway because they do not represent the true cost to the company

following the breach of contract (i.e. the failure to make payments).

 

You should be claiming back the £40 charges plus the interest charged as a result of them and that will bring the overall balance down.

 

Generally, GE do not add the charges to the arrears figure.

If you look at your statements carefully you will see that they pop your charges and legal fees into a distinct pot

and any payments you make over and above the CMI must come off the arrears first.

Again, if you examine your statements carefully you should see that this is the case.

 

However, your overall balance is increasing due to the charges and legal costs being added

and what they (and all lenders do) is add those charges and fees to the overall balance and charge interest on them.

That will be mentioned in your T&Cs somewhere.

 

This is why they increase the CMI because these additional costs add to the balance outstanding

and in order to clear the balance at the agreed time the CMI has to increase by a few pence or a few pounds to cover those.

 

If you find that the extra payments being made over and above your CMI are not going to the actual arrears balance

then GE are in trouble, especially if the court have order that to clear the arrears it will be at a rate of CMI plus £x.

That £x must be allocated to arrears, not anything else.

 

So, when you reclaim the unlawful charges, you would use the interest rate that you have been charged on the account.

This means that you get the charges back plus the interest they have charged you.

That reduces the overall balance and should reduce the CMI slightly.

 

In respect of charging a solicitor's fee when no one turned up at court,

I would challenge them on that as well since you would have been charged on a time basis (or an estimate thereof)

and if no-one pitched up then you should ask for a detailed breakdown of that charge.

 

Have you been charged for home visits/counsellor's where they didn't turn up or which you did not agree to?

That is another ploy for GE to make money out of you.

If you have been charged for these under these circumstances claim those back as well together with interest as discussed above.

 

Hope this helps.

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Thanks ims.

 

Hope that helps Harris. :)


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Great advice thank you both so much I am really grateful:-) I will have to read it again for it to sink in and understand it!

 

Yes they have charged for someone calling when i have refused and when the man came I sent him away and told him I already had a payment plan. I will ask for a breadkdown of that solicitors charge.

 

They are nasty!:-x

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I know it's a lot to take in but I hope you'll find it worthwhile. The more prepared you are with ammo for court the better your chances of helping the judge to see that you've done everything asked and GE should take a running jump.

 

It's very empowering turning the tables and taking charge. Better still when these unfair charges are reclaimed.

 

Keep us posted and come back if you have any more questions.


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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If the company refuse to repay the charges with the interest then a complaint to the Financial Ombudsman should be filed. This is a very stressful time fighting this eviction, especially as this has been going on since 2007. May I ask what interest rate you are on?


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I will pull out the loan document and come back to you re the interest rate tomorrow.

 

I have just finished putting together the spreadsheet of all the additional interest, admin charges etc together as advised..........

 

Amount in total since the start of the secured loan to date is £10525.01:x

 

Previous to May 2009 charges are £4815.54 since the order in May 2009 ( when i have paid the amount agreed in court every month) total charges £5709.47

 

Can someone please advise me how i should put this to the judge and defend the warrant of eviction when i go to court and should i start the process of claiming these charges back now or wait till after i have been to court.

 

Thank you so much for all the advice so far i am really grateful :-)

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UKaviator - Interest rate is 7.75% per annum over the barclays Bank base lending rate.

 

The original agreement document stated - 'Interest rate 12.25% per annum fixed for an initial period of one month from the date of this agreement (4 July 2006) and thereafter at a rate of 7.75% per annum over the Barclays Bank Plc base lending rate from time to time (base rate)'

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Hi,

 

Any pointers for what i can say to the judge next week in my defence, I have completed spreadsheets as previously advised just wondering if there is anything else I should add and should I begin claiming the charges back now?

 

Thanks

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I think it's worth you putting in your claim now.

 

Have you read ell-enn's repossession guide which I think you'll find useful. http://www.consumeractiongroup.co.uk/forum/showthread.php?325527-CAG-guide-Are-you-facing-eviction-or-repossession&p=3603854#post3603854

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What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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D day is looming tomorrow,

 

 

however today i received a call from GE who left a voicemail on my phone.

It wasn't from one of the many usual numbers and was not the automated message that left me a voicemail for a change it was a human being.

I tried to call them back this evening when I came home from work.

 

 

The department that was dealing with my case had left for the evening.

I am suspicious as to why they have rang me so close to the court date,

probably to hassle me into paying a lump sump.

 

 

I will not usually deal with them over the phone but thought i best ring them back incase they say tomorrow that I will not talk to them regarding my account!

 

Anyway tomorrow is a new day i will await another call from them in the morning before my afternoon court hearing!

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Even if you get a call in the morning and you manage to sort something, still go to court in case they don't get the proceedings halted.

 

Have you put in a claim for charges?


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Hi Car

 

I have sent a letter to get the ball rolling on the charges on Tuesday, so will wait to hear back from that.

 

Yes, i def intend to go to court tomorrow because if they do ring asking for a lump sump

I can not afford to give them anything so I don't think they will be happy with that.

 

 

I have all my spreadsheets printed that show all my payments since our last court appearance

and the fact that in over 4 years despite paying an extra amount each month

the arrears have reduced by only £350 roughly after all this time

due to the charges and additional interest they add each month!

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Good stuff. :)

 

I suggest that you take 3 copies of everything so you have one, and you can give 1 each to the judge and the other sides legal rep.

 

Have you read ell-enn's repo guide and prepared a statement?


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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I have 3 of each, i sent a witness statement when i requested a hearing but i have since read the info from ellen. I have not prepared a new defence statement, do you think i should have done? At the time i sent one to the court and a copy to ge solicitors.

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Can you post what your statement says please?


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Hi,

did you check with the court that they received your defence statement?

If not, make sure you take copies of that too.

 

Get to the court early and ask the usher if they can put your spreadsheets in the file for the judge to read before the hearing

- make sure your name and case number are clearly written on them.

 

Also, if there are any duty legal advisers at the court approach them and ask for their assistance,

 

they can accompany you into court and support your case.


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Caro - i will try and upload tomorrow as i am having mega problems with my internet tonight do currently replying by phone.

 

Ellen - yes they received it as they sent a copy back with the hearing time and date. Thanks for the advice i will do what you say tomorrow. Just hope i sleep ok tonight!! Hearing time is 14.40. Everything crossed!

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Yes the court staff will know if there are duty advisers.

 

Good luck for tomorrow, looking forward to hearing good news :)

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Help us to keep on helping

Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

This site is run solely on donations

 

My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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Don't worry about posting you defence if it's a problem. Just concentrate on preparing yourself for court and getting there in good time.

 

Obviously if you have any questions before just ask.

 

Good luck. :)


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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