GE Money Secured Loans Ltd going for repo - PENALTY charges & PPI?

[Baviaanuk]

Thanks DX

 

I am happy where I am with the charges side although I need a new letter for the PPI claim. As per your advise, my original letter concerned Section 56 of the CCA act (as GE were telling me they were not there at the point of sale)

 

As the agreement is not regulated, I am not sure of which angle to use.

 

Many thanks

[dx100uk]

at the end of the day

 

cca or no cca

 

I don't think that's ever 'swayed' GE money from a decision

 

that being 'not our fault mate!'

 

they very rarely cough.

 

always pass the buck.

 

for the minute

 

i'd use our search inn the grey toolbar on the top right

 

and type in the names of the fingers in your ie

 

like dial a loan etc

 

there have been many successes with the various companies GE push you off too.

 

dx

[Baviaanuk]

Right, will get the charges paperwork out in the post today (they are close enough to 6k themselves!!) This PPA letter will take some time, have been doing some reading today around the forum so I can get a much better idea of the best approach.

 

Dial4aLoan apparently went out of business (certainly cannot find any live trace of them) I am a real sucker for documents, I keep the LOT so have all of the original paperwork (including carbon copies) 2 documents in particular are interesting, both from the Igroup, I have:-

 

Credit Agreement on a yellow sheet, in the top left hand corner there is an igroup logo with loans written underneath.

 

Protection plan Application Form, top left hand corner shows once again the igroup logo with financial services written below it.

 

The protection plan document has no mention whatsoever of who is underwriting the policy, I am wondering if the fact the document shows financial services on it, that might mean Igroup were the underwriters? Will do some searching around later. Anyone know if this could be the case?

[Baviaanuk]

Ok here we are again.....

 

It takes around 4 weeks to get a reply to my letters so this is really dragging.

 

Due to the constant blame shifting with the PPI business,

 

I decided to go after the payment fees which are near enough the entire amount I will have outstanding at the end of my loan,

 

I sent off the spreadsheets and a letter outlining what I want.

 

The have wrote back with the following finding:-

 

Findings

 

'I found that l the monthly arrears fees were applied correctly to your account in line with the terms and conditions,

the £40 MAF is applied each and every month your account is in arrears with no payment arrangement in place.

 

The cost is applied to recover the costs we incur in relation to the account being in arrears,

these costs include monitoring your account, contacting you by telephone or letter and making payment arrangements.

 

Based upon my findings I am unable to uphold your complaint due to the fact that the MAF's applied to your account are a true reflection of the cost to GE Money as a business.

 

I would advise you that this is our final response and your complaint is now closed'

 

So, where to go now. I was thinking along the lines that I should ask them to prove that these costs are a true representation of their loss?

 

So annoyed with this, I just want them to be fair, if they had of been fair in their actions, I would not be in debt in the first place.

 

Would really appreciate some help so I can get the ball rolling again.

 

many thanks

[dx100uk]

yep as expected sadly

GE never own up to doing anything wrong and never ever reund cPENALTY charges or PPI

 

its always some elses fault.

 

well it s court now

 

either you take them there

 

or

you refuse to pay anything further and let them take you there.

 

me thinks they'll NEVER go near a court with this

as you can PROVE its all charges

 

and theyhave admitted it too.

 

asfor the PPI

was it not dail a loan ...

or Igroup etc involved?

don't forget to try them

we've had successes with igroup & loans.co.uk

 

dx

[Baviaanuk]

Hoping that someone can help with a serious issue.

 

 

We have received a claim form for possession of our property this morning.

 

 

The loan was a secured 10 year £25k loan which we started in 2003.

 

 

Very early on in the loan, I was made unemployed so we struggled and incurred the usual penalty charges, we eventually got back on track with our repayments.

 

In 2013 towards the end of the term, we received correspondence that there was a shortfall on the account and they wanted it all repaid.

I went back over the figures and realised that this amount was made up entirely of penalty charges and monthly charges for having an account in arrears.

I did some research around that time as this didn't seem fair to me and stumbled upon this website,

 

I approached the lender advising them of 2 facts:-

 

1) We were mis-sold PPI at the time of taking out the loan as the broker told us that we would be refused if we didn't take it

 

2) We disputed the penalty charges and asked them to see a breakdown of how they calculated them (normally £40 a time and sometimes exceed £100 a month in charges)

 

We then went backwards and forwards for 2 years with them refusing to help,

they state that the broker is at fault and nothing to do with them and that they simply won't supply a breakdown of these 'costs' for arrears on our account.

 

The most recent letter I received from them was them telling us that they refused to discuss this any further!

 

We have recently been given the heartbreaking news that our youngest son has cancer, we have spent a great deal of the last month in hospital with him caring for him.

 

 

We now have him home although he is very vulnerable, we are home medicating him between his frequent returns to hospital for higher level chemotherapy

and surgical procedures, life is very tough and unpredictable for us!

 

I am angry with the loan provider for their failure to sort this out quicker, we are also fearful of loosing our home, taking into account our sons major needs.

 

We often end up in hospital for all kinds of reasons, high temperature and occasions when his nasalgastric tube becomes displaced, every day is a lottery for us right now.

 

I don't know how we can deal with a court case on this basis,

our sons immune system is badly and dangerously compromised by his chemotherapy,

its not as simple as arranging child care for him, the slightest bug or infection could do him a lot of damage.

Not to mention the fact that we have many key hospital appointments scattered all over the month.

What if he was sick leading up to this hearing?

 

We are sick with worry at a time where we need to be strong for him, I don't know what to do now and would like some advise.

 

I don't feel we should have to pay back these fees as they were unfairly placed on us, does anyone have any thoughts?

 

Thanks in advance.

[dx100uk]

whats this the dial4aloan/ge one?

 

 

dx

[Baviaanuk]

That's correct.

[AndyOrch]

If we could have a little more information re the claim Bavia....read the following and post your responses here.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?419198-You-have-received-a-Claim-What-you-need-to-do.-**UPDATED-December-2014**

 

Regards

 

Andy

[Baviaanuk]

Hope this helps

 

Name of the Claimant ?

 

GE Money Secured Loans Ltd

 

Date of issue – top right hand corner of the claim form – this in order to establish the time line you need to adhere to.

 

19/05/2015

Date of issue XX + 19 days ( 5 day for service + 14 days to acknowledge) = XX + 14 days to submit defence = XX (33 days in total) -

 

21/06/2015

 

^^^^^ NOTE : WHEN CALCULATING THE TIMELINE - PLEASE REMEMBER THAT THE DATE OF THE CLAIM IS DAY 1 [example: Issue date 01.03.2014 + 19 days (5 days for service + 14 days to acknowledge) = 19.03.2014 + 14 days to submit defence = 02.04.2014] = 33 days in total

 

What is the claim for – the reason they have issued the claim? Please type out their particulars of claim (verbatim) less any identifiable data and round the amounts up/down.

The claimant has a right to possession of XX XXXXXXXXXXXX

 

about the mortgage

 

On xth of X 2XXX that claimant and the defendants entered into s mortgage of the above premises

 

To the best of the claimants knowledge, the following persons are in possession of the property.

 

Me & My Wife

 

Account number XXXXXXXXXXXX, the agreement for the loan secured by the mortgage is not a regulated consumer credit agreement

 

The Claimant is asking for possession on the following grounds:

 

The Defendants have not paid the loan, interest and any other sums under the agreement for the loan secured by the mortgage by the end of the period provided by the agreement.

 

 

What is the value of the claim?

 

(not listed on the claim for for possession of property) £7100 + £280 court fee

 

 

Is the claim for a current account (Overdraft) or credit/loan account or mobile phone account?

 

Secured Loan

 

 

When did you enter into the original agreement before or after 2007?

 

Before

 

 

Has the claim been issued by the original creditor or was the account assigned and it is the Debt purchaser who has issued the claim.

 

Original Creditor

 

 

Were you aware the account had been assigned – did you receive a Notice of Assignment?

 

N/A

 

Did you receive a Default Notice from the original creditor?

 

Yes

 

 

Have you been receiving statutory notices headed “Notice of Default sums” – at least once a year ?

 

Yes

 

 

Why did you cease payments?

 

End of loans term (10 years)

 

 

What was the date of your last payment?

 

05/06/2013

 

 

Was there a dispute with the original creditor that remains unresolved?

 

Yes, we feel the penalties to be grossly unfair, we were on occasions paying over £100 a month on charges alone, at a time where we were struggling, this caused us huge problems. We were also misold PPI at inception, Dial4ALoan who brokered the deal told us in no uncertain terms that we would be rejected by Igroup (now GE) if we refused PPI. We have asked GE for a breakdown of these monthly penalties although they refuse to give us a breakdown, nor are they interested in dealing with the PPI issue as they say it had nothing to do with them.

Did you communicate any financial problems to the original creditor and make any attempt to enter into a debt managementicon plan?

 

Igoup (now GE) were advised early on in the loan that we were struggling, we had various agreements in place to repay the arrears.

[AndyOrch]

Is the following what you have received Bavia...

 

http://hmctsformfinder.justice.gov.uk/courtfinder/forms/n005b-eng.pdf

[Baviaanuk]

We have received forms N5 (claim form for possession of property) and NHM (defence form mortgaged residential premises)

 

http://hmctsformfinder.justice.gov.uk/HMCTS/GetForm.do?court_forms_id=608

[AndyOrch]

Are you in rented property...normally the N5 is issued by landlords?

[Baviaanuk]

No we are owners, the property is mortgaged.

[AndyOrch]

This is the relevant CPR that covers this type of claim...I'm afraid its not my forte but will raise it with the Site Team that are experienced in accelerated possession orders.

 

http://www.justice.gov.uk/courts/procedure-rules/civil/rules/part55

[Baviaanuk]

This is the relevant CPR that covers this type of claim...I'm afraid its not my forte but will raise it with the Site Team that are experienced in accelerated possession orders.

 

http://www.justice.gov.uk/courts/procedure-rules/civil/rules/part55

 

Really appreciate your help, we have so much on our plate with our son so need to get this sorted.

[Ell-enn]

Have you received defence forms along with the claim form ?

 

Also, do you have a primary mortgage on the property and if so is it up to date?

 

How much is the claim for?

[Baviaanuk]

Hi Ell-en. The claim is for a little under £7500. Our primary mortgage is up to date with no arrears. We did receive a defence form with the court document.

[Ell-enn]

Is the amount of the claim made up only of charges and interest ?

 

What date is the hearing ?

[Baviaanuk]

Is the amount of the claim made up only of charges and interest ?

 

What date is the hearing ?

 

The hearing is scheduled for 20th July, the claim is only for charges and interest.

[Ell-enn]

OK, we have plenty of time to get a defence together. Has the lender provided a list of all the charges and interest in their claim ?

[Baviaanuk]

OK, we have plenty of time to get a defence together. Has the lender provided a list of all the charges and interest in their claim ?

 

I did find that strange, the claim does not list the charges, nor the amount they are seeking or interest, just mentions the court fee of £280!

 

I am in possession of a full account statement. The statement lists the charges applied, on each sheet it lists the 'current monthly rate' (as a percentage)'

[Ell-enn]

Do you still have the letter from them refusing your PPI claim ?

[Baviaanuk]

Do you still have the letter from them refusing your PPI claim ?

 

 

I do indeed, I keep absolutely everything, even the original mortgage deed and PPI application form.

[Ell-enn]

Excellent I'll have a think of the best way to present a defence.

 

I know it's easy for me to say, but try not to worry too much - I can't see a judge giving possession to a second charge lender for charges.

 

Did you take your charges and PPI claim to the ombudsman ?