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IGroup -GEMoney-Elderbridge secured loan help


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Hi

 

I took out a secured loan in 2003 through a broker called freedom finance who are no longer trading , PPI was added to the loan .

 

I missed a couple of payments when the acct was passed to GE money , but always made up the missed payments over 2 months by paying extra on the contractual payments .

 

The charges from the arrears charges have accrued interest and now stand at £1700.

 

The loan was passed to Elderbridge last year and I have continued to pay the CMI , and when I could made a extra payment to reduce the arrears.

 

I managed to dig out the contract and was surprised to see the loan payments end this May :-)

but when I rang Elderbridge i was informed the outstanding balance is £2723 this includes the principle balance of £982 the remaining is the historic charges and interest from GE Money but Elderbridge do not charge interest on historic charges.

 

Is it worth me doing a SAR request and look at the reclaiming the mortgage charges ?

 

I contacted the FOS about the PPI , but was advised as the broker and Igroup is no longer trading , PPI claim would not be successful .

 

Any help with next steps would be appreciated .

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as usual GE sold their dirty laundry on.

you can reclaim the charges through GE if you are lucky

 

as for the PPI

 

you go after the insurance company that provided the PPI Insurance [the underwriters]

 

lots of thread here already to read use our search CAG box in the top red toolbar

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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