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harris1997

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Everything posted by harris1997

  1. harris1997
    Thank you CitizenB, yes a little clearer.....i think I don't think i will fall under this as i did pay extra money for arrears on top of the normal installment but they did not capitalise.
  2. harris1997
    Which one would i issue a court claim against? And is it correct i can only claim for the past six years. GE sold this to Prestige a year ago
  3. harris1997
    Therefore i was asking what the other post meant and wondered if GE may be one of those! Prestige are just the same! We have tried with them to negotiate a reduced figure but again they only offer a couple of 100 even though they can see how GE handled the account
  4. harris1997
    Yes I tried only got back a measly few when i ended up getting the ombudsman involved. No where near the amt I have paid. To be honest i do not have the time to keep battling with these people i have a terminally ill father who i wld rather spend time with when not working. My loan has now expired and the balance left is 10k all made up of charges that were added to arrears. We have paid 89k already on a 30k loan!
  5. harris1997
    Interesting information. Please can you explain what it actually means to a simpleton like me, or what it is that a company may have done. I do hope GE money falls into this category! Probably wishful thinking on my behalf!
  6. harris1997
    Evening Can anyone offer any advice. My secured loan is due to end on the 4th July 2016, it was originally with GE money who sold to Prestige finance. Original loan was unregulated 30k, to date paid back 89k. There is still a balance of 10k made up of charges and additional interest. I will continue to make payments but wondered what will happen now, can they charge whatever interest rate they like because the original agreement has/will end? Any advice greatly appreciated before I ring them to negotiate. Thanks in advance
  7. harris1997
    Thank you, I will take a look
  8. harris1997
    I had a letter to say mine has been sold to Prestige finance
  9. harris1997
    Hi, I have received the same type of letter. I had a 1 page letter where at the bottom there was a table that explained 'what we have done' with a table and 2 columns showing the amount before recalculation and the amount after. Mine was a whopping 13p reduction and it only decreased on the arrears balance and the fees * additional interest balance. I received no explanation as to how long this error had occurred or a breakdown of the calculation and how they arrived at the figure. Did your letter provide the same detail I have mentioned or did your letter have additional information? Many thanks
  10. harris1997
    I have also received a letter today informing me my account will be transferred to 'Prestige Finance' on the 6th November! Not much notice then!
  11. harris1997
    Hi, FOS have just made them refund some of the £40 charges they applied to my account and the additional interest but only from April 2014 which is when FOS took over as mine is an unregulated secured loan with GE.
  12. harris1997
    I have a secured loan with GE and they haven't done this to me. However, I am sure I have read elsewhere on this site the same thing has happened to other people.
  13. harris1997
    Hi all, A brief update - I lodged a complaint with FOS for the charges, they could only look at anything after April 2014. As a result GE are paying me back the £40 charges plus additional interest from April till now. Any further charges they may add each month I will need to follow the complaints procedure all over again and then refer to FOS if they don't refund. A lot of messing around but if the result is they have to pay them back to me I will do it. Anything prior to April 2014 I will have to continue to battle with GE and possibly go down the court route to get them back as FOS can not make a decision on anything prior to April 2014 because my loan is unregulated.... I also have shelter working with me on this as well.
  14. harris1997
    Hi Caro Thanks for the link and yes they continue to charge me the £40. I have uploaded an example of my statement where the additional interest payment goes up and then down each alternate month. Does anyone know why this is. There is nothing specific in my terms and conditions about additional interest.
  15. harris1997
    Hi both I will have to look at the t&c, I signed 2 docs - 1 was the loan agreement the other was the mortgage deeds.. ..the terms and conditions on the back of both of them are different. I find it all so confusing:???: The normal interest is reducing every month, the additional interest they charge - 1 month it is higher, the following month lower, the next higher than the previous month and so on. So i find it confusing. I have the statment of account they sent me where it shows the amount they charge month on month. When I am in work tomorrow I will scan one in, PDF it and upload so you can see what I mean. If the additional interest is based on the arrears balance I would assume it would increase each month seen as though that is what the arrears balance is doing, but one month is is higher than the previous.....confused.com:???:
  16. harris1997
    Hi I'm back again! I have just done the spreadsheet and i have only included the £40 charge per month initially as i wanted to see what that figure alone gave me and it is £4800. I know i can put the direct debit recall charges and the debt counselling charges even though i always refused them. They say my arrears are £6k so mostly made up by these hideous charges!!! Does anyone know from experience what they base their additional interest amount they charge each month on and how it is calculated. I am struggling to understand it because as the overall balance gets lower, each alternative month the interest amount is higher than the previous one. Thanks
  17. harris1997
    Thanks i do have this spreadsheet that i will need to update later. I assume i put the average rate of interest charged over the loan so far. I definitely need to take positive action sooner rather than later and would be more than willing to go to court I am just nervous in case by going to court the judge sides with them, but I suppose that is a chance I will have to take sooner rather than later!
  18. harris1997
    Just another quick question Caro if i take them to court for the charges what would i need to do and do you know if there have been and success stories by doing this? thanks
  19. harris1997
    Hi Dodgeball - I am not sure what the settlement value is as I have not received a letter from them for ages with this info - if only i could source money to pay them off and get them out of my life! Caro - I have a full statement of all the charges so i don't think i need to do a SAR - or do I? they told me i could only claim the charges going back 6 years..... I have sent a complaint to FOS but they can only look at it from April 2014, when i complained to the FLA they were a waste of space. I am so sick of dealing with them, they have been the bain of my life for 8 years now!
  20. harris1997
    Hi Dodgeball Shame dont really know what or where I can go....really frustrating! Apparently the arrears are now at £6k even though I have not received a statement for months.. They just keep rising despite me paying my CMI of £402 and £88 towards the arrears because of the loan re-op (whatever that is) I have stuck to the court order of £500 per month since 2009.... Despite this they tried to repossess in Dec 13 but then never turned up at court.. .So as it stands at the moment I continue to pay, they continue to increase the arrears and nothing on a new hearing yet. But I am expecting this sooner rather than later as I have £17k left to pay and it ends in 18 months. ..So I assume they will trt and go for possession again. The loan agreement I signed has diff terms and conditions on the back to the one I signed for the mortgage deeds even though they were signed at the same time the small print on the back is diff, i would like to know which terms and conditions apply...or do they both apply....confused.com Dont really know where I can take this now and these cowboys appear to be able to do what they like.. .. i can only apply for the charges to be refunded and then they will only give me a pittance and want me to accept full and final settlement! Any advice would be greatly appreciated.... Thanks
  21. harris1997
    Hi, I did but they offered me a pittance and then wanted me to accept within 3 days by the time i received their letter that must have been posted 2nd class!! They wanted me to accept full and final settlement and it was only for a few of the 40 quid charges! Because of one thing and another i never got chance to reply within their deadline. They have just offered me 50 quid for when i went to court in dec 2013! Because they never turned up, again as full and final settlement! I need to sort something now asap as it ends in 18 months or at least ut should do! I have lodged a complaint with FOS but i not holding me breath!!
  22. harris1997
    Thanks dodgeball. So there is nothing i can do, i did a little bit of research on unfair agreements but it looks like very few win. Could i apply for a time order or does this not apply to unregulated agreements. I could kick myself for not noticing or being aware it was unregulated, it has been a real eye opener!
  23. harris1997
    Hi I wonder if anyone can give me any advice on an unregulated loan with GE Money. The broker was Loans UK and until recently when I have checked my signed agreement I noticed it was unregulated. Stupid I know that I never checked the paperwork. To be honest I didn't even know there was such a thing as an unregulated loan and it was certainly never explained to me or brought to my attention that I was signing an unregulated agreement. I would like to know where I stand with it and who I can go to for help. The FLA are useless and the FOS can only look into things from April 2014. I have successfully defended two possessions with the help of this forum and have made regular payments since 2009 despite this GE money continue to add charges. I asked for an interest statement and I am staggered to learn the total amount of interest is £25k on a £31k loan. I just feel like there is nothing I can do and GE money can do what they want as the loan is not regulated. Any advice would be greatly appreciated. Many thanks
  24. harris1997
    Thank you both very much
  25. harris1997
    No i haven't and the rate has changed over the years how wld i work that out?

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