Ge Home Lending £600 in fees for a secured loan Claim

[jaxads]

Hi All

 

I'm on the quest again!!!

 

I've just had statements received from a secured loan which was through IGroup, now GE Money. (They were actually very quick at sending them and have even offered to return the £10 which I enclosed!) The loan was settled in May 2005. From October 2002 - May 2005 I had about £700 worth of charges

 

We now have another loan with GE (stupid fools we are :-|) but I wonder if I can go after the charges on the old closed account.

 

Also, as it was secured do the same rights still apply? A consumer credit agreement was signed (although I need to dig it out from wherever it's hiding!!)

 

As ever, any comments/advice would be gratefully received.

 

Best wishes all, keep up the good fight!!

 

Jaxads x

[jaxads]

Bump :o

[Nightmare4banks]

jaxads,in reply to your post:

 

I have 2 questions for you:

 

1.How much did you borrow?

 

2.When was the loan agreement signed?

 

The answers to these questions should hopefully enable me to assist you further.

[jaxads]

Hi, the amount borrowed was £10,700, we took out the loan in October 2002 and paid it back in May 2005. It was a secured loan. The charges in that time are about £700

[jaxads]

Right, am now going to send off a request for repayment of charges of £700 on this closed account. Wish me luck!!!!

[Guest katzcafe]

Wish me luck!!!!

 

Good Luck.

[jaxads]

Well, I'd hoped to have sent the letter back in August, but was side-tracked with other things, so letter was never actually sent. I'm hoping to get onto it soon. A few questions if I may for any GE Money experts out there ......

 

Does anyone know if these mortgage charges are stayed like bank charges?

 

What is an "administration discharge fee" - I was charged £147.12 for this -- I'm hoping to claim that back.

 

How would I work out the interest payable on the charges, given that it was a secured loan and they were charging me at the rate of 1.104% per month. (I'm hopeless with spreadsheets and the like!!) Anyone have a simple formula??

 

Any advice, as always, would be greatly appreciated.

[jaxads]

Shameless Bump !!!!

[jaxads]

Hi -- we had a loan with GE money which was redeemed in 2002. How would I work out the interest on the charges, when the loan was at 1.104% per month. Believe me, I want back what I can off this lot!!!!

 

I know I should know how to do this given the amount of time I've been a member. But I just cannot get my head around the figures.

 

Any pointers would be most appreciated.

[jaxads]

No it wasn't redeemend in 2002. It went from 2002-2007:rolleyes:

 

So I should hopefully be able to reclaim all charges. At that time they were charging £20, then £30 a month, but they're now charges £40 a month. I'd like to claim back the contractural interest, just cannot access any spreadsheets, and don't even know which one I'm supposed to be using!!!

 

Help really appreciated as I'm keen to get this one up and running.

 

x

[jaxads]

I found an excellent spread sheet for working out the contractural interest (it was straight-forward, even I could fill it in), but have lost it again -- any pointers??

[tonycee]

>>>>>>Spreadsheets

[jaxads]

Hi All

 

I've finally decided to take on GE Money, whom have charged approx £600 in fees for a secured loan which was paid off in 2005.

 

I'm a little uncertain as to how the interest is charged on the secured loan, but I'm wishing to claim back interest on the charges as they had charged me (I hope you can follow that:o) So, say a charge of £20 in November 2002 at 14.10% (the amount I was paying for the loan at that time ) could be worked out as:

 

Compounded Simple

£20 23/11/03 £22.06 £15.89

 

Basically, I'm asking what would be best to claim for ??

 

Any ideas or suggestions would - as always - be greatly appreciated.

 

 

Jaxads

[jaxads]

Shameless "BUMP" !!!!!

 

Any advice greatly appreciated. xx

[42man]

Hi Jaxads.....i'm not too familiar with the secured loan stuff, but I do know there is a good interest calculator which adds 8% compounded interest here....

 

Bank Charges: Reclaim them, they’re unlawful, includes free template letters ...

[jaxads]

OK update --- absolutely nothing from GE Money, so I'm about to submit a claim form. Any help or guidance wouldl be greatly appreciated - especially the wording of the particulars of claim.

 

It's mostly administration fees with th eodd dd rcall and returned payment charge.

 

as always, any help greatly appreciated.

[micko19]

Hello I am micko19 and my whole story is on Penalty charges forum I am sure no one here would mind me sharing this with you . I had to go to court 2 times but won every penny £1461.... If i told you the amount of rubbish paper work they send telling you it's on hold like the banks you would not believe it....enought to start a paper factory.... also libery 64 on same forum knows this stuff inside out....Also people here probably just as good just trying to be helpful. I use both forums and contribute to both forums.

 

Wish you well

 

micko19

[jaxads]

many thanks micko - good to hear another success story!! Well done on getting back your charges