GE Money from 2004

[maybelline]

doesnt paying 5.5 above libor cover risks?

[enoughisenough]

They can't allege the charges as arrears. Notwithstanding this they do and our wonderful courts allow them to get away with it. What a load of rot.

[enoughisenough]

Millions of borrowers face unfair fines

[masmit]

Does'nt matter who the lender is they are all the same.

We had been in arrears for 11 months due to me being out of work (building trade) & only my wifes wage coming in leaving us with not enough money to go around.

We asked for interest only so we could manage until things picked up, to be told we could not change until we cleared the arrears plus there would be an admin charge to do so £79.99.

we eventually 3 months later got them to change us to interest only being charged an admin fee & also still having about £1800 in arrears just under 3 months. At every point abbey would ask for more money than we offered to clear the arrears saying it wasn't enough. Foolishly we agreed to pay more to which caused the robbing peter to pay paul issue, causing us to miss payments.

we had their debt adviser come round twice at a cost of £79.50 with which they did our incomings & outgoings (obviously think we can't work this out for ourselves) & then agreed to what we were offering to reduced the arrears.

We thought this was all sorted, then we get a letter from abbey saying this was not enough & they would not except it. It was £200 extra a month on top of our mortgage believe it or not.

Any way we had a letter saying if we didn't pay £1180 by the 18th they would start litigation, We phoned explained my wife didn't get payed until after this date & would could make a payment of £700 this was refused & they sent it to ligation, who agreed a smaller payment plan but we were charged £265 for their action.

we missed a payment due to a problem with our car leaving us short.

they started court proceedings for repossession £900 in arrears.

10 x £35 = £350

2 x £79.50 = £179

1 x £265 = £ 265

total =£794

After working out their charges which were applied to our account, i think it was something like £136 actual arrears.

 

My wife went to her mom & dad & asked for help with which they paid to stop proceedings.

We had a letter off Hamlins saying the court case had been adjourned.

Now today we have recieved a bill off Hamlins for costs.

 

Paid disbursements £230 + vat £34.50

court fees £100

land registry fees £24

unpaid

disbursements

court cost £40

total £428.50

This will be added to the mortgage.

 

We are in the process of requesting all charges back as we feel they have been totally unfair with their charges, profiteering off our hardship.

Edited July 14, 2009 by masmit
wrong figures

[enoughisenough]

Issue a claim in the county court. Form N1. They don't like it up 'em...and they always always refund when you do that plus you get 8% interest which is a nice little earner these days.

 

Ask them for the court order that says the judge has awarded their costs and when they don't produce it tell them pay their own costs and demand they are removed from you account. They premised their litigation on an unlawful basis. Their litigation was unnecessary. Tell them to go and get stuffed

[masmit]

Issue a claim in the county court. Form N1. They don't like it up 'em...and they always always refund when you do that plus you get 8% interest which is a nice little earner these days.

 

Ask them for the court order that says the judge has awarded their costs and when they don't produce it tell them pay their own costs and demand they are removed from you account. They premised their litigation on an unlawful basis. Their litigation was unnecessary. Tell them to go and get stuffed

Thanks eie

I will write to hamlins on the above issue's & stick it up em

[enoughisenough]

Try the following:

 

Your client is respectfully reminded of the Unfair Terms In Consumer Contracts Regulations (1999). The regulations provide that: (a) a consumer may challenge a standard term in an agreement on the basis that it is “unfair” within the Regulations and therefore not binding on the consumer. Consequent, in view of your client’s conduct, we feel forced into consideration of issuing claim, in order to challenge your client’s continued application of unfair and excessive charges, where we would prefer to avoid such a course of action

 

AND

 

‘Subject to the provisions of this or any other enactment and to rules of court, the costs of and incidental to all proceedings in –

 

(a) the Civil Division of the Court of Appeal

(b) the High Court Service

© any County Court

 

shall be in the discretion of the court.’

 

Whether to make an order for costs and what order to make involves the application of CPR Pt 44.3: Rule 44.3(1). The court has a discretion. It should be exercised by reference to the overriding objective and the framework of r.44.3,

 

Rule 44.3(4) In deciding what order (if any) to make have regard to all the circumstances including:

 

• conduct (see r.44.3(5) for its expanded meaning)

 

Good luck but they don't ever act until you do and this means issuing a claim. Then they sit up and take notice. They are trying to sort the doers from the talkers as its cheaper that way. Oh and while you're writing to the fecker's sols put them on notice that if this is all not satisfactorily resolved in eight weeks you'll write to the FOS.

[masmit]

Try the following:

 

 

 

AND

 

 

 

Good luck but they don't ever act until you do and this means issuing a claim. Then they sit up and take notice. They are trying to sort the doers from the talkers as its cheaper that way. Oh and while you're writing to the fecker's sols put them on notice that if this is all not satisfactorily resolved in eight weeks you'll write to the FOS.

 

Thank's again,

i will add the above to my response,

I have requested off abbey more information because they didn't comply to my SAR request fully, limited info.

I will fight this all the way after the way we have been treated.

[masmit]

Hi EIE

will this do for a response

 

 

 

 

 

Dear Sir/ Madam

 

In response to your recent letter stating all future correspondence should be with the lender due to your file being closed I have a query to your claim for costs.

 

Your client is respectfully reminded of the unfair terms in consumer contracts regulations (1999).

The regulations provide that: (a) a consumer may challenge a standard term in an agreement on the basis that it is “unfair” within the regulations and therefore not binding on the consumer. Consequent, in view of your client’s conduct we feel forced into consideration of issuing claim, in order to challenge your client’s continued application of unfair and excessive charges, where we would prefer to avoid such a course of action.

 

‘Subject to the provisions of this or any other enactment and to rules of court, the costs of and incidental to all proceedings in

(a) the Civil Division of the Court of Appeal

(b) the High Court Service[/font]

© any County court

*shall be in the discretion of the court.Whether to make an order for costs and what order to make involves the application of CPR Pt 44.3: Rule 44.3(1). The court has discretion. It should be exercised by reference to the overriding objective and the framework of r.44.3,

Rule 44.3(4) In deciding what order (if any) to make have regard to all the circumstances including:

 

 

I feel with the above mentioned, the court has not awarded charges against us and that you pay your own costs, with no court actually being used. Also 90% of the arrears claimed in the court action were charges applied to the account by you & your client leaving a false figure for actual arrears to which you sort repossession with a false claim.

 

Hopefully this can be resolved within 8 weeks, stopping me taking further action using the FOS to resolve this complaint.

 

Yours Sincerely

Edited July 14, 2009 by masmit

[enoughisenough]

No. Not quite. Hold off If you can and I'll PM you with something a bit tighter. You're confusing a couple of things here which is quite understandable.

 

Cheers EiE.

[masmit]

No. Not quite. Hold off If you can and I'll PM you with something a bit tighter. You're confusing a couple of things here which is quite understandable.

 

Cheers EiE.

 

Thanks really appreciate your help

[enoughisenough]

Will try to do so soon, but I'm busy at the moment. Apologies. I will help in due course.

[HomerJSimpson]

No. Not quite. Hold off If you can and I'll PM you with something a bit tighter. You're confusing a couple of things here which is quite understandable.

 

Cheers EiE.

 

 

Any chance you could share a better letter with other people fighting these charges

[enoughisenough]

Hi HJS

 

I'll see what I can do. Could you be more specific? I think there are lots of templates out here.

 

1. Who is your lender?

2. When roughly did you get into arrears

3. How much are your arrears (Roughly)

4. Have you sent a Subject access request?

5. Have they complied?

6. How much are the charges (roughly)

 

This will help. Keep the faith EiE.

[HomerJSimpson]

Hi HJS

 

I'll see what I can do. Could you be more specific? I think there are lots of templates out here.

 

1. Who is your lender?

2. When roughly did you get into arrears

3. How much are your arrears (Roughly)

4. Have you sent a Subject access request?

5. Have they complied?

6. How much are the charges (roughly)

 

This will help. Keep the faith EiE.

 

Hi EiE,

Lender the much despised GEMoney, arrears back to 2005, at most under £1000 but have got these scumbags off my back and paid in full. Arrears mainy compiled of their arrears charges, they just snowball. Sent SAR and have details but don't agree with their fanciful legal charges. Also they won't give details of the secret commissions they paid to Ocean Finance for brokering the loan (mortgage). Just very interested in refunding the court fees etc if they haven't got a valid court order;)

 

If GE are watching they probably know who I am, we've had lots of correspondence but I haven't gone to court.......yet 8)

 

 

Edit.... Have issues with Abbey also.......similar situation but 1st charge mortgage still my current mortgage provider.

 

I have an operation next week with a long recuperation period, time to take this further

Edited July 14, 2009 by HomerJSimpson
additional info.

[enoughisenough]

Hi

 

HJS

 

Give me a bit of time and I'll try to get back with something useful. I'm in a very similar boat myself. I have posted the pm i promised to masmit but it was done hastily. I'll let you know and see if I can get a general template posted.

 

These are the filth **** of the universe and I WILL bring them to book.

[Suetonius]

Hi

 

HJS

 

Give me a bit of time and I'll try to get back with something useful. I'm in a very similar boat myself. I have posted the pm i promised to masmit but it was done hastily. I'll let you know and see if I can get a general template posted.

 

These are the filth **** of the universe and I WILL bring them to book.

 

You might want to add the following extracts to any letters regarding charges being unfair...

 

“ Elsewhere, the present debates about bank charges and the previous action of the OFT on credit-card charges are also relevant. We have already seen some customers raise queries about the level of charges made by lenders when they are in debt. The Citizens Advice report suggests that some lenders’ debt-collection practices are distorted by including steps that involve the customer paying additional fees. The range, complexity and level of these charges may all be matters for consideration. But the central question that will no doubt be raised increasingly with the ombudsman is whether or not the charges levied are lawful.

More generally, as my earlier brief example of the mortgage arrears fee shows, the application of extensive fees for customers already experiencing debt problems may not be fair treatment. Certainly it does not always sit well with the sympathetic and positive treatment of those in hardship.”

 

 

*Source: speech by Tony Boorman, decisions director and principal ombudsman, at the CML's complaints-handling seminar –London, 12 March 2008.

 

 

Lesley Titcomb, FSA Director responsible for the Mortgage Sector, also said*:

 

“As our data shows in these current market conditions more people are struggling to meet their mortgage payments and it is vital that firms treat them fairly. This means paying attention to their individual circumstances and not repossessing their homes when there may be an alternative solution. Repossession has to be the last resort. The FSA’s programme of actions to address the problem areas, includes a closer examination of charges, in particular the circumstances in which these are levied, and whether they are compatible with Treating Customers Fairly”

 

 

*Source: FSA reiterates call for firms to treat customers fairly in current market conditions - FSA/PN/087/2008 - 5August 2008

 

 

If the mortgage was drawn down after 31 October 2004 (you could argue that the spirit of MCOB should apply to mortgages before this date), you could refer to the below and ask them to prove the costs incurred.

 

MCOB 13.3.9

 

A mortgage lender or administratormust make and retain an adequate record of its dealings with a customer whose account is in arrears or who has a sale shortfall, which will enable the firm to show its compliance with this chapter.

[enoughisenough]

That's very useful Sue.

 

Thanks for that. I'll be sure to use this when they come knocking (again). Does anyone know the Latin for the basta*ds will rue the day...?

 

HJS

 

Hope your operation goes well. Let me know and I'll see what I can do to help.

 

Keep the faith. EiE.

[maybelline]

problem appears to be legal funding in the end, unless you go into court without any legal eagles (great if you can, and very doable I believe)

[theotherside]

I take your point Maybelline, it isn't just the cost of a stamp and a piece of paper though, what about the money to pay the people to do it, labour costs are businesses biggest cost, or the building for them to work in and the running costs of that.

Who was the guy on the radio? a so called expert?

 

As to the charges been repaid, I know that GE despite what a lot of people think is there to try to help people, in fact I know a lot of the people in the company personally. I also know that it is a company trying to stay afloat with a lot of people not paying their mortgages which causes it to lose money.

 

Some of its policies may sound harsh or unfair but I know they will listen if there is something they can do. They regularly speak to the CAB to see if their policies etc cause extra hardship and they will listen even if the response you get isn't always what you would have wanted to hear.

 

This is correct. There has in the last week been a refreshed list tools to help those that are in genuine hardship (not those who have been in arrears for 5 years yet blaming it on this weeks bad weather).

 

Honesty will get you more help in the long run. As for the charges, worry about the contractual arrears before anything else that has been accrued.

[chrisb333]

Anyone else get a refund from GE?

 

Seems they were not applying the decrease in the interest rates on the correct date so they have refunded £150.

 

I can't believe they have done this willingly, so anyone know whats going on

[frettful38]

Hi chrisb333, I have a secured loan with Blemain and they have not reduced my monthly payments a single pence in interest. Have you got a secured loan with GE? and how do know that they should have decreased the interest rates please?

[HomerJSimpson]

This is correct. There has in the last week been a refreshed list tools to help those that are in genuine hardship (not those who have been in arrears for 5 years yet blaming it on this weeks bad weather).

 

Honesty will get you more help in the long run. As for the charges, worry about the contractual arrears before anything else that has been accrued.

 

 

Honesty..........Since when did GE Money understand that concept? :?

[frettful38]

Honesty..........Since when did GE Money understand that concept? :?

 

 

Never if you ask me:rolleyes:

[josef1972]

to be honest what really ****es me off is the fact that people are happy to borrow 150k but when it comes to it they just dont want to pay it back, if you were renting somewhere and you didnt pay your rent for 2 months you would be kicked out and you hjave pretty much zero protection, you are lucky with a mrtgage that you have the courts protection as well, some people stay in thier houses for 1 or 2 years with out paying, i personally think its discusting and ther charges that are applied are completely justified, they have to write, call regtularly to try to get you to pay and someone has to pay thatpersons wages . so why moan about charges, if you dont like iot dont borrow money you can not afford.