I Group (GE Capital) Mortgage Charges

[jakea3]

JESUS what a rip off i really feel for you all,sorry im not really qualified to give that kind of advice but im sure somebody will answer who knows more than i do.good luck

[:Boy:]

I Group, won't refund the Debt Counsellor charges.

[attdt25]

hi again read the case and totally lost..... as going to court do i file a defence claim for the charges? not that bothered about the counsellor but never saw them we were out! so think i shouldn,t pay ? or do i sent a letter direct to ge asking for charges to be returned ? if so which one . Sorry to be a pain but new to all this and court day looming.....

[jakea3]

This is zootscoots contribution from higher up in this thread i think it answers yer question read ALL ALL OF THE ADVICE some good tips there {READ THE PART HIGHLIGHTED IN RED CAREFULLY} and good luck

 

Attdt25

 

If they apply to court for possession you can rely on s.36(2)(b) of the Administration of Justice Act 1970 which allows the court to suspend the possession order for such a term as the court considers reasonable. If the debtor can repay with in the reaonable time no possession order is granted.

 

Under s8 AJA 1973 in exercising the powers under s.36(2)(b) the court only has to consider the sums payable in arrears not any term which may render the full amount repayable.

 

What amounts to a reasonable period will depend on the circumstances of the case and can include the whole remaining term of the mortgage as occured in Cheltenham & Gloucester v Norgan. This case also stated the factors the courtwill take into account when deciding what is reasonable:

 

Ability to make payments now and in the future

Likely duration of financial difficulty

Reason for arrears

The period of agreement remaining

 

If you have unlawful charges you need to do this as a counter claim rather than as a defence.

 

Do you have any legal representation for court? If not it may well be worth going to your local Citizens Advice Bureau as they may be able to arrange something for you.

 

Its unlikely that the court will repossess but difficult to tell without more details.

 

Best of luck

Zoot __________________

Will be away 25th -29th Aug if I don't reply I'm not ignoring you!

 

All advice is offered in good faith and with care taken over the accuracy. Some is mere opinion some based on law.

 

Feel free to use information provided, however, never act on legal advice offered by anonymous strangers with out first checking it out

 

You know it makes sense

[bach]

HI to all just read all your posts on GE Capital.

 

We have a second secured loan with them, and are 2 payments behind, boy are they a very difficult company,a bit ruthless to say the least I think they need to be tought a few manners. They wont co operate with CAB and have threatened us with court action . They wont even enter in to any dialog as regards to try and make some kind of payment to them.

 

I believe them to be a totally un reasonable company and I for one will not be bullied by them, and I too, if nescessary will see them in court.

 

Any one interested in joing forces.

Lynn

[Guest katzcafe]

Hi, be warned should you try to move your mortgage!

 

We needed cash to pay off a loan that had fallen into arrears, we applied for a remotrgage elsewhere, I Group phoned and asked why.... replied they could sort it, cheaper, quicker, no valuation etc. etc. so we agreed. They stalled for weeks, as things became more desperate they said they had to move us to a sister company, Purple loans, to complete the deal. They stalled, I explained First National Bank were threatening to take us to court, they seamed very understanding on the phone. They charged us valuation fees, broker fees. They took 11 months from start to finish, First National Bank got a court judgement against us, wopping the intrest up. And to top it all, when we went to the office to pay off the loan, we discovered, not only is I Group and Purple loans under the same umberella, so is 1st National bank!!!!!! And they work from the same office, using the same computers!!!!!

 

Tread carefully!!!

[kfdh1962]

Hi All,

reading all your posts. My partner has had loads of trouble with i group. She had to take out a mortgage away from the main high street lenders due to debts she was left with by her ex rendering her credit record less than healthy. Any way, this shower of T*SS**S took months to sort out the mortgage, then having arranged it took a £1000 pound in fees and charges out of the amount of the loan requested that they had failed to advise her of.

Ever since we have had this mortgage they have been nothing but trouble. They continually move payment dates, or increase payment amounts with prior warning. This often results in the payment being declined by the bank, and then i group hit you with huge fines for being in arrears when they have created the situation. Then they try to take two payments and off we go again!!She has spent hours on the phone going over this with them, to be told it was her fault and not theres. There response is basically you should have more money in your account . Ars**oles!!!

She has tried to move the mortgage but she has to have 3 months clear of any arrear, but it is impossible with the way I Group behave

I will watch with interest this thread see how you all get on

 

good luck

[kevindowns]

Hello anyone who can help me.....loads of arrears with I-Group, close to repo order etc...unable to catch up on arrears and believe stiff ERP if I sell house (currently on Interest Only).......Can anyone put it in the bag for me and state categorically what charges, penalties, fees, debit interest (normally equating to one months payment) are unlawful and therefore would be returned to me if I took them on....also on the subject of GE Money, as most will know, Umbrella Group covering 1st National, B&Q and Comet Storecards, GE Woodchester,and many others, Has anyone taken these subsidiary companies on for their late charges which are equally disproportionate and unfair??????

[bach]

Hi kevin

I am this instant going to take on First National as they charged £5.600 p p i for being with the loan for 12 months which is outrages,

 

Im in no possition to offer any advice although I have now learnt I will not be bullied by any of them.

 

I unfortunatly have a secured loan with G E have missed 1 payment they have tried to threaten us with court, rediculus for missing 1 payment. Wont even talk to us to compromise.

 

Any one interested in joining forces to take them on ??

Im sorry I can't help you but just keep reading and watch this space

 

Good luck

Lynn

[kfdh1962]

i just had some charges refunded from GE money. Only £246 pounds though, on a store card. I dont know how they compare to GE woodchester though?

[uk2000steve]

Hi Everyone,

Really sorry to hear about the issues with Igroup (GE Money). I'm just glad I'm not the only one.

 

This is my first posting although I've starting work on my credit cards as advised.

 

I have a £21k Secured loan with Igroup and was recently out of work for 18 months!

My Secured loan is now nearly £25K.

I managed to pay regular amounts to Igroup although not always enough.

I am now managing to keep on top of my regular payments, but I am being heavily charged for my arrears, which includes a monthly arrerars letter plus additional interest.

 

Should I take the same route as credit cards/storecards?

 

Any advise would be appreciated.

 

East Sussex

[:Boy:]

I Group have till the 6 Sep to reply to my LBA (amount in my signiture below) I cannot wait to send in the County Court papers. We have just cleared our arrears with them on our current GE Mortgage, but like what was said above, the mortgage amount just keeps going up every month because we have mysterious charges that have to be added onto the mortgage. Shame they could not do this when we were 4 months in arrears with them.

 

I will keep you posted.

[bach]

I Group have till the 6 Sep to reply to my LBA (amount in my signiture below) I cannot wait to send in the County Court papers. We have just cleared our arrears with them on our current GE Mortgage, but like what was said above, the mortgage amount just keeps going up every month because we have mysterious charges that have to be added onto the mortgage. Shame they could not do this when we were 4 months in arrears with them.

 

I will keep you posted.

 

My husband has spoken with G E Mortgage this a m, not at all helpfull have now told us that further charges have been added, now amounting to £300 over 5 week period, again mysterious charges. When I get my money owing to me from the Woolwich I will pay off the month owing and then I will start on them reclaiming the charges. Im sure they are operating out side the law.

Thank goodness we have this site, it certainly helps to talk to each other.

Good luck will watch your thread

Lynn

[:Boy:]

They are just money grabbing b****rds.

[martin65]

Apologise if I am appearing ignorant but I had a 2nd charge loan on my property with iGroup,settled the loan but this was done with another loan(better rate) not certain if I was charged ERP,should I approach my current lender to find out how much they repaid them or contact iGroup company and request through £10 letter?????

 

If I was charged penalty,would I not have signed to agree in contract,am I being thick or can I claim anything

[zootscoot]

If the loan was under 25,000 there would be no ERC as it would be regulated by CCA which does not allow ERCs.

[martin65]

was over 29000

[essjaysea]

It might be an idea to ask the existing lender, who settled the GE Money 2nd charge, for a completion statement, which should detail how the funds were disbursed, ie, GE Money loan, Broker fees, (if applicable), legal fees, PPP insurance, (if applicable), and the amount you received. These are usually sent out to you by the lender when the loan completes.

 

You could also contact GE Money and ask them for a detailed redemption statement, which should show you all the charges that they applied to your account prior to early settlement

 

Re ERC on 2nd charges. It is my understanding that any secured loan for less than 25K completed after 31st May 2005 will attract an early settlement charge of a maximum of 2 months interest. Anything over 25K, or any secured loan completed prior to 31st May will still attract ERC as per Rule 78

 

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