So Worried - Ge Money 2 Secured Loans

[NN4]

Hi -Ell-en sorry for not getting back sooner.

The mortgage is just in my name. I

have no dependent children but my 20 year old son lives with me and is partly dependent as was made redundant 7 months ago and only has sparodic work through an agency.

 

Other than that £47 from jobseekers per week. T

 

he actual contractual payment arrears are £624 the rest comes from charges.

 

Until it was stopped in February this year, I had guaranteed overtime which gave me approx £350 per month extra.

 

My partner walked out which had a severe financial impact.

There were things that had not been paid by him that we are joint and severally responsible for (water, electric and council tax)

which I am having to deal with as he is unemployed so they have come to me.

 

I got behind with my Halifax mortgage also but have come to an arrangement.

The payments to GE were on direct debit but for the last couple of months were returned unpaid because the money ran out

and then I was in the position where the bank was taking as much as £120 per month in charges exacerbating my situation.

I have now cancelled all direct debits.

 

I have made offers of payments to all concerned which have been agreed (including the Halifax but I am on a suspended repo order with them)

and everything is paid either by postal order or by building society cheque.

 

I am now in a position where I can pay the contactual monthly payment of £141 to GE plus £40 from the arrears.

 

Since the inception of the loan, I have accrued £2,000 in charges.

 

They want an extra £100 per month for this on top of the monthly payment and not including any arrears arrangement.

I cannot do this.

I have put my proposal of monthly contractual payment plus £40 off arrears to GE and where the £2000 in concerned,

I have proposed that that they either add this to the loan or separate payments for this are spread over the next 6 years which is what is left on the loan.

I have yet to hear from them re the proposal and still haven't had a response to the SAR.

[NN4]

Hi -Ell-en sorry for not getting back sooner.

The mortgage is just in my name. I have no dependent children but my 20 year old son lives with me and is partly dependent as was made redundant 7 months ago and only has sparodic work through an agency. Other than that £47 from jobseekers per week. The actual contractual payment arrears are £624 the rest comes from charges. Until it was stopped in February this year, I had guaranteed overtime which gave me approx £350 per month extra. My partner walked out which had a severe financial impact. There were things that had not been paid by him that we are joint and severally responsible for (water, electric and council tax) which I am having to deal with as he is unemployed so they have come to me. I got behind with my Halifax mortgage also but have come to an arrangement. The payments to GE were on direct debit but for the last couple of months were returned unpaid because the money ran out and then I was in the position where the bank was taking as much as £120 per month in charges exacerbating my situation. I have now cancelled all direct debits. I have made offers of payments to all concerned which have been agreed (including the Halifax but I am on a suspended repo order with them) and everything is paid either by postal order or by building society cheque. I am now in a position where I can pay the contactual monthly payment of £141 to GE plus £40 from the arrears. Since the inception of the loan, I have accrued £2,000 in charges. They want an extra £100 per month for this on top of the monthly payment and not including any arrears arrangement. I cannot do this. I have put my proposal of monthly contractual payment plus £40 off arrears to GE and where the £2000 in concerned, I have proposed that that they either add this to the loan or separate payments for this are spread over the next 6 years which is what is left on the loan. I have yet to hear from them re the proposal and still haven't had a response to the SAR.

[Ell-enn]

Hi there, the charges should be added to the oustanding mortgage not included in the arrears total - do you have a statement showing the actual arrears and charges?

 

I have started to draft your statement and will post on here - you might need to amend some things if I have not got the facts absolutely right.

 

Ell

[Ell-enn]

Hi there, the charges should be added to the oustanding mortgage not included in the arrears total - do you have a statement showing the actual arrears and charges?

 

I have started to draft your statement and will post on here - you might need to amend some things if I have not got the facts absolutely right.

 

Ell

[Ell-enn]

Hi, affixed is the statement - in the box at Q.27 write "please see affixed statement".

 

When you fill in the financial questions on the N11M - you need to ensure that the £40.00 you are offering towards the arrears is the amount left over after everything else has been paid.

 

Take a copy of the form and statement before taking it to the court (or send by special delivery) you need to do this ASAP!

 

Any questions, just shout.

 

Ell-enn

NN4 Q.27 Statement.doc

[Ell-enn]

Hi, affixed is the statement - in the box at Q.27 write "please see affixed statement".

 

When you fill in the financial questions on the N11M - you need to ensure that the £40.00 you are offering towards the arrears is the amount left over after everything else has been paid.

 

Take a copy of the form and statement before taking it to the court (or send by special delivery) you need to do this ASAP!

 

Any questions, just shout.

 

Ell-enn

NN4 Q.27 Statement.doc

[NN4]

Ell-enn. Thank you very much for this it is greatly appreciated. I will drop the forms off to the court tomorrow morning.

[NN4]

Ell-enn. Thank you very much for this it is greatly appreciated. I will drop the forms off to the court tomorrow morning.

[mkb]

Just wishing you good luck for tomorrow

[mkb]

Just wishing you good luck for tomorrow

[NN4]

Mkb, thank you for your good wishes.

Ell-enn, thank you for the help and advice.

 

The outcome of the hearing was a suspended repossession order.

GE wanted an extra £80 per month for the arreas but I proved that it was too much for me to afford and it was lowered to £40.

 

I did not have a copy of the statement that a paralegal had sworn on behalf of GE but was given a copy at the hearing and 15 mins to read it.

 

There were 2 points in the statement which were not factual that I raised and they had also failed to put the new payment date in the statment and court papers.

I actually changed the payment date in May from 7th to 26th of each month and paid the adjustment for this happen

so they had actually brought the case 3 weeks before I was 3 months in arrears.

 

I was satisfied with the outcome and will now pursue them for a response to the the SAR I sent them and go from there.

 

Regards

NN4

[NN4]

Mkb, thank you for your good wishes. Ell-enn, thank you for the help and advice. The outcome of the hearing was a suspended repossession order. GE wanted an extra £80 per month for the arreas but I proved that it was too much for me to afford and it was lowered to £40. I did not have a copy of the statement that a paralegal had sworn on behalf of GE but was given a copy at the hearing and 15 mins to read it. There were 2 points in the statement which were not factual that I raised and they had also failed to put the new payment date in the statment and court papers. I actually changed the payment date in May from 7th to 26th of each month and paid the adjustment for this happen so they had actually brought the case 3 weeks before I was 3 months in arrears.

 

I was satisfied with the outcome and will now pursue them for a response to the the SAR I sent them and go from there.

 

Regards

NN4

[mkb]

Glad you're happy. Well done you

 

Keep on at them about the SAR - you're entitled to it & they cannot stop you from having it. Whether they will give you all the information they hold is another matter entirely however

[mkb]

Glad you're happy. Well done you

 

Keep on at them about the SAR - you're entitled to it & they cannot stop you from having it. Whether they will give you all the information they hold is another matter entirely however

[Ell-enn]

That's great news - well done. The biggest hurdle is over

[Ell-enn]

That's great news - well done. The biggest hurdle is over