GMAC Customers read this

[on*the*case]

Hi - re GMAC and its mortgage contract - is the FSA looking at those contracts that have been sold on by GAMC? e.g. if a car is found to have a fault from production at say Ford, do Ford then say Oh - it only applies to cars we still have in our posession! - No, it applies to all of them. So, my contract set up by GMAC with all its terms and fees set by them and being with another and not by choice should still come under any FSA ruling on that product surely? any thoughts?

 

Hi, as I understand things, it is only existing & closed GMAC accounts that the FSA looked at. I dont know what the position is with contracts that have been sold.

Why not ring the FSA? The public enquiry line is 0300 500 5000.

[Bona]

I have just rung A Suzanne Burt at the FSA 020 7066 1063 she was great and explained exactly what I should do and what applied try her

[iconoclash]

Hi guys and thanks - meantime - have sent an enquiry to the FSA spelling out my case and hoping they will see the big picture! Whilst assessing things Ive been through my boxes of papers used by Oakwood in their repo action earlier this year - one thing I note is a note that indicates I have transferred my product into a "Buy to Let" ????? there's not much else on the page but it's got me wondering what are the implications of this, particularly since I do not have any buy to let.

[on*the*case]

Hi guys and thanks -.............. one thing I note is a note that indicates I have transferred my product into a "Buy to Let" ????? there's not much else on the page but it's got me wondering what are the implications of this, particularly since I do not have any buy to let.

 

Did you request that the mortgage be changed? Have you signed anything? Normally there is a fee for changing the mortgage, and BTL usually have a higher rate of interest.

So the 'implications are' ; that you will have paid a fee, probably added to the capital, so you are paying interest on that; and a higher rate of interest on the loan (and any arrears).

[iconoclash]

Hi - no not signed anything - it seems to be an internal note to another member of staff and says: plese send out information reference changing to buy to let. thanks. Natasha.

Also, see another sheet dated 16 jan 2008 Pool No. TOC00005 with note at bottom about a mortgage offer being sent. Again means nothing to me and was already in mortgage with them at that time. Perhaps this is more of their internal workings that we never get to know about? Should I have had info in this SAR file about the MIG that I was charged £4000 for - I did ask but they said it had nothing to do with me as it was only in their favour!

[on*the*case]

......... Should I have had info in this SAR file about the MIG that I was charged £4000 for - I did ask but they said it had nothing to do with me as it was only in their favour!

 

Yes, you paid for it. They should supply EVERYTHING they hold on you, not just letters and forms, but diary notes, transcripts of phone calls (or at least logs) emails, notes to external organisations like solicitors etc. They are allowed to black some bits out.

 

 

• When your data arrives, if you consider that it is incomplete then complain immediately to the bank and tell them that the 40 days is still running.
  

 

 

• If the bank fails to supply you with your data then you should complain to the bank. Give them 7 days to comply and tell them that you will begin a complaint to the Information Commissioner and also that may begin a County Court action under the Data Protection Act.
  

If the bank does not respond to your 7 day warning then begin your complaint and start your action.

[42man]

I have a pal who had a mortgage with GMAC.....on day one they took out over £2,000 from his account which put him into arrears from day one....they repossessed him most aggressively (repossessed with a baby in tow too) huge amount of charges, and they have written a letter to him saying they will refund just over £400....an incredibly insulting and derisory offer. He is of course going to turn them down. He is requesting a FULL sar first.

[on*the*case]

I have a pal who had a mortgage with GMAC.....huge amount of charges, and they have written a letter to him saying they will refund just over £400....an incredibly insulting and derisory offer. He is of course going to turn them down. He is requesting a FULL sar first.

 

It seems the offers may not be 'conditional' full & final etc, so possibly the money can be accepted as a part repayment. Check before banking the cheque.

As well as the SAR, also wanted is a Full Statement of the Account and a Full Redemption Statement.

[mich7k]

hi all just a quick moan ifyou havent had yourchequefromthese sharks give them a ring i called today toask wheremycheque was told it hadnt been sent out yet i said when will it be sent out she said i dont know just ring back in a few weeks if you dont get it i said let me speak to someone else as i was told i would recieve it within 30 days and youre telling me to call back in a few weeks?? so iget put through to a "supervisor" who tells me that its just come up on the diary and i should recieve it early next week! i guess they process it until you call up for it

[wishboneash]

mine is still with a claims firm about £4000 pounds in charges 15 dd

and 50 pounds arrears fees

[sillygirl1]

Not only do you want your cheque, you want the back up ie the items they are actually refunding to cross check against your statement... they won't provide it as 'it isn't necessary' but I feel it is, they will only stitch you up even more.

 

I've put in a complaint against them about this to the FSA and been told to go to the FOS which gives them 8 weeks to reply, I've already had their reply which says go to the FSA... so there is a lot of fobbing off going on.

 

They are still trying to chase for the laughable Asset Manager Fee of £4000+ added after the repossession... still haven't come up with back up for that one!

[wishboneash]

Not only do you want your cheque, you want the back up ie the items they are actually refunding to cross check against your statement... they won't provide it as 'it isn't necessary' but I feel it is, they will only stitch you up even more.

 

I've put in a complaint against them about this to the FSA and been told to go to the FOS which gives them 8 weeks to reply, I've already had their reply which says go to the FSA... so there is a lot of fobbing off going on.

 

They are still trying to chase for the laughable Asset Manager Fee of £4000+ added after the repossession... still haven't come up with back up for that one!

just had an offer

 

We received a letter from GMAC and it states that they are offering

£1016.59.

 

This is in two parts: a cheque for 566.59 and 450.00. Have you received

any cheques?

 

They state that the offer is in line with FSA guidelines and it is

reasonable. It may be that the FOS might not direct any further refunds

so an offer of £1016 may not be too unreasonable

Edited March 3, 2010 by wishboneash
spelling

[Bona]

Ok got a refund a fraction of what they took

If these charges are unfair and refundable on the 24th October 2004

why arent they unfair before that

Think I might test it in the samll claims court:D

[frettful38]

Any one know if Procuration Fee and Intermediary Fee are the same thing please?

[iconoclash]

Hi guys and thanks - meantime - have sent an enquiry to the FSA spelling out my case and hoping they will see the big picture! Whilst assessing things Ive been through my boxes of papers used by Oakwood in their repo action earlier this year - one thing I note is a note that indicates I have transferred my product into a "Buy to Let" ????? there's not much else on the page but it's got me wondering what are the implications of this, particularly since I do not have any buy to let.

Hi - quick update - I'm still chasing this outfit but have also found that Oakwood have details on the deeds transfer form using an address in London, having traced this it seems to be a legal firm called Brown Rudnick in Clifford Street - I assume it is ok for them to use their legal reps details to avoid disclosing the SPV stuff ???:?

Edited April 9, 2010 by iconoclash
typo

[sutton6344]

Subbing with interest.

 

I thought it would be better to start a new thread with my experience.

 

http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/255398-lender-lied-court-get.html

[maybelline]

I have just rung A Suzanne Burt at the FSA 020 7066 1063 she was great and explained exactly what I should do and what applied try her

 

is this still live this contact or do you have an email?

[wishboneash]

hi can i call this number thanks

[wishboneash]

i hope this will work because i was very disappointed with glancing offer i was made

[joedachef]

just reading this with some interest

i had 2 repo tries from them when i went into arrears through job loss and being very old (60) my job choices seem to dwindle

How do i find out if i have any bad charges i could recover with out upsetting them-I still have a position order on me and they just offered to consolidates my arrears

I been charged lot of late fees

solicitors fees etc

I pay well over the odds interest charges link to labor rates

My original mortgage was i think about 192k at 8.5% so for 3 years I was paying 1480 month interest only

Would be nice to get the charges knock off my mortgage arrears

should i feel lucky to still have a roof over my head

 

just a bit of friendly advice would be welcome,after all bricks and mortar was my investment, not-lol

[42man]

I would suggest you send them a SAR (Subject Access Request) in the first instance, this will cost you £10, but it could be a very well spent £10 make sure you send this recorded delivery too. You can find the links in my signature below, you should also read this too - http://www.consumeractiongroup.co.uk/forum/showthread.php?296108-Hot-news-for-anyone-who-has-suffered-mortgage-arrears-charges-irresponsible-lending-or-other-unfair-lender-conduct

 

Also did you have any PPI cover on the loan ?

[url=http://www.consumeractiongroup.co.uk/forum/showthread.php?296108-Hot-news-for-anyone-who-has-suffered-mortgage-arrears-charges-irresponsible-lending-or-other-unfair-lender-conduct][/url]

[joedachef]

Do you know what I don't know if I had PPI i don't think so but i will find out-I will ask them

Another thing i had a £5000 loan from Lombard Direct back in 1997, after a couple of years got into trouble with payments after a short while they gave it to a agency paid them for years at £20 month then realised the amount never went down as I was paying,when i rang them they said your not paying enough to cover interest charges

so i stopped paying-Lombard they re-sold the loan to idemservicing who tell me they be contacting me in December for payment

the load is now 14 years old

thanks for the quick reply

i am sorry but i will be a bit of a pain in the arse over the next few weeks,as there is so much i want to sort out-overpaid tax credit welcome finance etc-you help me i will help you-lol

[wishboneash]

hi got all my paper work fees were from 2001 to 2008 10 pounds for no dd ( i never had a bank account was taken off me , so could only pay via a building society check ( pass book had send my wages to it and wait till funds were in then i had to send a cheques off £50 pounds arrears fees

 

i totall about £3500 and was added to loan intrest rates were a punishing 10 percent in 2008 from then paul.xx