Ge money repossession court action letter received.

[celticsteve]

This is quite a complicated case.

 

Today I have received notice that GE money wish to commence proceedings. Court case is 4th January 2012.

 

In 2004 a broker (who I don't know) arranged a secured loan....with a company called Jigsaw, who went bust.

 

The broker arranged the loan..did all the paperwork...arranged a phone interview...I was employed...but I was told to lie and say I was a self employed photographer....and that would make sure we got the loan. I don't know why he did that at the time...but have been told since that Jigsaw only did loans for self employed people.

 

 

Part of the loan included a big fee for the broker. A sum which he took I'm paying for grrrrrrrrr!! I feel so angry that this mess has been left with us and we are in this situation.

 

 

But jigsaw went bust....GE Money took over the loan....and since then they have been a nightmare.

 

I was made redundant....thankfully got a short term contract job...(which I thought was good providing for my family)....tried to get ppi to help when the short term job finished...but was told I wasn't covered!!!!

Now since we weren't covered...the arrears rose and rose...

.plus they have added MASSIVE charges.....£3k!!!

 

We borrowed £24k.....£3k in arrears.....£3k charges. They now say we owe 28K but that's more than the original loan.

 

 

They keep ringing us all hours....I'm at my wits end.

 

I have a wife recovering from a vicious assault and have 4 young children.

 

Please please please any help would be appreciated.

 

Thank you so much.

[newstarter]

This wouldnt be Jigsaw finance in Hamilton would it?

[celticsteve]

The address GE Money had was in Cambridge. GE money will not give me anymore information. They have no details about the broker.....if I could get my hands on him....l

[celticsteve]

I want breakdown of the loan and the charges....they won't help. I can't find any paperwork related to the loan....it's just such a mess.

[rebel11]

Hi celtic

 

If you've been sold PPI, but stated that your employment was self-employed, then that PPI would never of covered you. The first thing to do is get as much information together as possible.

[celticsteve]

I've tried to get more info....but they won't help me. Thanks for your help rebel.

[Lea_HTH]

Do you have another job yet?

 

Your biggest difficulty is going to be meeting the secured loan instalment plus an amount towards the arrears. When you say you have no paperwork, does that mean you do not have the agreement that you signed? It's quite important as it will indicate whether the secured loan is regulated or not. If it is regulated, there is an application that you can make to the courts.

 

You need to find that information immediately.

 

In the meantime, answer the following questions:

 

1. How much is the first charge?

2. Are there arrears, if so how much (be exact)?

3. How much is the current instalment?

4. How many years and months (exactly) are left on the mortgage term?

5. How much is the property worth?

6. How much is the secured loan?

7. How much are the arrears?

8. How many years and months (exactly) are left on the secured loan term?

9. Do you have any other debts, secured or unsecured, and are there arrears on them?

 

Fill in an income and expenditure form - at the top of the forum you will find a sticky thread created by Ell-enn which contains a download expenditure form, use that.

 

Indicate whether you have an income - include yours, your wife's, and any benefits (e.g. child benefit, tax credits etc).

[newstarter]

Got em,yes loans for self employed.Right,they have not gone bust but have sold your secured loan on to G.E Money which they are entitled to do ,first off stop worrying you are not going to loose your home over 3k arrears of that im as sure as i can be.However you need to start the ball rolling now,first off i would be wanting the credit agreement and a breakdown of all charges,dont talk to them on the phone,everything in writing from now on.Also do a S.A.R request you wont get it back for a court hearing but will come in usefull for claiming back those charges.

[rebel11]

Hi Celtic

 

I would send a SAR request, they have upto 40 days to respond, it will cost £10, they have to send all the data they have. Send it recorded.

 

http://www.consumeractiongroup.co.uk/forum/content.php?417-A-Subject-Access-Request-for

 

GE Money Home Lending, Building 4, Hatters Lane, Croxley Green Business Park, Watford, Hertfordshire WD18 8YF

 

I'm not sure how much information you can get via :- http://www.consumerwiki.co.uk/index.php/DCA:_Using_CPR_31.14_to_Your_Advantage

 

Infact you could do both.

[rebel11]

Hi celtic

 

Get the SAR off first, leave the CPR31.14.

[celticsteve]

Hi celtic

 

Get the SAR off first, leave the CPR31.14.

thanks for the advice. What is a SAR?? The loan was taken out definitely with Jigsaw. I am unable to locate a cop if the application form. I

[rebel11]

This is what a SAR means :- http://www.ico.gov.uk/for_organisations/data_protection/the_guide/principle_6/access_to_personal_data.aspx

 

In post 9 you will find where to locate the Template.

 

Lets see what info GE Money send.

 

thanks for the advice. What is a SAR?? The loan was taken out definitely with Jigsaw. I am unable to locate a cop if the application form. I

[celticsteve]

Ah thats brilliant. Will do that now. Do I have a case for mis selling of the loan? I feel disgusted at the way I'm being treated. Thanks for your help everyone.

[rebel11]

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html

http://www.financial-ombudsman.org.uk/publications/factsheets/payment-protection-insurance.pdf

 

I think we have to wait for the information.

[Lea_HTH]

I was under the impression from your first post that you wanted help to sort out the eviction - but you have totally ignored the questions asked of you - the answers to which will give a better picture of your likelihood of success - to focus solely on information that isn't going to help you stop an eviction.

 

Your choice.

 

To answer your question: On the facts you have presented you do not have a case for mis-selling - you were complicit in the transaction in that you falsified information on your application, so you would not come to court with the equitable notion of 'clean hands'. Even if you did, rescission would be the outcome of a missold loan, and unless you can raise the funds to pay back what you borrowed in the first place, even that is not a 'win'.

[rebel11]

This is the sticky refered too:- http://www.consumeractiongroup.co.uk/forum/showthread.php?325527-CAG-guide-Are-you-facing-eviction-or-repossession

 

Do you have another job yet?

 

Your biggest difficulty is going to be meeting the secured loan instalment plus an amount towards the arrears. When you say you have no paperwork, does that mean you do not have the agreement that you signed? It's quite important as it will indicate whether the secured loan is regulated or not. If it is regulated, there is an application that you can make to the courts.

 

You need to find that information immediately.

 

In the meantime, answer the following questions:

 

1. How much is the first charge?

2. Are there arrears, if so how much (be exact)?

3. How much is the current instalment?

4. How many years and months (exactly) are left on the mortgage term?

5. How much is the property worth?

6. How much is the secured loan?

7. How much are the arrears?

8. How many years and months (exactly) are left on the secured loan term?

9. Do you have any other debts, secured or unsecured, and are there arrears on them?

 

Fill in an income and expenditure form - at the top of the forum you will find a sticky thread created by Ell-enn which contains a download expenditure form, use that.

 

Indicate whether you have an income - include yours, your wife's, and any benefits (e.g. child benefit, tax credits etc).

[celticsteve]

I was under the impression from your first post that you wanted help to sort out the eviction - but you have totally ignored the questions asked of you - the answers to which will give a better picture of your likelihood of success - to focus solely on information that isn't going to help you stop an eviction.

 

Your choice.

 

To answer your question: On the facts you have presented you do not have a case for mis-selling - you were complicit in the transaction in that you falsified information on your application, so you would not come to court with the equitable notion of 'clean hands'. Even if you did, rescission would be the outcome of a missold loan, and unless you can raise the funds to pay back what you borrowed in the first place, even that is not a 'win'.

thanks yes....wanted to get help as well to stop the eviction. I'm just trying to sort out what I will say in court. Your advice was very helpful.

[WorriedwithmoneyUK]

To stop the eviction you could contact your local council and ask about the Mortgage Rescue Scheme. They will help you. Worst case scenario is that the Council buy your house and pay off all loans and Mortgage secured on it. You are still able to live in your house but you will be a tennant, but as we all know council house tennants get help with everything from then on.

 

Another option is that the council give you a one off grant, which will pay the arrears off, the only thing is that you have to prove that you can maintain the loan payments from then on because they will not give you the grant if 6 months down the line you are in arrears again.

[celticsteve]

Court case is next Wednesday.....now getting worried as the day get's closer. Do you think the will suspend the order. My poor wife was the victim of an serious assult and that court case has been adjouned until the 17th Feb.....it's really a stressful time. I intend to go on Wednesday......I hope thing go my way. Thanks for you advice on this thread.

[celticsteve]

Court case is tomorrow.............any help anyone could please offer me. Quite scared and nervous now.

[celticsteve]

News from today judge adjourned the case whilst we got defence for charges and ppi mis-selling.