Is it still possible to reclaim charges from GE Money

[saviour1263]

I have been in contact with GE Money . They have sent me a pile of statements for the last 6 yrs since the loan began ( i only asked them to send the charges since that date but got all the payments ,etc) .. Can i still reclaim charges for failed direct debits etc .. the "person" from gemoney on the phone is trying to fob me off with you can only get failed direct debits charges back with good reason ie lost job ..Im not going to listen to that as i don't believe he is being totally honest..

Can you good people at CAG tell me wha to look out for on these statements and can i reclaim the charges for unfair not reflecting the true cost of the charge or somethng like that ... he wants me to underline the "charges i think are unfair" .. on the statements i have solicitor interim legal fees, admin fees, dd recall charges,additional interest fees ,interest-due date change ,debt counselling inv, all charged on my gemoney loan all running into thousands ..... is there anyone on here that can help me decide what to reclaim if its possible .... thanks hopefully in advance

[saviour1263]

Ok i just got a letter from them headlined "All Charges Statement" .................... direct debit recall charges , Admin fees default notice charges, Solicitor Interim legal fees , valuation fees , default notice charges ,debt councelling invs , (many many charges and fees) in total the charges come too over £2000 ......... can i reclaim on ANY of them ..................... please if there is anyone who can help

[ims21]

You can reclaim penalty charges, yes.

 

From the list you have provided you can reclaim the DD Recall charges and the admin fees.

 

The legal fees, valuation fees, DN charges are not reclaimable.

 

Did you actually receive debt counselling visits?

 

For the ones that a reclaimable, fill out this spreadsheet using the interest rate applicable to your loan and let us know what figure the sheet comes up with.

 

CISheet v101.xls

[saviour1263]

No i have had no visits from anyone

[ims21]

OK so you can reclaim the counselling fees as no such counselling took place.

[saviour1263]

there is abut 20 admin fees and 10 recall charges wow

[saviour1263]

I can't open the CISheet

[ims21]

Have you got Microsoft Excel on your computer?

[saviour1263]

just trying a different laptop

[saviour1263]

ok just downloading microsoft excel

[saviour1263]

whilst that is downloading the total amount of the charges i can claim comes too £1543.00 without interest @0.688% current monthly rate

[ims21]

You will need to enter each individual charge into the spreadsheet giving its date and a description.

[saviour1263]

ok this could take some time lol excel is still downloading once it is done and i have entered the amounts etc i will pop back on here later lol thanks ims21

[ims21]

Okies

[saviour1263]

ok its all done the figure is £1720.00

[ims21]

ok its all done the figure is £1720.00

 

Exactly £1,720 with the interest as well?

[saviour1263]

yes well £1720.20

[saviour1263]

there was a few charges i couldn't include but did in my first adding up ...

[ims21]

Ok so the next step will be send a preliminary letter and a print of the spreadsheet to GE.

 

So we can point you in the direction of the correct letter can you say whether this is a mortgage, secured loan or an unsecured loan please.

[saviour1263]

its a secured loan ims21

[ims21]

OK here's a template letter you can use. You will need to amend it to include a paragraph about the counselling fees where no such counselling took place and then check that the letter suits your circumstances before sending it off. If you can, send it recorded so that it will be signed for.

 

 

Dear Sirs,

 

ACCOUNT NUMBER: XXXXXXXXXX

 

I am writing to ask you to refund the charges which you charged to my account in respect of administration and other charges to the sum of £ XXXX. I now understand that such fees are unlawful at Common Law, Statute and recent consumer Regulations.

 

In addition your charges appear to represent an unfair term of contract which is contrary to the Unfair Terms in Consumer Contracts Regulations 1999 (SI. 1999/2083). My account falls within the ambit of Regulation 5 of the Unfair Terms in Consumer Contracts Regulations 1999 as I am a consumer. Your charges constitute an unfair penalty under Schedule 2 of the said Regulations, which provide an indicative and non-exhaustive list of terms which may be regarded as unfair. Under paragraph 1(e) of schedule 2 this specifically includes terms which have the object of requiring any consumer who fails his obligation to pay a disproportionately high sum in compensation. I would vigorously contend that this is the position regarding the fees which you deemed fit to apply to my account.

 

 

I believe that the charges you have levied of £XXXX far exceed any true cost to yourself as a result of our breaches and any genuine pre-estimate you could conceivably reach. If you disagree, then will you please demonstrate this by letting me have a full breakdown of the costs to which you have been put to as a result of our breaches, in order to reassure us that your charges really do reflect your costs?

 

Thus I am asking that you refund the charges and other fees which have been levied on my account. I calculate that you have charged £XXXX in fees and that the associated interest on these item is £XXXX making a total of £XXXX.

 

If you do not respond, or you do not respond positively, within 14 days I will put you on formal 14 day notice of court proceedings to recover these charges. I believe that these targets are more than sufficient for a large company such as yours with dedicated staff and departments.

 

 

 

I hope that you will enter into a sincere dialogue with me about this matter and I am writing this letter to you on the assumption that you will prefer to do this than merely respond with standard letters and leaflets.

 

Yours faithfully,

 

 

 

 

 

XXXX

 

 

Enc.

[saviour1263]

Ok thanks ins21 i have downloaded and filled in the amounts etc ... its ready for mailing wiill mail it monday see what happens and donate also when either i get paid or if they surpass themselves and sort this early out of that ,,,,,,,,,,

[banksdomyheadin]

Hi I have exactly the same with GE Money, secured loan, they have sent an annual statement with additional interest and charges, for over £!300 do I start the ball rolling with a statement request and £10 postal order?

[saviour1263]

just recieved a letter and phonecall from ge

[saviour1263]

they have stated they are refusing the letter the fees and can only refund hardship fees with proof .......