GE selling mortgages to another company

[jacqui_o]

well it appears the GE are readinghtis post with interest is my guess!!!!

 

because the increased the court order by £3 odss the direct debit was returned and I am being charged by the bank for it...

 

This morning I have just received a letter telling me that as I have not kept to the agreement they are now calling in the remaining £708.77 pounds within 7 days...

 

Should you be unable to forward the amount please call us on the above number so we can discuss alternative proposals.

 

So what are the chances of them supplying the information requested........lol

[jacqui_o]

Just phoned GE to clarify the court amount and it is £103.44... sorry the court order states £100, on what authroity have you increased it by?

 

response well you will pay it off faster...

 

well I am paying my normal monthly payment plus a hundered which does not come out at the figures you are quoting.... you are nto listening we have increased you payment... asked when the interest rate increase took place, it has nothing to do with that..

 

it is fees and charges we are adding to the monthly payment...

[jacqui_o]

Any Ideas?? a slight revamp of your abouve letter ell-enn possibly?

 

as GE are obvviously reading this would prefer not to post my other thought but happy to pm it...

[Laywoman]

Sorry to butt in but surely the court order will be for CMI (current monthly installment) plus £100.

 

The CMI can go up or down so you have to pay whatever it is (£388, £499 whatever) plus £100.

 

Dont know about the extra £3 but perhaps they have added the court fees to the arrears? Even if they have, a flat £100 on top of whatever the CMI is now will be what you have to pay.

Edited January 20, 2010 by Laywoman

[jansus]

http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/225928-ge-money-change-terms.html

 

 

read posts 8 onwards - interesting

[jansus]

I think also you have to take into account that the court based their figures on affordibility. So if you can not afford the new payment plus the arrears you may have no choice but to go back to court.

 

But I do think one letter is worth a try and keep a copy for court hearing.

 

But please read the thread linked above.

[jansus]

Try not to speak to them on the phone- do the letter that Ell-enn suggested. Pay what ever you can afford. If that is the new MP and the arrears then do that for the moment. If not ,pay what you can and you will have to explain that if you go to court. Make sure if you can that the arrears are at least reducing.

 

Presumably as you did not go to court they based your affordibility on your budget at the time? which I assume has not changed?

[jacqui_o]

Got a response today....

 

Further to your recent communication.

 

We can confirm that our correspondance dated the 15th January 2010 regarding the increase of your instalment dated is incorrect and was sent in error.Please disregard this letter and accept our apologies for any inconvience caused,

 

We can however confirm that from 2nd March 2010 your instalment wil be £452.88.This is an increase of £1.32, which will be applied to the fees and additional interest on your account.

 

If you are unsure as to any of the content of this letter, please donot hesitate to contact us.

 

Yours Sincerely

 

GE Money

[jacqui_o]

Funny I did ask clearly for a break down of how they arrived at that figure and also which section of my mortgage contract covered this, odd they did nto reply to that part!!!!

 

have already sent off Ell-enn letter before this came in....

 

 

I paid what they are showing as my monthly payment 388.93 plus 100 yesterday and have sent a letter off today telling them that and enclosing a copy of the court order, which no where says anything about fees and additional interest at all..

[jacqui_o]

I have had a resposne from GE about one of my complaints....

 

Thank you for your letter dated *****

 

I'm sorry ot learn you're unhappy with ht eservice you've been receiving from us.

 

Firstly, I can confirm your arrears balance at today's date is £670.33. I'm please to see that your arrears balance is reducing and our records show you've been paying your account in line with the court order.

 

The litigations department will continue to contact you if the payments are later than expected. You'll appreciate it's important that whilst your payments are beingmade each month, to make sure you pay onthe dates set by the court order, which is the *******of each month.

 

When the hearing took place last October I note from your account that we'd received a payment of £715 on the *****. As you made this payment the day before the hearing, our records would have unable to update itself till the following day.Due ot this delay we were unable to inform our solicitors in writing, Had you been able to attend court this point may have been clarified.

 

From you payment history I see that your arrears date back to January 2004. During this time, your account has been incurring a late payment fee of £40 each month, everytime your account was more than 10 days late and in some instances the direct debit recall fee was £25. I've noticed you've recently been paying by debit card as a prefered method and onthis basis I've cancelled your direct debit so you dont incurr this charge going forward. If you wish to have your direct debt reactivated then please call the litigations department and they'll be happy to assist you.

 

Your account currently has fees and additional interest that total £11.389.91. Every three months, account in arrears that hacve accrued an outstanding fees and additional interest balance are reviewed.The balance is divided into the remaining term of the mortgage to calculate the firgure that is added to your monthly instalment. This is to ensure that once you have complete the term of your mortgage you'll have nothing further to pay GE Money.

 

If you have any questions or would like to discuss my offer further, please let me know.

 

Aleternatively, if you feel I have nto invistigated your complaint throughly, youmay refer it to our Escalations Team, at the same address, who will carry out a further review.The enclosed complaints leaflet explains what to do. It also contains how you can refer your complaint to the Financial Ombudsman Service, should you ultimately be unhappy with GE's proposals for resolution.

 

Please note that should we not hear from you within 8 weeks of the date of this letter your complaint will be closed.....

[jacqui_o]

I would appreciate any suggestions on the next move for this complaint..... there are a few details that appear wrong in the figures........

 

15 January the arrears were £715......less the £100 paind on the 2nd feb........balance 615.. not 670 as they have.....

 

Surely they must have the exact figure when the go into a court room?

 

Yes on and off the account has been in arrears from 2004. but on reading that it alludes to it being constantly in arrears.........

 

Now this is the first time in all this time they have actually carried out this review.......I stopped paying by dd when they started increasing the amount every monthj...

 

now maths in not my strong suit but he is implying the account is in arrears all the time so that makes 72 months at 65 pm. which is 4680.slightly different from the firgure they quote....

 

on top of that is the additional interest and the house insurance and they're solicitors fees....

 

Now they expect us to pay that over the next 250 months and the interest they are charging on it......!!!

 

Advice on a respone to this letter would be grately appreciated....

[jacqui_o]

Anyone got any ideas......

[jacqui_o]

Is there anoyone who has any advice on which way to move forward?????

[jacqui_o]

I have just being going through the Broker paperwrok for this mortgage and notice on page 3 of they're paperwork that thereis an arrangement fee of £2,500.............there is also an introduction fee of £1059.50 from the lender....

 

does this mean that GE paid the broker that for them giving us to GE? and is that allowed?

[Dylanspike]

Hi, i have a mortgage with GE and i have been paying my arrears now i only owe about £100 we claimed back £1000 in unfair charges which now leaves about £1500 (in charges). I had a telephone call from them asking if i want to add these charges to my mortgage balance. when i asked about the adantage of this he was quite cagey so i need some advise?

[jacqui_o]

My oh in in receipt of pension credit and has been since feb of this year , due to ill health....

 

Pension credit took over the mortage, we have all the paperwork, confirminghte rates ect.

 

they made one payment in April, and nothing since, I phoned them and phoned them and eventually wrote to them, got aletter back tell ing us they were sorry but an internal error had caused a problem.

 

that had now been fixed and the missingpayments would be made on the 17th May, and the person sending the letter would be monitering the situation...

 

That is the last we have heard, still no payments, and nothing in writing from them either.....I have written 3 times in Junbe all recorded delivery but nothing.

 

2 days ago got a letter from GE that as payments were not being made if the arrears were not cleared within 7 days they would be applying to the court for possesion.

 

There is a suspended order......... we have paid our arrears off, but the dwp are not paying theres.....

 

I have phoend and written and am getting nothing, does anyone have any ideas of what or who I can contact..

 

oh yes over and above that because the dewp pay 4 weeks in arrears, we are being charged just under £200 per month between interest and adm charges.

 

any advice would be most helpful

[jacqui_o]

I went into the county court this lunchtime and submitted a small claim agains the DWP for 14 weeks pension credit.....

 

so we wil lwait and see how fast they move now...

[honeybee13]

Well, I hope it goes well for you. Please keep us posted.

 

HB

[jacqui_o]

will do:)

[Guest Mrs Hobbit]

Is DWP paying the interest or the full mortgage?From experience DWP paid the interest only and I paid the shortfall (generally the principle). It was paid every four weeks.

[jacqui_o]

that is what is supposed ot be happening, they have made 1 payment and nothing since, this has beenongoing for months.......

 

2 recorded delivery letters no response. last week they were emailed from they're own phgone lie staff as a matter of urgency..... normal response within 5 days. ntohing..

 

mortgage company threatening court action....

 

so they left me no choice, if you cant ocntact them , they wont answer letters or enquiries fromwithin what other alternative is there!

[jacqui_o]

I was wodnering if anyone has considered using this against GE...

 

my reason for asking is that they gave fales arrears figures to the court for the possesion hearing, they were actually half what they claimed........ excuse. oh we didnt have time to tellthe solicitor......

 

they also added fees and charges to our monthly payment increasing it by £65 per month...

 

now I thought fees and charges were a totally seperate issue ... and they could not do this.....

 

hence bymy way of thinking theyhave commited 2 acts of fraud?

anyone got any ideas and or suggestions?

[jacqui_o]

Does anyone have any thoughts on this ?

[jacqui_o]

Is there anyoen onthe site, who has any pointers or ides or adivce?

[sillygirl1]

No, you can't push this angle of fraud, it is far too complicated to get it into the courts, has been tried and failed by the Rankine case on bank charges, they sadly have made it very difficult to try 'legalities' on contractual terms.

 

If you have got a case for claiming back the charges for GE the route to go down is to issue a 14 day notice of claim, then a 7 day notice of legal action then an N1 court claim.