GE Money Arrears Charges

[Camaro3]

Hi all, haven't been online for a while due to wife's MS and fighting a battle with PIP (but that's another story).

I have a secured loan with GE Money (formerly I Group) with charges for arrears. GE Money increased my payments to recover the charges and I have been looking at trying to reclaim them, but, as there is still several hundred pounds outstanding, I decided not to rock the boat for fear of them trying to repossess and also the effect it may have on OH's health.

 

 

So I came up with a plan, as I've just turned 55, take a lump sum from pension, pay off charges and then try to recover what I've paid. I have received a letter from GE this week stating that they have sold my account to Elderbridge, (only giving me 7 days notice).

 

 

Do I now have to go after Elderbridge for a refund or GE Money? I say this because I have already paid GE Money over £2000 in arrears charges and, I assume Elderbridge will want the remainder of the charges.

 

 

Any advice appreciated.

[dx100uk]

GE money all the way

don't waste your pension please!!

 

 

have you all the statements?

if not sar GE .

[dx100uk]

http://www.consumeractiongroup.co.uk/forum/showthread.php?452397-Claim-for-GE-money-fees-***-Settled***

[renegadeimp]

Get reclaiming ALL those charges and don't even consider paying a lump sum off

[Camaro3]

Hi all, thanks for the replies, I'll SAR GE Money, and as dx says leave the pension where it is. Now back to the battle with PIP.

[martin2006]

start with a SAR as suggested and then reclaim absolutely everything that isnt normal monthly payments and interest, read the above link to the end and youll see why

[Camaro3]

Hi DX & Martin,

 

 

This year just gets better! (wife MS relapse, now me with TIA!).

 

 

I've received the SAR from GE Money, however it only shows the current interest rate i.e 1.083% monthly (13.8%APR). Although it's not the average, am I alright to use this in the Statutary Interest Calculator? Secondly, there appear to be two types of additional interest, (additional interest + additional interest-SI) do I include both?

 

 

Finally, the loan has been sold to Elderbridge ltd with the outstanding balance being the remainder of the loan + the charges. (I believe the outstanding charges balance was @£800 before the loan was sold). Do I now contest the balance with Elderbridge?

 

 

Thanks for any advice in advance, it's been a difficult year.

[dx100uk]

you cant reclaim any interest listings in the statements

the CISHEET does that bit for you.

 

 

take that APR and enter that in to cell d15

then enter every fixed sum fee

date/type/amount

each on its own row

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

[Camaro3]

Hi DX,

 

 

thanks for the quick reply will use the CI calculator. any suggestions on the transfer to Elderbridge?

[dx100uk]

https://cse.google.co.uk/cse?cx=partner-pub-8889411648654839:6449422593&ie=UTF-8&q=Elderbridge&sa=Search+CAG#gsc.tab=0&gsc.q=Elderbridge&gsc.page=1