ge money car loan

[sowerby17]

Well sent prelim to ge money for charges on a car loan totalling £450 approx they have sent letter back to me saying i cant claim as auto finance is not covered by the oft ruling. I was under the illusion i could claim back the charges.Any idea anyone?:o

[sowerby17]

any one out there to answer my quetion?

[mrsfoot]

It makes no difference whether they are covered by the ruling. Idf you read the OFT report only credit cards are required to comply but banks, mortgages and other lenders are suggested. I think you ned to read the OFT report if you havent already and fully understand the procerss and the facts behind it

 

good luck

[sowerby17]

ok so what you mean is they are trying to fob me off?

[reidnet]

ok so what you mean is they are trying to fob me off?

 

YES They are trying to fob you off.. Carry on with the next stage of your claim.

Good Luck

 

Ian

[sowerby17]

Gosh i am thick will carry on.Thanks.

[Rathercross Charlie]

Sowerby,

 

I'm chasing GE for £650, they've done exactly the same with me.

 

Don't be put off!

 

I've just settled in full what they claim is due and the moment I receive the letter I've requesting detailing all charges over the life of the agreement, my MCOL summons will be issued!

 

I shall also be issuing DPA proceedings if they've messed up my credit file.

 

Charlie

[reidnet]

Unless they produce evidence that the charges they applied to your account are a true representation of the loss / Cost to them, then it is simple .. It is a penalty charge and we all know that penalty charges are unlawfull under Common LAW.

 

The Law is there for the for your protection. Let them stand up in court and prove that their Penalty Charge are fair, Make them disclose the true cost , but of course for commercial reasons they will not have the balls to do that.

 

Good Luck

 

Ian

[sowerby17]

Well lets hope they pay up before it gets that far.

[sowerby17]

looks like i am going to have to take them to court as they have said once again that autofinance is different and i cannot claim them back. LOL we shall see.

[sowerby17]

Well I phoned them up to see if they would settle and got a no way so going to have to take them to court. They adamently say that auto finance and loans is not covered by oft ruling and i will not get any money/

[sowerby17]

Hello anyone there?

[steven4064]

As reidnet says, it's about the lawfulness of penalty charges for breach of contract. The OFT ruling is completely irrelevant - I wouldn't even mention it myself - it just confuses the issue.

 

The case is very simple:

1. You breached your loan agreement by making payments late

2. As a result they put charges on your account

3. These charges are far more than they actually lost as a result of your breach of your agreement

4. Therefore the charges are penalties and are unlawfaul at common law.

 

People put in the OFT statements as 'evidence' for item 3. You can use the UTCCR1999 as well. And you need to marshall other evidence which can be found here http://www.consumeractiongroup.co.uk/forum/guidance-notes/64911-got-court-date-guide.html although you may need to modify a bit for this claim.

 

What you could do with getting hold of is a copy of the loan agreement to demonstrate item 1 - this is where some cases have fallen down.

 

Have a read of the thread in the link above and, if you haven't got a copy of the loan agreement, try and get one fomr GE (website or write to them) and we'll take it from there.