GE Money home lending (formally i group)

[maybelline]

hello mariette, is this question for me - if so, I think it was about 2 months payments, it might have just ticked into three but I paid some of it before reaching court and then a family member loaned the rest to me, this action was enough to convince the judge but I dont know what would have happened otherwise, if I remember correctly I had a suspended order for a year and this meant they could repossess if I fell behind again (sorry cant be more accurate than that) it is my understanding that you have to have the relevant paperwork and the opportunity to state your case in court if it comes to that, I had some help from national debtline

[maybelline]

just another thought, GE solicitor was very slippery, and said all the advice from national debtline was wrong, of course I had no way of knowing either way as I was not represented by any other party, I would strongly advise you try to get someone to go with you with legal training, a pro bono solicitors might be able to help or try cab, i think they have a legal aid scheme

 

remember it is the judge who decides, but check all the legal apects thoroughly, and then check it again

[:Boy:]

Well that makes me feel better reading what you have just put! We have had in the post today a letter from the Court, a 'Notice of Possesion Hearing' for the 8th March 2007.

 

We owe £1400 (1 1/2 mortgage payments) and I can 't believe they have gone down this road again, it was last Febuary/March that they took us to Court and I managed to get a loan for £3000 to pay off the arrears then (it did not actually go to Court) and it has happened again. There is no reasoning with this company at all.

 

I don't know what the judge will decide, hopefully that we have tried our best and that we can afford the mortgage, now that we are back on our feet, but do Judges give the companies the house or not? I have 2 kids, 1 on the way and we are both working. We are trying to re-mortgage but because the ERC is £10100 it takes us over our LTV.

 

Any advice?

[gizmo111]

How long have you to go before the tie in is up and you won't have to pay a ERC?

This is not a long term solution but if you ahve short term cash flow problems enquire about changing the terms to interest only for a few months - which hopefully will be long enough for you to remortgage and will allow the excess to pay off the current arrears.

[maybelline]

are they charging you any penalty charges, how about reclaiming them and then you can offset the arrears with what they owe you, since they are already taking legal action you are not risking 'upsetting' them but maybe they will notice you know your rights, try looking up national debtlines website and make sure you put in any and all extenuating circumstances, and say if you will be homeless, make a big point.

[maybelline]

all good advice, I asked GE in the past to change my terms and they refused. they tried to repossess me on two occasions. first time, I dont think I could pay all the arrears off but made a reasonable offer ( struggling to remember but I think I offerred post dated cheques) and stated I had no family, no where else to go. hope this helps.

 

also on second occasion a friend wrote a letter for the court stating that they would act as guarantor on the payments (also a job offer letter, however informal an arrangement)might help. basically pull together as much as you can.

[:Boy:]

I am tied in till August 2008. The wife has been on the phone today looking at re-mortgaging.

 

We are being charged £40 every month for arrears, interest etc etc. Its strange that they are willing to add the charges and the interest to the term of the mortgage, but when the 'Debt Counsellor' asks this they say NO!

 

I am claiming an ERC from GE Money for £1300 plus interest and they have not paid up yet, I am also expecting £1000 from Abbey National, but they have not paid up yet.

 

I have just read somewhere that the Judge will not give a possesion order for under 2 months in arrears? is this true. The joke about this is that really, the £1400 is this months (Feb) payment plus £400 from last month, my next payment is the end of the month, so how does this work that they can apply for repossesion on this. I am so pi*sed off with this. You cannot talk to this company on the phone, they have no interest of your circumstances, and this has ruined my weekend off (I don't get many, trust me)

 

I estimate that we have paid over £1000 in charges to this company, and I am willing to phone their soliciters and state what has been said about the charges offsetting the arrears, or even ther ERC they owe me.

 

God I am pi**ed off......time for a beer!

[maybelline]

have a look at this re: arrears on mortgages information and advice

http://www.nationaldebtline.co.uk/england_wales/pdf/self_help_pack/mortgage_arrears.pdf

[maybelline]

Cheltenham & Gloucester v Norgan

 

also see this :)

[maybelline]

Mortgages – Exit administration fees : FSA Money made clear – Unfair contracts

[:Boy:]

Thanks for the above, its appreciated.

 

As I have now relaxed a little over the weekend, I am now trying to work out what is best. I currently owe £1468.95 on my mortgage, this will go up to £2468.00 plus what ever odd charges they put on, on the 19th February 2007. My Court date is 8th March 2007. I get paid on the 2nd March that brings it down to £1468 odd again, then I go to Court. I will in effect still be under 2 months in arrears.

 

I have calculated that I have paid around £800 in the £40/£35 differents charges since 2005. I am also sueing GE Money for an ERC, which totals around £1600 odd, and I am also awaiting £1000 from Abbey.

 

Once I get the above money this all goes on the mortgage, to get us right, trust me!, but until then, the only thing I can think of when going to Court is to ask to pay the arrears over a period of time (Nolan case). I don't know what judges agree or not to agree on, but I want to pay this off. If remortgaging or selling house crops up, I think the £10110 ERC that eats into our equity is enough said (especially as that buggers up our LTV with getting a mortgage)

 

What do judges do in this situation? do they tend to agree more with the mortgage companies soliciters or are they in the habit of evicting a family onto the streets?

 

Look forward to any replies.

[maybelline]

I have not claimed erc but have claimed the penalty charges from a bank and GE, and they have paid them back (not in full from GE but still proceeding) my point is that this is most likely to be repaid to you with little argument so you might send your LBA to GE regarding the penalty charges for returned DD's etc and worry about the erc part later, if this will get some refund returned to your account to bring it back into the black asap, maybe you could open up dialogue but be very careful you do not take anything as a full and final settlement.

 

maybe others will have more suggestions.

 

my feeling is that if you can pay all the arrears in the next few months then a judge would be unlikely to allow the mortgage co to reposses, you may get a suspended order that will mean you have to stick to the arrangement or YOU WILL LOSE THE HOUSE, best wishes, see the national debtline link, it explains this in it.

[zootscoot]

Hi D5,

 

Only just come across this thread tucked away. I'll transfer it to the mortgage section and ponder on what your options are.

 

Speak soon

 

Zoot

[Bona]

When you refer to your hearing is this a repossession hearing, isit the first time , Bona

[:Boy:]

Hello,

 

I had a Repossesion hearing last year or a Possesion hearing (can't remember as I don't have the paperwork now), would of been July/August time. I never attended and it was suspended as we cleared the arrears (took out a loan) before a date was set (I think). I remember getting letters from their Soliciters and advising them it is upto date now, but I don't remember a letter from the Court.

 

This is a Possesion hearing on the 8th March 2007. I am still gobsmacked, because we will be £1000 (1 month) in arrears in the time, probably less than that. But you can't speak to GE as they are forceful and rude on the phone and want all the money NOW or they make an unresonable offer like £300 every week for the next 2 months, where do these people come from? I don't know if I should be looking forward to the Hearing or not. Just don't want to lose my house.

 

Thanks for moving my thread Zoot, I did not realise I had it in the wrong section, thanks again.

[maybelline]

thats what they said to me, they wanted something like £200 a week, and at the court, before going in, their solicitor asked to speak to me (big mistake) she came across as a bully, I was alone and she said that all my information was wrong and kept going on about how I had to pay that much becaue the offer I had worked out (with national debtline in great detail) did not include interest?? anywya, it was down to the judge not them to look at whether my sincere offer to reduce the debt and maintain the account was reasonable. when you get to the hearing, ask the judge NOT TO AWARD THEM THE COSTS, as they will add it to your account after it is all sorted and you will be back at square one, ask for a copy of the decision and the fact that the judge has not (if so) awarded the costs to them. If it does not get mentioned GE will just go ahead and put their costs on to you.

[:Boy:]

Thanks for that Maybelline, it is appreciated. I am hoping that it will not get to the Court stage, as hopefully the arrears will be paid off; or if I am mistaken, is this going to go to Court anyway?

 

I am tempted today to phone the Soliciters and advise them that I am only £400 in arrears, the other £1000 is Febs mortgage amount, or is there no point in doing this?

 

Look forward to some more of your valuable advice.

 

Best regards

[:Boy:]

Well then, the plot thickens.

 

I have contacted the Soliciters and they stated that as long as the arrears are cleared by the court date, the case will be adjourned.

 

I then spoke to GE Money, they told me the arrears, and that if they are cleared by the court date, all sorted. But then they added that I have another monthly payment on the 19th February, and that that has to be cleared as well before the Court date (8th March), otherwise, see you in Court.

 

Now the arrears will be cleared at the end of the month, no problem with that. But the normal monthly payment as well? that seems unfair. It would be a hell of a struggle for us to pay that as well before the Court date. Is this right, and surely a judge would not give the house over to them for a current mortgage payment?

 

Look forward to any advice.

[:Boy:]

Just to add to that, the monthly payment due on the 19th Feb would be paid around the 10th of the month, GE Money would not change our mortgage date!

[Bona]

so you will have paid Febuary and Marches will not be on your account on the 8th of March so you need to know exactley what arreas you have at that date then write to GE Money offering to pay somuch extra over a six/nine month period ask them to agree to an adjournment if they say no go to court show the judge the letter take with you a list of income and expenditure so you can show that you can afford it , no Judge will take your house away if they think you can repay the arreas he will then give you an order to that effexct if they ask for costs tell the Judge that they were being unreasonable in not accepting your offer and that you should not have to pay the costs , they will arguue that under the terms of the mortgage you have to pay reasonable charges then see what he says, I had several possession hearings and the Judge was always sympathetic as long as he thought you are trying

 

Bona

[:Boy:]

Thanksfor that Bona.

 

So what you are saying, if I am right (probably not) that March's payment, I do not have to make, but write a letter to GE Money stating that I can pay an extra £200 per month for the next 5 months to clear that payment? then show that to the judge, stating that I have made a resonable offer (God how many times have I done this with GE Money and they have said NO!)

 

I know it would be better to make March's payment, but we will be skint and living like monks (kids as well) and not paying any other bills for 1 1/2 months. The most annoying thing is, is that I can make the payments, we are just getting back on our feet.

 

In terms of costs, well my LBA letter is going out today re the charges. But if It comes to Court I will state what you have said.

 

Sounds like a daft question, but is it worth going to court anyway?

[:Boy:]

ahhh, I think I have misjudged you.

 

The current arrears today is £1400 odd. This does not include my next payment for my mortgage on the 19th February. If a Hearing and details from Soliciters have been sent to me before this payment i.e 2nd Feb, can they still include the 19th Feb payment in with the Court case, or should I pay the 19th Feb amount as normal, and as and when I get money to clear the £1400 keep paying.

 

And also now send a letter making a payment proposal to GE Money for the £1400?

[Bona]

Yes if you dont go to court they can say anything as long as the march payment is not due buy the ccourt date keep it till is is due or when you normally pay it, whatch what they say you owe GMAC always added on the next payment and said I owed even when it was not due

 

If you paid of the arreas before the court date then if you owed nothing the case would be dismissed but I think you option of extra a month is better also dont spread yourself thin say to the Judge you can pay 200 a month but 150 will be easier

 

Bona

[:Boy:]

So if I am right, this hopefully would be my plan of action:

 

Send letter stating that I can pay, say, £200 a month for the next 7 months to clear the arrears, today

 

Send LBA letter for charges back (£625), today

 

19th Feb, pay normal mortgage payment (this would be the paid on the 2nd March, when I get paid)

 

2nd March use any extra money left over to pay mortgage from my wages (probably £200)

 

2nd March, use £500 of wifes wages to pay mortage (this would bring it down to £900)

 

Any money inbetween to pay off arrears otherwise:

 

8th March Court case, plead my case.

 

Would this be right? or on the 2nd March use all of our money to pay mortgage, which would probably leave around £200 oweing in arrears in total of Feb & March's mortgage?

[Bona]

Do you need your wifes wages to help with normal monthley payments or can you manage to pay the 19th of marches paymeny on the secon of April