GE Money home lending (formally i group)

[juicy]

Hi Boy,

 

I see that I Group settled for £500, did you accept that? I am really worried about sending my 2nd letter, I don't have to send the 1st one as they have told me what my charges total over the phone so am gonna go straight ahead with my 2nd letter.

 

I would appreciate any advice you have,

 

Thanks Juicy

[:Boy:]

Hello,

 

The £500 was for an ERC not charges. The charges seem to be on a diffrent statement. They are not added on the mortgage, but I pay for them seperatley, so I can't claim for something that I have not paid for...yet!

[Goldlady]

We had visit from GE's appointed debt counsellor last week. Nice chap, dressed a bit like a bailiff, but no progress at all. GE will keep charging us £40 for each month we are in arrears, as long as we keep below 2 months arrears they can't repossess, they will not add arrears to the end of the loan, will not extend the term, total and utter brick wall. He also told us the courts cannot vary any agreement (not entirely sure if this is true or scaremongering on behalf of GE). And suggested that I bump all my unsecured creditors (who have all been extremely reasonable and helpful so I feel bad about doing that) just so GE can get their pound and a half of flesh. I am going to write to them all and explain that I can no longer make the reduced payments they have kindly agreed to and give them GE's address. Crazy thing is about £10K of the debt is with GE themselves via various storecards!! I won't feel bad about them I guess.

 

Still would like to hear of anyone who has succeeded against them in a repossession hearing.

[bricky]

Don't be fooled by there counsellor's, they are just seeing you to get money out of you.

That's all.

I would write of to GE in the form of a complaint asking how they justify A) Sending someone around who tells you to stop making payments on your other commitments? Could GE explain if this may have a negative impact on your credit rating and if so, how can this be suggested as it is clearly not in your best interest?

B) What qualification, if any, this counsellor has? You are merely asking as you need to justify the cost to yourself? That and the fact that the advise/counselling offered really didn't go far at all has it?

 

I Have found in the past and even on present cases, if you are prepared to make any payment to the lender, even a token payment, if stands in your favour if they threaten you with court action again...

 

Keep fighting!!

[:Boy:]

Again, I have all of this from them.

 

They have a kind of 'duty of care' to a customer, and whatever payment plan you make, they will accept. Just write to them with your payment proposal, but don't over commit yourself. And don't be frightened to go to Court over this. I have my Court date of Thursday!

[Goldlady]

I hope tomorrow goes well for you, Boy. I'm sure you'll let us know.

[maybelline]

good luck for Thursday!

[Bona]

Goodl uck

[Goldlady]

Have just been told today that GE Money could not have succeeded in repossession proceedings as they were second mortgagee only - so am contemplating reclaiming the hundreds of pounds they added to our account. Has anyone heard how Boy's court hearing went?

[monkeyface1312]

Sorry if I have interupted but I am new to this website. Would someone be able to answere this question for me? Can you tell me if you stay with the same mortgage company or loan company and you re-mortgage with that same company are they legally right in law to charge these early repayment penalties . The reason I am asking this question is that I know of some companies who say they do not charge early repayment if you take out a similar mortgage or change mortgage product with them. Some companies do not tell there clients that the new mortgage companies they are taking out the new mortgage when re-mortgaging are part of the same company they are dealing with in the first place so they end up paying large amounts of early repayment settlement penalties. Its usually only after they have taken out the loan that you find out they are part of the same company and been ripped off with these charges.Is it possible to get these early payment penalty charges back from such companies if they are breaking the law?

[Goldlady]

I am not sure about legalities but we are about to remortgage with same company who have penalty charges and broker says they will not charge - but I have no idea whether they are legally obliged not to. I think there are other people on this site who are chasing repayment of similar penalties, hopefully one of them will have more knowledge about it.

[monkeyface1312]

Thanks Goldlady

Just make sure before you sign, the brokers dont always tell the right tale, they are in it for the money as usual . If the brokers are doing the re mortgage from the same or associated company, why cant they insist that the lenders lend the money without these penalty charges or early repayment charges.The brokers get a good payout fee from the lenders if it goes ahead so their usually is some catch either with a good fee or higher intrest charge on the loan.

[:Boy:]

Sorry I have not got back to everyone, I have been a busy bee at work recently.

 

I did not attend the Court hearing, we phoned the Court on the day as we had not heard anything, and they advised us that they were advised that we had made a payment the day before, and that the case has been adjourned, and there is no need for us to attend as the Judge would not be presiding.

 

Now we have found out this week that the judge did attend and that we did not, and the case has been 'thr matter be adjourned generally with liberty to restore'.

 

I feel let down by the Court as we could of attended and got our monthly payments reduced. does anyone know what this means?

 

Once again sorry for not posting recently (working 0515hrs to 1715hrs shifts...its a real bugger!).

[maybelline]

who told them it was adjourned, has it been interpreted in this way by the clerk? you have to be really careful when dealing with GE.

[maybelline]

Purple Loans: UK mortgages and home loans

 

these people are clearly GE,for example, but whether you would pay erc as a seperate company I cannot say, I hope someone with better knowledge of the mortgage industry will come on to clarify. also -

 

Welcome to the First National

[:Boy:]

It was the Court clerk who told us that it was adjourned and there is no need to turn up. I would actually like the hearing to go ahead, and to put some form of complaint in as we could of turned up, as I believe we have not been treated fairly, and we could of put our side of the story across with our treatment from GE Money.

[Bona]

Boy just sit tight it is a formalaty the Judge has to make an order if you had turned up and argued for reduced payments he would have adjourned it for the other side to be there then you would have had to pay costs what happens now is nothing unless you default on your payments try to pay the next few months they ask the mortgees if you can reduce and say if they dont agree you will apply for the hearing to be restored in my opinion its best to keep your head down pay what you have a greed if you can at least you can sleep knowing that nothing will happen untill either you default or you make it and you have been spared costs which can mount up in these cases. if you go back to court to have your payments reduced or object to what has happened they will just get a solicitor and charge your account so you will be worse off

 

Hope all goes well over the next few months

 

Bona

[maybelline]

can I just pop in here to mention the trouble I am having now with GE with regard to buildings insurance, I wonder if anyone else has experienced this but they keep putting buildings insurance premuims on my account even though I pay this myself to a different insurer (much cheaper!) they wont refund the hundreds without asking me to pay £25 for the privelege, BUT I have sent them the twenty five quid, no refund just another request for £25, even filled in their form and returned it! I most certainly am not sending yet another £25, I have had some charges returned but held of sending N1 for the rest while dealing with other issues, looks like now I need to add this to the remainder of the claim?

[:Boy:]

Thanks Bona for your advice, I am just a little peeved, and I feel like we have been shafted again!

 

Maybelline, I don't know about the Buildings insurance as we have seperate cover (direct line). Sorry I can't be of any help.

 

Best regards

[Guest peed orf]

Purple Loans: UK mortgages and home loans

these people are clearly GE,for example, but whether you would pay erc as a seperate company I cannot say, I hope someone with better knowledge of the mortgage industry will come on to clarify. also -

Welcome to the First National

 

 

I Group and Purple Loans shafted us good and proper, I want to take them to Court for obtaining money under false pretenses, but I can't get any advise on it.

[hoogie32]

Hello - Thought Id pop in here.

 

After sending my prelim, I just received a lovely worded letter from a Grainne Cullen - Customer Relations Officer

 

The standard letter, you know Our Charges are fair, this is how we work them out and we are satisfied that they are fair and justified.

 

They then tell me to write to Rupert Peacock, Customer Relations Manager.

 

Shall I just send my LBA straight to him?

[maybelline]

hoogie32, maybe you could send a copy of your LBA to him but follow up your prelim to the same party just in case you are giving them more stalling time by entering into discussion with someone new, good luck, keep:)

[hoogie32]

hoogie32, maybe you could send a copy of your LBA to him but follow up your prelim to the same party just in case you are giving them more stalling time by entering into discussion with someone new, good luck, keep:)

 

 

Thank you Maybelline - Sorry for the long delay in responding, been busy at work.

 

LBA's sent today.

 

[maybelline]

just a catch up re buildings insurance, still have no reply on this and am waiting for the refund to my account or by cheque of this fee they have charged despite my own insurance being in place and sent them all the copies. I am thinking of making a complaint about their rates under unfair terms, as I was a sub prime borrower ten years ago and they refuse to alter the rate which is extortionate even though they have been asked many times when circumstance changed, I will be approaching a new lender but still feel strongly that GE tie people in to bad deals for years and make it very hard for them, add on massive charges, and do not offer fleixbility when difficulties arise.

[rippedoff17]

Hi All

Can anyone help, i have been with GE Money / I Group for a number of year and in 2006 i was taken ill and being self empolyed funding was a hugh issue, we informed all my creditors inc GE Money who informed me that i could not claim help unless my company was closed down?, we worked hard to reply to GE Money but fell behind and every time we asked for some extra time we were told NO they would take the house, they issued court papers but we did manage to reply before the hearing, sadly GE Money were unhappy we paid them some money. If seems they wanted the house since then we have manged to pay GE Money every month until jan 07 i have missed 2 payments i have called them today but have been told they are arranging papers again and will be informing the credit agenices that i have missed payments, because of this we are finding it hard the move to another company or are we stuck to this company who have the main task of taking homes and not help their customers.

 

To make matter even harder we have paid the house so we are not made homeless, which and have fell behind on a loan, we set up a payment plan and are making payments every month, yes the company have issued a CCJ now making moving lenders even harder.

 

Any Feedback would be great