some1 plz help

[madmick]

Got a loan with ge for 5860.75 tham isnt adding up fist paymen-t 122.26 58 payments of 122.26 and final payment of 321.26 minus 524 trade in total credit 5336.75 total amount payable 8058.60 if you check the figures 524 of the loan is missing so is the whole loan void and can i get it all back i have been told i can its regulated by consumer credit act 1974 could some1 advise me please

[madmick]

Re: some1 plz help

No ppi on the loan already checked am i correct in saying if a loan or hp doesnt add up it is void and new owners have confirmed no ppi should i get a full refund an the 8 percent on top each year

[Nic]

Re: some1 plz help

just bumping for u

[miliitant]

Re: some1 plz help

do you have the agreement to hand

when money such as a trade inn vanishes, the norm is that it is used to fund some sort of commission payment to the salesman or ppi

[Guest]

Re: some1 plz help

When was the agreement taken out

D

[madmick]

Re: some1 plz help

I have been told by company that the figures dont add up and i have requestd to have all money back that has been paid basically the whole agreement is void . A it doesnt add up and the figures are wrong so therefore the debt should be written off and all money that was payd should be redeemable as its is a false agreement that is regulated by the consumer credit act 1974 all figures should be in black in white if not the agreement is unenforcable

[madmick]

Re: some1 plz help

I am not the type of person who wants to get out debt iu anyway but the way companys lend it a carless way and basically rob us then maybe they deserve this i had payd the agreement and just Lookd over it and relisd the figures didnt add up so for this large company basically ripping me off the deserve this and i have just noticed the another agreement for more money is exactly the same admd it was from 2008 so there is no excure and they have send me a letter Notifying me there is no ppi so there just out to rip of customers like myself both agreements paid so im not trying to avoid my debt just want to stop other people being ripped off

[Bill-K]

Re: some1 plz help

Hi Madmick and welcome to you. If the loan agreements are fully settled, then I doubt if you will be able to get the money you have paid refunded to you. Even if the agreements were found to be unenforceable, there is no enforcement necessary if the loans have been settled. In effect, the lenders are not going to demand any more money from you, so unenforceability is not an issue. The problem I think you might have would be convincing a court that you are entitled to a refund of all loan repayments and interest on a loan or loans that have been completely settled.

Looking at the figures in post #1, there are 59 repayments of £122.26, plus a final repayment of £321.26, and this adds up to a total of £7534.60. Deducting the £524.00 trade-in from this makes a Total Amount Payable (TAP) of £7010.60, and not £8058.60. If the £524.00 is ADDED to the £7534.60, then this comes to £8058.60.

If what you have actually repaid is the 60 repayments totalling £7534.60, then it appears that GE should refund you the £524 trade-in, which it seems should have been deducted from the TAP. If GE are asking for a FURTHER £524 (and thus a TAP of £8058.60), then that seems to be compounding the error. I think you have every right to get this aspect of the matter resolved, at least.

[Guest]

Re: some1 plz help

Yes what sometimes happens, is that the dealer will take the deposit and put it in his pocket then arrange credit for the whole amount.

Very naughty

If he is foolish enough to record this on the agreement, it would indeed make it unenforceable if it was issued before April 2007.
But as Bill says unenforceable does not mean that the debt is not due so you would not get a refund.

Although you could sue the dealer for the £250

D

D

[madmick]

Re: some1 plz help

Not according to my friend hes stating the debt wasnt true in the first intstance therefore should have been paid as it is a false agreement to be deemd nonexistant therefore all money paid refunded also 8 percent intrest also money from 1 agreement was added to another negative makeing the agreement figures wrong and amount wrong and if an agreements figures on a long is wrong it can be written off and claimed back under consumer credit act still two sections wer this is possible

[Guest]

Re: some1 plz help

:beagle:

[Bill-K]

Re: some1 plz help

Madmick - if your friend has successfully managed to do what s/he is saying that you should now do, then by all means follow his advice. We learn from each other here, and I would dearly love to see you pull this off - and learn how you did it. I'm sure I speak for others here, too.

BUT - from the considerable experience of peeps such as Davy B as imparted here - the theory is one thing, but the reality is another.

[Guest]

Re: some1 plz help

I think he is having us on Bill

D

[Bill-K]

Re: some1 plz help

Well....I guess this is all about 'Who blinks first" these days, so Madmick has his choice. We've each said our piece, and his friend has said his, also.

The choice is yours, Mick. That's as it should be.