GMAC switching to New Name

[jumper999]

I have received a letter today from my mortgage provider/company GMAC who have advised me that they have now changed their name to Paratus AMC Limited.

Has anyone else had a letter like this and I have not seen any news about this anywhere that GMAC have changed their name?

[moatmeister]

Re: GMAC switching to New Name

Yes I have one dated 31/01/11. My mortgage running from 2004 with perfect payment history.

[ed.]

Re: GMAC switching to New Name

GMAC no longer media friendly? lol

[jumper999]

Re: GMAC switching to New Name

Thanks MM & ED,...........does that mean just the name of GMAC has changed and not the agreements? I assume this does not make any difference to us customers apart from having to change direct debit details?

[Amethyst]

Re: GMAC switching to New Name

Paratus AMC Limited is authorised and regulated by the Financial Services Authority. The information provided on this Website is for the use by people who are resident and ordinarily resident in the United Kingdom only. To help us improve our service, we may record or monitor phone calls. Paratus AMC Limited, No.5 Arlington Square, Bracknell, RG12 1WA. Registered in England with Company No. 3489004

Home - Paratus AMC


One other person has posted about it (unless thats you too lol) Mortgage Provider GMAC have changed their name!!

[moatmeister]

Re: GMAC switching to New Name

A quick check on the companies house website reveals that they havnt changed their name, but are in fact two separate companies. Why would you change your name ayway?? And to something so catchy! Something fishy going on here no doubt!!

[stevokenevo]

Re: GMAC switching to New Name

the GM part of GMAC is general motors, the car company which took a double hit at the peak of the recession, as 2nd tier lenders they carried a load of toxic debts and with the slump in the automotive industry revenues were slashed.
This is probably just a part of reorganisiation, and might be a good sign that you have been shifted to a profit making wing of the organisiation. (obviously if you guys pay on time regularly then they profit from it lol)

I wouldnt worry about it