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  • FIRST POST
    moofo
    Can I reclaim fees paid on a GMAC mortgage which I settled in 2007?
    • #1
    • 5th Dec 12, 2:15 PM
    Can I reclaim fees paid on a GMAC mortgage which I settled in 2007? 5th Dec 12 at 2:15 PM
    Hi all.
    Initially looking for some advice on whether I am eligible to reclaim fees on a mortgage I paid off in 2007.
    Is there a time limit and am I within that time limit?

    What can I claim back?
    Letter fees?
    Late payment charges?
    Exit fees?
    PPI ?
    Early redemption penalties?

    What charges are deemed unfair.
    I am also looking for template letters to try get back anything Im owed could someone post a link to these please.
    I understand a SAR request would be my first letter to find out exactly what i was charged?

    Final question.....the company I had the mortgage with was called GMAC.
    Are they still operating as I tried to contact them for an address for correspondence and the company that replied are calling themselves PARATUS AMC Limited.

    Did GMAC go bust or bought out and if so is this new company still liable for paying me out should I be entitled?

    Sorry for so many questions and many thanks in advance for any advice/info.
    New to comping March 2008 wins so far:
    Sweet Nothing.
Page 1
  • moofo
    • #2
    • 5th Dec 12, 2:51 PM
    • #2
    • 5th Dec 12, 2:51 PM
    I just read this article on GMAC



    so called Paratus AMC who must now be responsible for Gmac....
    A cheque for £91 is on its way for a 5 minute call which I guess is a start.
    When I asked about an exit fee refund he was vague and said I was charged a basic £155 and no exit fee applied?
    Was he pulling my leg?
    Last edited by moofo; 05-12-2012 at 2:53 PM.
    New to comping March 2008 wins so far:
    Sweet Nothing.
  • moofo
    • #3
    • 5th Dec 12, 2:54 PM
    • #3
    • 5th Dec 12, 2:54 PM
    http://www.moneysavingexpert.com/news/mortgages/2009/10/mass-refunds-due-for-thousands-of-gmac-mortgage-customers
    New to comping March 2008 wins so far:
    Sweet Nothing.
    • roonaldo
    • By roonaldo 5th Dec 12, 7:26 PM
    • 3,363 Posts
    • 1,597 Thanks
    roonaldo
    • #4
    • 5th Dec 12, 7:26 PM
    • #4
    • 5th Dec 12, 7:26 PM
    Probably not, complaints of some of those would be time barred now. PPI isnt anything to do with GMAC as GMAC used brokers for their sales.
  • moofo
    • #5
    • 5th Dec 12, 7:36 PM
    • #5
    • 5th Dec 12, 7:36 PM
    I thought you could go back 6 years possibly 12 years?
    Its is just about 5 1/2 years at present.
    New to comping March 2008 wins so far:
    Sweet Nothing.
    • roonaldo
    • By roonaldo 5th Dec 12, 8:54 PM
    • 3,363 Posts
    • 1,597 Thanks
    roonaldo
    • #6
    • 5th Dec 12, 8:54 PM
    • #6
    • 5th Dec 12, 8:54 PM
    I thought you could go back 6 years possibly 12 years?
    Its is just about 5 1/2 years at present.
    Originally posted by moofo
    you've raised 5 things. they all occured at different times. what was wrong with the early redemption penalty? no one forced you to pay off the mortgage and incur the charge.
  • moofo
    • #7
    • 6th Dec 12, 9:53 AM
    • #7
    • 6th Dec 12, 9:53 AM
    After reading the article I linked previously it mentions that GMAC overcharged on certain things and redemption penalties were one of them.
    No need to get arsey with me Im here looking for help not a telling off by someone.
    Clearly I pay my bills hence the mortgage was paid early!
    The only money issues I have are down to my ex partner who has burned my fingers to the bone!
    Think before you judge sunshine.
    New to comping March 2008 wins so far:
    Sweet Nothing.
  • moofo
    • #8
    • 6th Dec 12, 9:55 AM
    • #8
    • 6th Dec 12, 9:55 AM
    Compensation details

    There are three arrears fees for which GMAC will have to pay compensation, dating back to November 2004.
    Non-direct debit fees (usually charged when you pay by cheque or bank transfer to cover admin costs) levied on customers when they didn't make a payment (average refund £117).
    Early repayment charges (usually applied when you pay off a mortgage before the end of an introductory period) applied to the portion of the loan in arrears as well as the whole loan meaning customers paid twice (average refund £14).
    Part of the solicitor's instruction fee which was more than the actual cost (average refund £45).
    Save you clicking the link....
    New to comping March 2008 wins so far:
    Sweet Nothing.
  • _Andy_
    • #9
    • 6th Dec 12, 12:47 PM
    • #9
    • 6th Dec 12, 12:47 PM
    Being that you clearly know it all, why are you posting on here?
    • roonaldo
    • By roonaldo 7th Dec 12, 6:53 AM
    • 3,363 Posts
    • 1,597 Thanks
    roonaldo
    Who the hell are you calling sunshine? What the hell is your problem?

    You come in here asking for advice, I point out you are raising several sesperate issues. They cant be tainted with the same brush. If you dont like it ignore it, you dont have to be so rude.

    PPI is a sales issue, not GMAC's. Early redemption charge is not a failing by GMAC, the way to avoid paying it is not to pay off the mortgage in the tie in period.
    Exit fees, not refundable unless they are different to what was stated. You may have a point on the arrears fee's as they've been in trouble for that before.
    Last edited by roonaldo; 07-12-2012 at 7:02 AM.
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