How understanding are GE Money

GirlRacer_2

Hi Guys, need some information please. My sister is currently on a DMP with CCCS (Thanks CCCS, you've been amazing!). She was ina arrears with a secured loan that she had with GE Money and they have arranged to take an additional £67 per month off her to clear the arrears. Quite frankly this is crippling her and I wondered if anyone had any ideas.

I've e-mailed GE Money through their secure website and asked if there is any way that she can either add the arrears onto the balance of the loan and go back to paying her original amount or have the loan over a longer period of time and thus reducing the monthly payments. I understand that neither of these scenarios are ideal but I've been looking at her finances and she really needs to get something done quite soon.

She also missed a payment with the halifax on her mortgage :mad: and she's also been paying them back and extra £61 per month, I've been in touch with the Halifax today and there is only October and November to go at this increased rate and she's back to her normal payment from 1.12.08.

As some of you may be aware, I've been on the debt free journey myself over the last few years and because debt free earlier this year, Howver, all my debts were small in comparison to my sisters and I managed to dig myself out of the small hole I was in.

All comments/advice would be greatly received.

Tigert

I have mixed feelings about GE Money. Whilst I was setting up my DMP they really were a pain, constant threatening letters and phone calls. However after 3 months of DMP payments, they accepted my DMP then immediately passed me onto a DCA (CL Finance) who have been excellent so far.

Not sure they would be the same though on a secured loan as all mine were unsecured. But my experience is that they make a lot of noise, but didn't actually go through with anything.

mrs_boop

i am with ge for my mortgage they've been great if your in mortgage arrears you get 16 months to spread the debt over

hope this has been of help

phone them dead friendly and helpful

GirlRacer_2

THanks guys. She had an unsecured loan with GE also and they were fabulous, although they did pass the debt onto CL Finance and they have also been great.

I've e-mailed GE Money about the secured loan and I'll wait and see what they come back with. To be honest with you I seem to be constantly 'sorting' my sister out only to find her back in the same boat a few months down the line. The only good thing this time is that she's on a DMP and no financial institution will toucher her with a bargepole so there's no chance of her running up more debt.

Saying that, she didn't initially tell me she was paying extra each month to GE and Halifax because of arrears. I think I'll sit tight and wait for a reply from the e-mail before I encourage her to phone them. I just wanted to see if anyone else had any experience of dealing with them.