Ge Money!?!?!?!?

wewillwin

Hi, hoping some one can help me.

I have a secured loan with GE Money.
I wrote to them asking why i have never recieved a statement, why my payments have not gone down since BoE has decreased and at its lowest ever.

I got back some snotty letter advising they are not a UK bank??? WHAT ARE THEY THEN????

My rate is linked to GE MONEY BASE RATE???? Whats that? I thought they everyone was linked to BoE??

That my rate HAS GONE UP!!!!!!! Due to cost of funds??? Can they not manage to get money cheap then?!?!?

And that they dont have to send statements?? I have to request them??

Can someone please help me....I cant see how they can say such stupid things....

I called them, what seemed like 2hrs! and was told that my rate was 12.95%,

my payments have increased from £355 to £405!!!! How is this fair?? Can anyone find out or tell me how much the government gave GE???

I was so annoyed with the idiot on the phone, who jst tild me to write in, i asked him did he get a xmas bonus and a party AND where??

He told me, yes he did (no doubt from the governmant bail out) and the xmas party was at WEMBLEY STADIUM?!!?!??!!? Oh the hell can they have aforded that!?!?!?!?

Im sorry for ranting but this really has annoyed me

who do i complain to and can anyone help me with my questions

Thanks x

Robert_Sterling_3

General Electric is a multi-national American Company.
The GE in GE-Money stands for General Electric.
GE-Money uses the Barclays Bank Base Rate as their Base Rate.
Thet told you over the telephone that the cost of funds had gone up.
How long did the call last that seemed to last 2 Hours?
Your payments have increased. Is this allowed for in the terms & Conditions of your loan.
I do not know if the government gave GE-Money any thing.
I hope that having a good rant on MSE has helped to calm you down.

ILW

GE have never had any money from the government as far as I know.
When you signed up you agreed to a variable rate. They did not say they would track BoE did they?