Secured loan charges

shellbo10

Hi can someone give me some advice pls.
I had a secured loan from GE money £48250.00 in April2006,I paid it off in Feb 2007 through a remortgage £49944.62 I had paid 10 months at £465.01.I also paid £39572.62 to my outstanding mortgage to GMAC my outstanding balnce was £39863.49 on 30/03/2006.The GMAc motgage was cleared on Feb2007 also
Can I claim any of the interest and fees back from either of these companies?i have been looking at some of the interest thatI have paid off and the fees seem extotionate.At the time I was pretty desperate to clear my outstanding debts of and the broker who arranged it for me at the time just said thats the fee that they are charging and the interest is correct.
Any help would be good sorry if I am in the wrong post didn't have PPI

[Deleted User]

5 years later and you are only NOW questioning the cost of borrowing what were quite large sums of money
did you read the T&Cs at the time,or just rely on a broker who was probably getting comission?

Apples2

Are you hoping to unearth some kind of ruling which prevents lenders charging over, say 8%.

If you have ever obtained a loan with higher interest you can claim it all back again?

Sounds crazy when it is worded like that but it is essentially the same question.

opinions4u

In 2006 I bought some shoe polish in Tesco.

Yesterday I noticed it was on buy one get one free and I now think that I have been ripped off by a SCAM!

Can I reclaim the cost of the 2006 shoe polish, or can I apply to somebody to get the whole cost of my 2006 shopping bills written off? I haven't retained the receipts but know that my Clubcard records will identify the amounts involved.

(OP: You really are pushing the boundaries of reasonability here. You took the loan at the going rate for somebody in your circumstances. You haven't given any indication as to why it was an inappropriate loan for those circumstances. I'd hazard a guess that the loan massively reduced your outgoings as you state "At the time I was pretty desperate to clear my outstanding debts". So how much interest did this loan save you? And if you complain, and the powers that be agree that you should be put back in to the position that you would have been in without this loan, are you happy to pay all the extra interest that you would have been charged had this secured loan not gone ahead?)

CH27

shellbo10 wrote: »

Hi can someone give me some advice pls.
I had a secured loan from GE money £48250.00 in April2006,I paid it off in Feb 2007 through a remortgage £49944.62 I had paid 10 months at £465.01.I also paid £39572.62 to my outstanding mortgage to GMAC my outstanding balnce was £39863.49 on 30/03/2006.The GMAc motgage was cleared on Feb2007 also
Can I claim any of the interest and fees back from either of these companies?i have been looking at some of the interest thatI have paid off and the fees seem extotionate.At the time I was pretty desperate to clear my outstanding debts of and the broker who arranged it for me at the time just said thats the fee that they are charging and the interest is correct.
Any help would be good sorry if I am in the wrong post didn't have PPI

You accepted the loan & you accepted the tems & conditions of the loan.
Nobody forced you to take the accept the T&Cs.

shellbo10

I was only asking for help,not a barrage of abuse, I don't deserve to be in that position again.
My husband died and I was alone with two kids ,he had no life insurance,which I was unaware of.

Apples2

You asked for advice not sympathy.

The responses you have received are factual and accurate.

shellbo10

Apples2You asked for advice not sympathy.

The responses you have received are factual and accurateApples2You asked for advice not sympathy.

The responses you have received are factual and accurateApples2You asked for advice not sympathy.

The responses you have received are factual and accurateYou asked for advice not sympathy.

The responses you have received are factual and accurate
In 2006 I bought some shoe polish in Tesco.

Yesterday I noticed it was on buy one get one free and I now think that I have been ripped off by a SCAM!

Can I reclaim the cost of the 2006 shoe polish, or can I apply to somebody to get the whole cost of my 2006 shopping bills written off? I haven't retained the receipts but know that my Clubcard records will identify the amounts involved.

(OP: You really are pushing the boundaries of reasonability here. You took the loan at the going rate for somebody in your circumstances. You haven't given any indication as to why it was an inappropriate loan for those circumstances. I'd hazard a guess that the loan massively reduced your outgoings as you state "At the time I was pretty desperate to clear my outstanding debts". So how much interest did this loan save you? And if you complain, and the powers that be agree that you should be put back in to the position that you would have been in without this loan, are you happy to pay all the extra interest that you would have been charged had this secured loan not gone ahead?)
I asked for advice ,yes I agree not sarcasm as in the posts replying to my email.