Argue fees & penalties with GE Money?

Kerryatter

We have just come to the end of a 5 year, secured loan (2nd mortgage) with GE Money. During this period we had huge financial problems (our business fell foul of the recession and then had 2 cases of redundancy - we also have 2 young children to raise) and so we fell into arrears a few times. At one point they tried to take us to court to repossess, but we sorted it out of court and agreed a payment plan, which we stuck to and eventually got rid of the arrears. Our last payment was in October and last week we got a letter from them saying that we still owe them £1492 and had 2 weeks to stump up :eek: Having looked at our statements I am shocked and appalled at the amount that they charge for penalties and fees - At one point they were charging us £30 EACH for a default notice they even want £150 in exit fees! Surely these costs are totally disproportionate to the costs incurred by GE Money? We also went back over the letters that we received when they were taking us to court and we can't make their figures add up - they stated that they are charging us £543.50 as 'legal fees' but on the court paperwork the charges stated were £75 solicitors costs and £300 for 'costs fee' - now I have never been any good at maths, but that doesnt amount to £543!
I have trawled the internet and I have found a couple of bits regarding reclaiming exit fees and old cases of people attempting to reclaim fees that have already been paid etc, but nothing about cases of arguing them before actually paying. Where do we stand? Can I argue them? How do I do it?

I'm slightly afraid as at the bottom of the letter demanding £1500, they stated that our home might be repossessed etc and that they'll add further interests and charges.Any advise would be greatly appreciated.

GMS

You should have received a leaflet/booklet or similar detailing charges associated with your mortgage, fees and tariffs or similary worded. This would show costs for being in arrears, duplicate statements etc.

Legal costs would be calculated at the time as these cannot be fully quantified until they happen.

Cross reference charges and question any discrepancies. Ask for a breakdown of legal costs.

Unfortunately your idea of excessive may well be within the terms and conditions of the contract you signed.