GE Money warning

[Gubb]

I hope you get them back! I hope GE enjoys bad publicity - because it doesn't get much worse than this.

It will if we .........dum-dum-dum................TAKE IT INTERNATIONAL! *gasp*

[Macstar]

I have a loan with GE. I rang them to increase my repayments to reduce the loan completion date. I had to put my request in writing which is fair enough however the phone operator didn't have a piece of software that could tell me if I changed the repayments to $XXX per week that the loan would be settled in XX weeks?!

I was pretty bewildered by this i.e. what so-called finance company does not equip their staff with the most basic of finance programmes essential for client service? I ended up going to www.sorted.co.nz whilst on the phone to GE and getting all the data I needed to make the calculation myself i.e. total loan principle amount, interest rate, weekly repayment amount.

Agree these guys have a 'bunch of monkeys' - factor about them!

[The Pastor]

Every time ive rung ge money, they have declined me, im talking about a 3k loan. Even tho i earn over 400/week with about 100/week expensses ..............

It must of been my lucky day :d

finance companys are the crap, but ge is one of the worst ones.

Stick to the bank

[Maha]

Damn it - what a bunch of bastards! I hope you're up for fighting them about this.



If they can not provide you with a signed copy of the loan agreement in question, I am sure there must have been made an error somewhere. E.g. I can not imagine you authorising two transfers at $8129.xx and $3600 respectively just for the sheer hell of it...

I hope you get them back! I hope GE enjoys bad publicity - because it doesn't get much worse than this.

Correct Mikkel

The nutshell version is....GE made a fundamental mistake and wont admit it...not then, not now, not ever. I had been a customer of thiers for four years and never missed a payment.

I was fucken pissed when they told me three weeks later that ' three more payments had come out''...... ''I rang my bank and stopped that A/P''
I ring the bank again....''why the hell is thier still money going to GE even after I asked you to stop it''??
''We cant stop a D/D''......(thats open to dispute) so I closed the account!

[The Stranger:Me]

Every time ive rung ge money, they have declined me, im talking about a 3k loan. Even tho i earn over 400/week with about 100/week expensses ..............

Looks like they catch on pretty quick huh.

[Quasievil]

Anyone can always take them to the disputes tribunal, that should at least get some better communication going from GE side.
Corporates dont like the words tribunal, it is a major pain in the arse to them.

[Oakie]

Ring GE as obviously there has been a mistake made. No mistake Sir, you never rang for a settlement figure, our log does not show any record of you calling. This is a normal payment. The loan is paid up now until Nov 2009.

Exactly the same thing happened to my daughter. Went into the retail shop concerned, asked for and received the balance which was then paid off. About a year later she started getting overdue notes and the long and short was that they treated the bulk payment as a year's worth of payments in advance. She rang them a few times with no luck. The matter was then put in Dad's hands! I rang and eventually got a helpful and sympathetic young lady who after about 20 minutes of listening to my charm and logic put me on hold for few minutes while discussing it with her manager. She then came back and wiped the debt for me.

[Edbear]

I didnt read past this post...
Legally they cannot penalise you for early payments anymore. Its the law... Theres more to it as well, like I think that the extra $$ on top of your regular payments must go to the principal not the ineterest, but I may be worng...

MOM - I am going through the exact same thing. They have now put me in baycorp but I refuse to pay. I was lucky and rang them and got them to send me a statement that said I have a nil balance. However they seem to think I owe them $500. They can rot in hell as far as im concerned.
I learnt a huge lesson a awhile ago. If you cant pay cash, then you cant afford it...... And if you do have to get a loan, dont get it from GE!

Have you shown Baycorp that letter?

[Mom]

I paste here my final email to the Regional Manager of GE Money. All we wanted was the bike to be free of security as we are not in the habit of ripping people off. This email sent 3/7/08.


Dear Gert

When we met on Monday June 30th we came to a verbal agreement regarding settlement of Marks loan with your company. You asked for us to email you to remind you to give this matter your urgent attention Tuesday morning. We did. To date we have received NOTHING from you or GE confirming our conversation or the payment we made in settlement June 30th. We are very aware, as you no doubt are too, of our experiences dealing VERBALLY with your company.
Please urgently confirm settlement of Marks loan that was paid to 03 0175 0224604 00. The amount paid was $3609.75 as advised by you verbally on Monday June 30th. Please forward urgently a letter confirming that GE have no further security interest in Marks Triumph motorcycle.
How long does it take for you to do what you have told us you would?

Yours sincerely

Mark & Anne

And his response recieved on the 4/7/08

Dear Anne

The loan was settled and security was released.

Thankyou for the payment.

Gert


Nice and neat eh?

[Mom]

Exactly the same thing happened to my daughter. Went into the retail shop concerned, asked for and received the balance which was then paid off. About a year later she started getting overdue notes and the long and short was that they treated the bulk payment as a year's worth of payments in advance. She rang them a few times with no luck. The matter was then put in Dad's hands! I rang and eventually got a helpful and sympathetic young lady who after about 20 minutes of listening to my charm and logic put me on hold for few minutes while discussing it with her manager. She then came back and wiped the debt for me.

You dont have her name anymore by chance do you?...LOL

Wish they had come back to us with something the same, or even, we dont know how it happened but we have given you a wrong settlement figure, can we sort something out? NO, we are liars of the first order, we never rang them despite our phone records proving we did 3 times on one day, in about a half hour spread. Their record shows we only made one call. Read my first post, their log is their Bible, what it says happened, irrespective. We are liars!

[FROSTY:Me]

Shit Mom--why in heck diddn't ya call me. ARGGG b

[Str8 Jacket]

Have you shown Baycorp that letter?

Nah, they cant just cancel a debt. The compnay that lodged it has to cancel it with baycorp and that's not gonna happen in a hurry!

[Mom]

I didnt read past this post...
Legally they cannot penalise you for early payments anymore. Its the law... Theres more to it as well, like I think that the extra $$ on top of your regular payments must go to the principal not the ineterest, but I may be worng...

MOM - I am going through the exact same thing. They have now put me in baycorp but I refuse to pay. I was lucky and rang them and got them to send me a statement that said I have a nil balance. However they seem to think I owe them $500. They can rot in hell as far as im concerned.
I learnt a huge lesson a awhile ago. If you cant pay cash, then you cant afford it...... And if you do have to get a loan, dont get it from GE!

All you have to do is tell Baycorp the amount owed is in dispute, they will back right off! You have a nil balance statement from this finance company? Copy it and fire it back at them as you quietly tell them to get stuffed!

[Edbear]

Nah, they cant just cancel a debt. The compnay that lodged it has to cancel it with baycorp and that's not gonna happen in a hurry!

Mmmmm! I can think of two things - threaten them with the Disputes Tribunal and if needing finance anywhere else in future and they question your Baycorp listing, take that letter and show them.

Sucks, but, eh?

[Mom]

Nah, they cant just cancel a debt. The compnay that lodged it has to cancel it with baycorp and that's not gonna happen in a hurry!

This company needs to get a big rocket!

You have a statement from them showing you have a nil balance, you have a Baycorp entry from them against you. Baycorp have a legal responsibility, as does anyone that collects information to ensure the information is correct. Notify Baycorp their record is wrong, give them a copy of that letter to prove it. Give them 21 days to ammend their records. If they dont Privacy Commissioner is your next step.

I am happy to say I was, among with many others, instrumental in Baycorp having to keep its records clean, and NOT CHARGE people to get access to their records to ensure they are accurate!