Susan
United States of America#2Consumer Comment
Sat, August 20, 2011
I agree with the above posters, I know when I am on the hook with a finance company, I understand that it is my responsibility to coordinate and ensure that the payments are made, whether it is from me or from an insurance company on my behalf. I definitely would have followed up within a day or two of a check being sent that it was received, credited, and that there was no balance due on the account.
Most times I have had anything like this happen, there has actually been a credit on the account. I also would keep good track of that and make sure my money was on its way to me.
Look at it from GE's side - they have no idea that a check from another party is coming, and they don't know it's going to be a payoff, etc. When the check does not arrive, of course they don't think anything of it except that you have not mailed in your payment. Then you apparently ignore all requests from them for payment, figuring it's not your responsibility - which it IS! And now you have late fees.
Take control of your finances and never assume another entity is going to take care of your bills. Verify!
I had a great experience with GE Money and was grateful they would finance a building for me. I paid monthly until I sent a large lump sum to pay them off - thus losing them interest I suppose! But everything was perfect.
coast
USA#3Consumer Comment
Sat, July 02, 2011
Even if the screen shot was proof (which it isn't) that the check was mailed, your claim that GEMB received and conspired to withhold posting payment it is unsubstantiated.
The odds favor that the company owing the money is holding out more than the recipient. Insurance companies frequently take their time paying claims.
Steven
Jacksonville,#4Consumer Comment
Sat, July 02, 2011
Okay let's see. You financed a motorcycle with GE. What was the principal on the loan? What was blue book (or equivalent value) of the motor cycle at the time it was stolen?
If you owed more on the motorcyle than it was worth then you still owe the balance of the loan just as you would if it was a car that was stolen. Did you have any form of GAP insurance to make up the difference?
Robert
Irvine,#5Consumer Comment
Sat, July 02, 2011
That fine that your mind is made up but it is very possible that your mind is wrong and you are just causing yourself more issues. With your latest "update" this seems to be more and more of a possibility.
They received the check but refused to cash it,
- So according to you they are so upset that they are going to loose out on the interest that someone at GE has made it their personal mission to intentionally keep the check in some drawer and to not cash it. Not only that but in doing that they are willing to break the law, yes it is against the law to receive a payment and intentionally NOT apply it to the account in a timely manner. If you want proof just go look up the Fair Credit Billing Act.
and yes there was a balance due, but they are trying to tack on fees and interest to that too
- Okay here you definately loose on some parts, regardless if the check was cut, mailed, sent, received..what ever. IF there is a balance due you are still responsible to pay that off. Until it is paid off YOU are required to continue to make your scheduled monthly payments. So you should have still made the required payment. Because of this any late fees are 100% on you.
If you are GE's side, then why are you even looking at my report, or on this website for that matter?
- Personally I am not on either side. But when you make what appear to be outragous claims such as they are so upset about the interest that they are loosing that they intentionally did not cash the check you can expect people to comment on that since this is a PUBLIC web site.
mdawson_10
Mesquite,#6Author of original report
Sat, July 02, 2011
Like I said, I received PROOF that a check was cut and mailed. None of you have seen what I have, so don't say it isn't proof if you don't know. You sound just like them!!! They received the check but refused to cash it, and yes there was a balance due, but they are trying to tack on fees and interest to that too. No late payments, no missed payments, no nothing, just excuses to charge us interest on a payment they already had. If you are GE's side, then why are you even looking at my report, or on this website for that matter?
Robert
Irvine,#7Consumer Comment
Thu, June 30, 2011
A "Screen Shot" is not proof that a check was mailed. Sure it "says" it was mailed but what proof do you have that it actually was? Sure it "says" that it was for your bike, but what proof do you have that that information was on the check.
Have you asked your Insurance company to do anything other send you a "screen shot". Have you asked them to trace the check to see if it was in fact cashed? How about sending you a copy of the canceled check?
It may very well be that GE Money screwed up and posted the check to the wrong account. But until the Insurance company can show you the canceled check it is just as likely that they either never got it or it was never mailed.
It may also be a case where the Insurance check did NOT cover the loan balance, and you in fact still do owe money.
Cory
San Antonio,#8Consumer Comment
Thu, June 30, 2011
I always find it interesting that when something happens to a vehicle, either a car or motorcycle and the insurance company is "on the hook" for the remaining balance, people THINK it absolves them of all resposibility, like in this case. Why would they call you? Did you notify them that the bike had been stolen? As far as they were concern, they were just waiting for the next payment. Once it wasn't made, you were late. WHY did your insurance company have to cancel the check and re-issue, overnite it to GE? I suspect your insurance company bears partial responsibility for this mess. If they'd overnighted a check to begin with, the problem wouldn't have arisen. As for the "HUGE MISTAKE". What problems did you have with GE prior to the theft of the motorcycle? I've used GE on several occasions and have had no problems. HSBC on the other hand sucks to high heaven.
mdawson_10
Mesquite,#9Author of original report
Thu, June 30, 2011
Coast, while I appreciate your response, the form I was sent by my insurance company IS proof and states that it was mailed on May 6th. Funny how GE says the same thing, that it wasn't proof, but didn't even view the form. I highly doubt my insurance company would falsify such a detailed financial log report for no reason whatsoever. GE on the other hand has $$ to lose by admitting they are wrong so god forbid!
mr rik
miami,#10Consumer Comment
Thu, June 30, 2011
Don't pay em SQUAT.
They need to get their act together.
Most likely your check got lost on it's way to india. Not your fault.
coast
USA#11Consumer Comment
Thu, June 30, 2011
That is not proof that the check was mailed.
mdawson_10
Mesquite,#12Author of original report
Wed, June 29, 2011
My proof that the check was cut and sent was based from an email that my insurance company sent to me. It was a financial log payment screen shot that I requested be sent to me when GE Moneybank started calling my house stating they hadn't received the check. It had a check number, the date the check was cut, the date it was mailed, a reference number, the bank it was coming from, the amount, the name of who created the check, the account number, the VIN number of the motorcycle, our claim number, etc etc etc.
coast
USA#13Consumer Comment
Tue, June 28, 2011
"they emailed me PROOF that the check was cut and sent"
What proof did they send you that the check was sent?