Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

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  1. #1
    Basic Account Holder Challenging Novitiate

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    Default Blemain - Who regulates them?

    We took out a secured loan in Feb 2006 with the dreaded Blemain Finance for £34,000. Following many sales calls over the next six months, we took out another for £5k as a unilateral charge. After years with Kensington and having accumulated extortionate arrears charges, we were finally offered a mortgageicon with a building Society and thought that there was light at the end of the tunnel. However, the new mortgageicon will allow us to pay off Kensington, the smaller loan which they want 7.5k to clear off, and the larger loan they now want £40k & 3.5k in collection costs. We have wrote and called them dozens of times and they just won’t reply with justification of the costs and to cap it all they have not agreed to a deed of postponement even though our new mortgage would clear the smaller loan and most of the large loan including the arrears and collection costs. We called them today and they even said that they wouldn’t agree even to the deed of postponement even if we cleared the arrears and paid them their costs upfront. We are now stuck with Kensington because of Blemain and can’t see any way out. We will still have 30k in equity after this so can’t understand why they are being so difficult. They even refused to speak to us and told us to stop calling. I have tried the FSA, Financial Ombudsmanicon, Trading Standards who have all referred us to the CAB. Why can they get away with wrecking people’s lives – how do they sleep at night? Can anyone give advice before we see the CAB?

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  2. #2
    Basic Account Holder groovycaz Novitiate

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    Default Re: Blemain - Who regulates them?

    Hi Challenging
    they are regulated by FISA but only it you took out your laon after they came under their remit in early 2007 (not sure of the date) any time before then you will find like others on this site with complaints against Blemain that there seems nowhere to turn, except maybe if your loan was sold by a broker who did not explain it to you correctly, it will be covered by the consumer crediticon act of 1977, does it state anything about early redemption charges? thats what they robbed me on, If your laon was sold by a broker, which is more than likely then its them you go after if theres anything missing from your paperwork, and knowing BF there will be.. Best of luck..GC


  3. #3
    Basic Account Holder dinozoff Novitiate

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    Default Re: Blemain - Who regulates them?

    There maybe a way of making a complaint to the Fin Ombudsmanicon (FO) regarding Blemain Finance

    I am a CAB Debt worker. Our clients came to us regarding a charge of Buildings Insurance in their redemption figures. Clients already have buildings cover with their mortgageicon providers. After speaking to the FO they informed us that BF are not regulated to sell insurance. We believe that BF will refer us to Ocean Finance who acted as the broker in this deal and miss sold the insurance to our clients. Ocean Finance do come under the remit of the FO and we then can make a complaint to the FO.

    Will let you know the result of our complaint which may take upto 3 months.

    Hope this helps some of you


  4. #4
    Basic Account Holder magiciansgirl Novitiate

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    Default Re: Blemain - Who regulates them?

    Just wondered if there is any news on this re the buildings insurance? Blemain have refused to refund me two previous years premiums even though I had buildings insurance. I cannot get the broker to reply to my SARicon either so am wondering if the FO is the way to go. Or perhaps the ICOicon...

    Kind regards, MG


  5. #5
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    Default Re: Blemain - Who regulates them?

    Information Commissioners Office https://www.ico.gov.uk/Global/contact_us.aspx is the way to go in regards to them failing to provide the SARicon. The ICO can take enforcement action & fine them £5000.


  6. #6
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    Default Re: Blemain - Who regulates them?

    Or you could issue a letter before actionicon and then slap them in court yourself and you will be awarded compensation.

    Have a look at these - http://www.consumeractiongroup.co.uk...ath-loans.html

    http://www.consumeractiongroup.co.uk...yds-tsb-3.html


  7. #7
    Basic Account Holder magiciansgirl Novitiate

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    Default Re: Blemain - Who regulates them?

    Just to say there is a thread about submitting first person accounts of Sub Prime mortgageicon outrages to the Treasury Committee started by enoughisenough. I don't know how to send the link but if you Search you should find it. Will be submitting about Blemain


  8. #8
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    Default Re: Blemain - Who regulates them?

    I don't know how to send the link but if you Search you should find it. Will be submitting about Blemain
    If you want to create a link to another post just copy & paste the URL of the post you want to link to back here.


  9. #9
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    Default Re: Blemain - Who regulates them?


  10. #10
    Basic Account Holder supersleuth Informative supersleuth Informative supersleuth Informative

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    Default Re: Blemain - Who regulates them?

    Challenging,

    Can't say for sure who regulates the lender BUT.....

    You might be interested to know that your Blemain loan agreements are REGULATED CONSUMER CONTRACTS under the consumer crediticon Acts 1974 and 2006. Therefore you have extensive statutory protection from those two Acts.

    The Office of Fair Trading is the regulator in charge of any credit agreement that falls under those acts.

    When you entered into the contract for £34K, the contract would have fallen outside the OFT's regulation of the loan BUT since April 2008, the 25K limit was lifted so now, your contracts falls within the scope of the OFT's regulatory purview.

    See e.g. the explanatory notes in the CCA 2006

    Section 2: Removal of financial limits etc.
    16. Section 2 removes the financial limit for the regulation of consumer credit and consumer hire agreements under the 1974 Act. The 1974 Act currently applies only to agreements where credit provided or the hire payments to be made do not exceed £25,000. In future, all consumer credit and consumer hire agreements will be regulated by the 1974 Act unless specifically exempted, regardless of the amount of the credit or the amount of the hire payments. Section 2(3) extends the application of the provisions regulating credit advertisements to advertisements offering credit regardless of the sum involved, and regardless of whether the creditor requires security.


    The "specific" exemptions are set out at s.16 of the CCA 1974. Unless the lender falls within the s.16 exemption, your contract is regulated under these acts. It is unlikely that a mob like Blemain will have a s.16 exemption. The exemption are for institutions such as holding a banking licence, building societies and local authorities.

    Also see s.2 of the CCA 2006 which changes the CCA s.8 definition of "consumer credit agreement" .

    Also, check out the "unfair relationships" provisions of the CCA 2006 and also check out the s.13 and s.17 (I believe) which prohibit lenders from charging compound interesticon on default sums.

    Recommend: getting in touch with the OFT and learning about the CCA Acts. You have got a lot of good law to protect you from their conduct but you have to use and assert those protection.

    Use this site to read the Acts: Home - Statute Law Database

    ...and know your rightsicon...

    Good luck


  11. #11
    Basic Account Holder Challenging Novitiate

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    Default Re: Blemain - Who regulates them?

    Thanks Supersleuth. Things have moved on since I started this thread in 2007. The house was repossessed by Kensington and sold for loads below value in April 2008 (220k and sold for 163k). Kensington then charged us about 8-10k selling fees, legal costs, asset fees, then also charged us an extra 25k on top of the original mortgageicon (we had paid about 50k the previous 4 1/2 years). They then sent a surplus of 26k to Blemain as second charge. Blemain contacted us months after and following several requests they have still not provided us with a balance (it changes every time and they deliberately will not provide us with a true debit and credit account. They were still requesting a significant amount of money as owing even though technically the shortfall should really be about 5k following the 26k reduction and previous payments. Anyway, it's not all doom and gloom as life is much better and 5 months ago we sent the agreements and all documentation to a company that employ forensic accountants. Both Kensington and Blemain's agreements have irregularities and we are now awiting a call from solicitors regarding litigation. Now that we are free of the professional thieves, we can take them on.


  12. #12
    Basic Account Holder supersleuth Informative supersleuth Informative supersleuth Informative

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    Default Re: Blemain - Who regulates them?

    Hi Challenging,

    Keep on challenging...going forward, the change in the CCA will still be able to help you.

    As you've discovered, being repossessed is only the start of the thievery. Just when you think you've lost everything, they manufacture even greater loss which they call "your debt". The blank cheque they write themselves in so called legal fees etc. Happy that you've got legal help with this. I may know your of your forensic accounts and the solicitors. If they're who I think they are, then you're in good hands.


  13. #13
    Basic Account Holder magiciansgirl Novitiate

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    Default Re: Blemain - Who regulates them?

    So sorry you lost your house, but what an interesting report. I have often thought that forensic accountants would find much to interesticon them in Blemain's books. Do let us know the outcome.


  14. #14
    Basic Account Holder supersleuth Informative supersleuth Informative supersleuth Informative

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    Default Re: Blemain - Who regulates them?

    Oh and one more thought. Did you check your old title number. Often there's a ruse where they sell for under value, and then in a matter of a few months, it gets sold on again at a more realistic price. Check the history of your title number at the Land Registry from the date when you were repossessed through to the current date.

    That ruse is used to increase the shortfall that they can chase you for, thus keeping you in hock to them and keeping the compounding interesticon going. Did you know that the latin words from which the word "mortgageicon" derives is translated as "death-grip". Really is, don't your think


  15. #15
    Basic Account Holder janetsflower Novitiate

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    Default Re: Blemain - Who regulates them?

    Can anybody suggest where we turn for help with Blemain. We took out 4 loans with them through a broker. The repayments became extortionate beyond belief and we solf one of the properties. They charged us £3000 just to provide a settlement figure to our solicitor. They've charged us for insurance when we have our own and they stick masses of fees on the remaining accounts every month. They are crippling us and we need to get out but thanks to them we have terrible credit record. They refuse to provide us with statements and I cant see any light at the end of the tunnel. Desparately need some help, can anyone recommend somebody? Needless to say we dont have loads of spare cash around to stump up front either but happy to let anyone who can help us have what they can recover from these sharks


  16. #16
    Basic Account Holder magiciansgirl Novitiate

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    Default Re: Blemain - Who regulates them?

    Oh no, Blemain again.

    I would start your own thread on this as there are quite a few of us who can offer advice in dealing with them.

    They are in breach of the consumer crediticon Act by not sending you an annual statement and they have been legally obliged to since April 2008.

    I can tell you now that on their Tariff of Charges they state £55 to calculate and send settlement figures to your solicitor so the most you should have paid for all four loans is £220. I would challenge this immediately via the complaint form on their website.

    I have also had the insurance [problem] pulled on me and have now got them to agree to drop it, but they are refusing to refund previous premiums and I will take them to court about this after I have redeemed the loan.

    I would also send a Subject access requesticon (SARicon) to the broker to find out if they received any extra commission for putting you with Blemain. templatesicon on this site. Good luck! MG


  17. #17
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    Default Re: Blemain - Who regulates them?

    You could try a SARicon, http://www.consumerforums.com/resour...est-debt-a-dca they have 40 days to provide you with the information which should include agreements, statements copies of letters. If they fail to provide it make a complaint to the ICOicon & send them the letter in post #6


  18. #18
    Basic Account Holder groovycaz Novitiate

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    Default Re: Blemain - Who regulates them?

    http://www.mcsforintroducers.com/pdfs/customer1.pdf

    Found this while digging around on google....makes interesting reading..Fc


  19. #19
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    Default Re: Blemain - Who regulates them?

    Anything changed since this thread started?


  20. #20
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    Default Re: Blemain - Who regulates them?

    bump



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