hi all

took out a loan with Blemain on 25/09/07 ,is due to finish 25/09/2017

£11k loan ,interest charge £11,316.77 plus brokers fee £1375 and acceptance fee £310

all together £24,001,77

agreement states 120 monthly payments of £200.02 interest rate 14.40% variable

totals £24,002,40

have never missed a monthly payment ,

only receive a yearly statement ,

going on their calculations there will be a shortfall of at least £5,000

,have received the occasional letter that they will charge the account for not issueing them with a copy of buildings insurance straight away,

admin fee is always £30.00

and insurance charge is a contingency one ,

which they never say the cost and does NOT appear on the yearly statement,

all that appears on the yearly statement is interest charge 14.40% ,

They do however state they charge interest on what they consider to be late charges ,insurance charge being one of them ,mmmmmmmmmm £5,000 of extra charges over the loan period, me thinks they make rules up as they go along

so in short guys

last payment this month ,

there will be at least a £5,000 shortfall ,

so what do i do,

the debits should stop anyway

,but they will contact me about the ridiculous shortfall ,

who do i contact about this ,am getting in a right state about this

kindest regards

Robert

update by myself the monthly payments of £200.02 were calculated at 19.9% over 10 years ,it would appear the 14.40% interest charge is in addition to the original ie: making it a whopping 34.3 % in total,surely illegal ,how on earth do they get away with it

Have had similar problem with another company in the same group. There a nasty company and you will need a firm of solicitors willing to take them on. Be aware they play dirty and I have had to change my solicitors twice. If you want any assistance or compare notes then I will try and assist but my hands are quite tied at the moment as my case is subject to appeal.

Can you post a copy of the agreement taking off your personal details. They tried a similar trick with me but after notification by my barrister the claim was dropped prior to trial.

Get reclaiming!!

Did you already have buildings ins with another lender

All the fees can be reclaimed and all the fake insurances

Sar them

you need a clear and understandable breakdown of your account that includes all penalties, charges and add-ons, If they are saying you owe money they need to prove it

Blemain / Together is a nasty rip off company that are so embarrassed they have had to change their name to enable them to continue ripping people off.