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About davidst01

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  1. I've held a secured loan with Blemain for around 5/6 years and had a few hiccups along the path. I'm on my second arrangement and two months into that I couldn't make the payment. I'm self-employed and have one client who is always on their last legs and late in paying me. In cases where I have to buy things for them, I have to insist they prepay, but they have a monthly standing and I recently did some work for them. The net result is they owe me £950 which should have been received by 12th April, but from what they tell me they won't be in a position to pay this until early next month. I have a monthly payment of £595 to Blemain on the 21st (today) and had been speaking to my problem client up until late on Friday to see if they could even pay parts of my invoices - enough to cover Blemain. I tried to call Blemain to explain the situation on Saturday when they are normally open 10am to 4pm only to find they were closed for all the Easter Holidays. By the time they reopen tomorrow the loan will automatically have defaulted and presumably they will give me 3 weeks from today to clear all the arrears which would be impossible. The problem is when they make a payment arrangement they request 75% of your disposable income to cover the arrears, which is manageable if you are on a set salary, but far more difficult if you are on self-employed and your clientbase contains of a couple of ********s. Any advice on how to tackle this? Thanks, Dave
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