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    • Hi I'm looking for a bit of help to deal with a claim form from Hoist/ Cohen referencing an old Capital One account please. I have filled out the details below as requested and submitted an acknowledgement of service intending to defend.   In 2007 I sent a SAR and requested a copy of the original CCA from Cap One on this account.    In 2014 Lowells sent a claim form for the same account. I have a copy of a notice of allocation to the small claims track hearing and a copy of the front sheet of ack of service with intent to defend but I have no recollection of its outcome and there are no CCJs on my credit file.    Name of the Claimant Hoist Finance UK Holdings 2 Ltd   Date of issue – 5/11/2019   Date of issue 05/11/19 + 19 days = 24/11/2019 + 14 days to submit defence = 7/12/2019 (33 days in total)   Particulars of Claim This claim is for the sum of £294 arising from the Defendants breach of a regulated consumer credit agreement referenced Under no XXXXX. The defendant has failed to remedy the breach in accordance with a default notice issued pursuant to ss. 87(1) and 88 of the Consumer Credit Act 1974. The Claimant claims the sums due from the Defendant following the legal assignment of the agreement from Hoist Portfolio Holding 2 Ltd (EX CAPITAL ONE). Written notice of the assignment has been given. The Claimant claims 1. The sum of 294  2. Costs   What is the total value of the claim? £369   Have you received prior notice of a claim being issued pursuant to paragraph 3 of the PAPDC I received a letter of claim & income / exp forms.   Have you changed your address since the time at which the debt referred to in the claim was allegedly incurred? yes   Did you inform the claimant of your change of address? Not sure claim is for Credit card   When did you enter into the original agreement 2003   Do you recall how you entered into the agreement not sure   Is the debt showing on your credit reference files yes, as closed   Has the claim been issued by the original creditor. Assigned   Were you aware the account had been assigned – did you receive a Notice of Assignment?  from HPH2 to HFUKH2L, I don't have anything from Cap One.   Did you receive a Default Notice from the original creditor? Yes (2007) Have you been receiving statutory notices headed “Notice of Sums in Arrears” or " Notice of Arrears "– at least once a year ? Not sure, I’ve had letters from Robinson Way.   Why did you cease payments? illness and inability to deal with my debts, I had no money no job and my mental health was in a terrible state.   date of your last payment? 07/2014 paid to Robinson Way   Was there a dispute with the original creditor that remains unresolved? No (PPI and bank charges refunded)   Did you communicate any financial problems to the original creditor and make any attempt to enter into a debt management plan? Yes   Do I send a CPR 31.14 next asking for the agreement, notice of assignment and the Default notice?   Thanks.
    • It states the charge as: 'did enter a compulsory ticket area without having with you a valid ticket. Contrary to Byelaw 17 (1) of the Transport for London Railway Bylaws Made under paragraph 26 of Schedule 11 to the Greater London Authority Act 1999 and confirmed under section 67 of the Transport Act 1962.' Then a brief statement of facts that the pass did not belong to me, and that I had stated it was due to financial reasons. It then contains information about making my plea and then the statement of the revenue officer. I am of course planning on pleading guilty before the cut off point and attending court (I'm hoping to be well enough to attend anyway). I'm just concerned about the consequences and if there is any point in trying to still reason with TfL now that court application costs are at least involved. I have debated getting a solicitor solely because of what I've read on the internet and what it says about ruined job prospects, I know it's probably scare tactics to get me to hire someone but it is the driving fear behind everything at the moment. 
    • You really MUST respond to the Singe Justice Procedure (SJP) notice and do so BEFORE the 'cut off' date.   Clearly, you will need to plead guilty and by doing so, you will benefit from having a one third discount in the amount of the fine issued.   You do not....I repeat NOT need to enlist the help of a solicitor and by pleading guilty, you will NOT be required to attend a hearing.   what exactly is stated on the charge sheet.    
    • I suspect the judge is giving you the opportunity to change [should your wish] anything in your initial defence now that the claimant has played their hand. it doesn't say witness statement but formal defence.   dx  
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dax

Blemain finance

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Has anyone heard of or had dealings with Blemain finance company? Would be interested to know of your experience with them as mine was that they were complete sharks:!:

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yep,

 

They threatened to reposes our house for 3 missed payments and were not prepared to comprimise I told them that they were unlikly to get satisfction and if they were going ahead any way I would cancel any further payments until the court ruled on the situation (thats a bit like only half hitting a wasp). They were hell bent on reposession and that of course is where they make some serious money.We managed to pay the arrears (& costs) and so the loan continues.

 

Their set up charges were astronomical and they (obviously) want all the redemption fees paid on early settlement (which theyve forced).

 

what they do is lend money to people who are in a sticky situation and name their own price (as beggers cant be choosers) on the costs then they hover in the wings waiting for a trip and pounce.

 

I intend to pay them off asap and then have a long hard think (for about a nano second) about wheather its worth pusuing them for some or more of the charges.

 

They are unlikly to roll over and pay as quickly (or at all) as the banks as they are probably only one step up the food chain from the sharks.

 

Apart from the above weve had no problems with them and would thoroughly reccommend them to any body who is up against the wall and needs finance and cant manage to get made bankrupt instead!


'I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.'

Thomas Jefferson 1802

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I am so glad someone else knows this firm of parasites and nothing would give me more pleasure than doing them up, like they done me up...They used to laugh down the phone at me..jeering...." you know we could take your house of you dont you and see you on the street", it was unbelievable in heinsight, but I didnt know ant better at the time and was a desperate and worried struggling single parent. Their interest rate was like 29% I think. Somewhere ive still got their file and intend to go over it with a nit comb. I ended up repaying them £53.000 and in fact, sold my property to remove myself from their grip. Talk about stress.......'evil'

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I was looking on the FSA Financial services authority website, to trace Blemain finance tonight and although their name never became acknowledged as registered as listed with them. When I went to the section for companies and mortgage lenders they have investigated, lo and behold, 'Blemain finance' were there. I have pasted the article here.

 

Mortgage early repayment charges

 

Blemain Finance is an Appointed Representative of

Cheshire Mortgage Corporation Limited. A term in one of

its residential mortgage deeds enabled Blemain to use a

method called the 'Rule of 78' to calculate a

consumer's early repayment charge.

We viewed this as unfair because it could result in the

consumer paying a charge much higher than would

reasonably compensate the firm for charges lost through

early repayment.

In this case the firm agreed to stop calculating early

repayment charges using the 'Rule of 78' method.

Close Window

 

I am going to check my old file to see if they used this rule with me, which I presume they did.

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Incidently,

the Cheshire Mortgage company are listed numerously for various reasons for review.

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My parents had a loan with Blemain and their redemption figure was calculated using 'rule 78'.

 

Does anyone think this is something you could challenge?


HSBC - Owed £1315, settled at £1150 - 08/06

First National Tricity Fiance - Owed - not sure ? DPL sent 20/09/06

Alliance & Leicester - Owed £595 - Moneyclaim started 20/09/06

HSBC for Dad - Owed £1500 - Moneyclaim started 20/09/06

Capital One - Owed £495, Settlement Rejected £195, LBA sent 12/09/06

Barclays for Dad - Owed £3200, LBA sent 12/09/06

SPML & Blemain Finance for Mum & Dad - Awaiting Statements could be huge !

 

 

Failure is not an option ! - NASA

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I think that if the FSA found it to be an unjustified rule in use, for whatever reason it represents, then it must have been a tool they used to rob the gullible, in which case, it's probably possible to raise it as an issue and be reimbursed. I intend to raise issues with them, in the hope of getting money back.

 

 

I hate Blemain Finance.........

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Maybe I'll try complaining directly to the FSA?, we've sent off for data protection statements, etc today to see how bad the individual charges are (I'm thinking really bad!).

 

They do prey on individuals that can't get help anywhere else and really sting them on the APR. It's like the other mortgage companies such as GMAC, SPML and Kensington, then you get trapped, the more payments you miss the worse your credit score, the worse your credit score the higher the APR, the higher the APR, the more difficult it is to pay ...

 

I'll do some reading up and give it a go ... Thanks !


HSBC - Owed £1315, settled at £1150 - 08/06

First National Tricity Fiance - Owed - not sure ? DPL sent 20/09/06

Alliance & Leicester - Owed £595 - Moneyclaim started 20/09/06

HSBC for Dad - Owed £1500 - Moneyclaim started 20/09/06

Capital One - Owed £495, Settlement Rejected £195, LBA sent 12/09/06

Barclays for Dad - Owed £3200, LBA sent 12/09/06

SPML & Blemain Finance for Mum & Dad - Awaiting Statements could be huge !

 

 

Failure is not an option ! - NASA

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Fill me in every step of the way, youve soooo got my support on this one. I hope you get every penny back and remember, they nailed you for every penny, even if it was the last one in youre purse.

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Have Blemain responded to your SAR yet Gemster? ive just filed there papers into order, which consist of three loans. Will need some help with this though as I know they will make things dificult. Just wondered what youre updates were.

Maybe as the contract was signed using rule 78, it will be difficult to argue. They also put a clause in saying the lender may vary the rate at his discretion.

please keep us updated here.

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Blemain Finance, Cheshire Mortgage Corporation, Lancashire Mortgage Corporation, They are all part of one group, Blemain mainly do secord charges, Cheshire residential mortgages, Lancashire commecial mortgages and bridging loans. I have not come across this rule 78, but look on your KFI that would have covered the redemption and how much it would cost. I would think if its not on there it should not apply. These lenders will not give you any thing with out a fight

The Mortgage Man

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Try to avoid blemain


-----------------------------------------------

Mortgage Express charges- settled in full after issuing claim

 

------------------------------------------------

To view the FAQ'S click here: http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/

To view the PRELIM letter click here: http://www.consumeractiongroup.co.uk/forum/bank-templates-library/516-1-data-protection-act.html

To view the Letter Before Action click here: http://www.consumeractiongroup.co.uk/forum/bank-templates-library/92-3-letter-before-action.html

To find Registered Address:

http://www.esd.informationcommissioner.gov.uk/esd/search.asp

 

 

If my advise helps click here http://www.consumeractiongroup.co.uk/forum/reputation.php?p=366404

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we are the others, talking from experience nathal

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unfortunately, we cant stay away, as were about to be re united via potential court proceedings and reclaiming charges.

 

We are the experienced, thats why were here.......

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Hi Do you think the person who named Welcome thought Welcome Sucker ,but apart from that Nathal right stay away from these lenders but for some people these lenders are there only hope of saving their homes and giving them a new chance to rebuild their credit history. Its a pity that some financial advisors just use them to feather their own nests with out regard to their clients. For people with these lenders Try and keep your payments straight for 12 months and then change to a main stream lenders, and then sue them for the ERP.

The Mortgage Man

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Just started a claim against Blemain Finance..'never heard of them'...you dont want to!

 

Anyone else who has come across them or is in the throws of making a claim...lets be support buddies...

 

Hag!! I'll need you help on this one..........

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Hi dax

I have a loan with them now and will be interested to see how you get on with them


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Gosh Midge, ive been there and it was hell!

There are to my knowledge two others here with Blemain dealings and from my experience this company really acted underhand. How long have you had a loan from them?

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Feb last year to clear LLoyds overdraft and some other things. Had some with them before and they were ok tho not had problems with them so far that is.


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Heres some handy info Nathal kindly remembered to keep for me while perusing updates: Does it affect any of the claimants here?

 

Ill check my contract and let you know if the clause is in mine.........

 

Consumer Updates

Unfair contract terms - agreement from firm

Product group: Mortgages (Early repayment charges)

Type of product: Repayment mortgage

Name of firm: Blemain Finance Limited

 

What did we think was unfair?

A term in Blemain's repayment mortgage contract said if a customer repaid their mortgage early, the firm would calculate the early repayment charge using a formula known as the 'Rule of 78'.

 

Why did we think it was unfair?

Because it could result in the customer paying a charge much higher than would reasonably compensate the firm for charges lost through early repayment.

 

What has the firm done?

They advised us that consumer mortgage contracts entered into since January 1998 have not contained the term.

For mortgages entered into before 1998, Blemain advised us they use both the Rule of 78 and a different method to calculate the charge, with the customer paying the lower of the two.

 

Other information

Blemain provided us with documentation confirming they gave the Office of Fair Trading an informal assurance they would stop using the term in November 1997. This agreement formally adds to that assurance.

They also advised us that by 31 December 2005 they had written to all non-commercial customers with contracts containing the term to tell them how they calculated settlement of those mortgages – as described above.

If any of Blemain's customers still have concerns about a mortgage contract containing the term they should get in touch with the firm who will be happy to consider the matter further.

 

Old term

The Borrower may at any time repay the whole of the Principal Sum outstanding but in the event that such repayment shall take place prior to the expiration of the Repayment Period whether at the request of the Borrower or following exercise of the Lender's power of sale the Borrower shall pay the total sum of Principal and Interest calculated in accordance with the formula (known as the Rule of 78) an illustration of which is set out in the Schedule hereto. In addition the Lender shall be entitled but not required to add to the resultant figure an amount equal to six months interest or such lesser figure as may be lawfully permitted for such cases as where a variation of the Rate has been made in accordance with Clause 3 hereof and in such cases for the purposes of calculating the said figure in accordance with said formula the rate of interest shall be deemed to be the Rate as if no variation in accordance with Clause 3 hereof had been made.

 

Back to recent cases

 

 

This page reviewed 19 October 2006

Consumer Home | About Us | Contact Us | FSA Home Page | Legal information | Privacy Policy Statement

© Financial Services Authority

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Got statements back from Blemain..cant make head nor tail of them though. Anyone else in the same position here?

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Loads of stuff missing and minimal and confusing print outs sent (not satements as such) so sent off a letter of non compliance yesterday. Will

Wait to see what comes back

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None legible form (to you) then none compliance with DPA They have to send their information in a form which the consumer can understand

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:( Took out a mortgage with the lancashire mortgage corporation [blemain finance] in jan 01 for £7500 over 180 months at £122.29 per month 24.62% APR. After making 32 payments on time £3913 I decided to remortgage with the abbey at a much better rate so wrote to the Lancashire for a redemption figure,cant remember what it was however after paying anoyher 6-7 payments I wrote again as I was ready to move to the abbey and despite paying 6-7 more payments of £122.29 the redemption figure they quoted was £350 more than the previous figure.

I wrote to them for an explaination and this was the reply

Your loan was for the sum of £7500 taken over a 15 year term. This loan being under £25,000,is regulated by the consumer credit act. This actprovides us with the calculations which we must use when compiling a settlement figure.

In essence, on a 15 year loan assuming all payments made on time, a settlement firure will rise in the early part of the loan. At the time this loan was redeemed you were only 2.5 years into a 15 year loan. Hence the settlement figure was slightly higher than the figure quoted to you 6-7 months previously.

I hope this answers your query.

What the hell does that mean?

So my £7500 loan paid off after 32 months with the redemption figure of £9,650.30 cost me the total sum of £13,565,30 IS THIS LEGAL? or have i been ripped off big time:confused:

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Just looking in my t,s and c,s about early redemption and found no reference to rule of 78 only [Rebate on early settlement regulations 1983]. Although at the bottom of the page it states that the consumer credit act 1974 coveres this agreement. Going to look into these acts and regulations and will post my findings, im on a mission now!

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style="text-align:center;"> Please note that this topic has not had any new posts for the last 673 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you
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