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Blemain Finance GRRRRRRRRRRRR

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Hello

 

I was stupid enough to take out a secured loan with Blemain Finance in October 2006. It was £5000 to be repaid over 5 years.... thankfully the term is nearly up now! I have some arrears on the account but these amount to about £500 and I have an agreement with Blemain to make my repayments of £124 a month plus £44 towards the arrears. I am working really hard to fully repay my total loan amount as per the original agreement buy the time October comes so that I no longer owe them anything from the loan agreement! (and they wont be able to charge me for the "roll over fee") But what I want to know is what happens then? I have charges on the account from a repossession hearing that I had about 3 years ago when I lost my job and went a bit loopy with a marriage break up and they have been helpfully sending me letters to tell me that my account is in arrears (at £35 a pop). I don't know how much it is going to be but I can imagine it will not be cheap... Will they demand payment in full, will they be able to keep the 2nd charge in place on my deeds and so obviously the threat of repossession hanging over me? Their fees for sending a letter etc are obviously a form of revenue stream and bear no resemblance to the cost of actually sending the letters, but is this covered any leglislation, the loan is regulated by the CCA but maybe Blemain are not regulated by the FSA... I'm just a bit confused.......GOD, if there was ever a bad decision that you made in life..... mine was getting into bed with these buggers.... and I get the feeling that the fun is just about to get started!

 

Also, now i am near to paying off the loan, and owe relatively little on it I feel now is a good time to maybe start trying to get the fees reduced because I've made very regular payments for three years and paid well over £6000, and will continue to make my payments and so no judge in the world would grant them possession of my house.

 

Thanks for reading .xxx

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perhaps you are very fortunate that you are able to understand the terms of your loan agreement.as such know all the fees etc.

i know someone,whom has paid back 95 percent of a loan from them and find themselves now owing not just the original loan amount,but twice that much as well,having paid back almost the capital borrowing amount,plus interest for 6 years.on a self cert broker issued secured loan,that stated this is the only loan you can get.

they have asked for help and advice as to stop the account climbing irresponsibly or unnessarilly higher,when work and income situations change. knowing the customer cannot possibly ever realistically pay it off,unless fees and costs are stopped for a while,if costs and interest and other nefarious fees are added.that is with statements of means etc,that were answered by the companies representative answer,provable,saying,we dont care,we are not regulated.that is what they said !!!!

that someone i know,is dumfounded and has nowhere to turn to sort this out now.further phone calls and further begging letters were answered by the words our charges stand.

the letters are real as well stating that the costs and fees are what you have to pay,as in have to.

they also state,we are not regulated via phone calls,when you ring them for help and advice,they have deliberatley sent excessive amounts of letters,made extremely excessive amount of phone calls,are unanswered ones charged?and it would be deemed harrasment if pursued.

it is with great reluctance that i am even answering to your thread,the company that you are speaking about that you are unsure about with regards to fees etc,i can only say this,ring them,ask them, write to them,ask them,email them,beg them,to give you the information you are rightly and legally obliged to get from them.

then,peruse and see if you have or have not got an account disagreement that needs sorting out.

 

btw, repossession is very very real for these companies regardless of what you may think a judge will say.

thats the scary bit.

Edited by helpasker
annoyed

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Well thanks helpasker. Not sure that your post was what I wanted to hear or necessarily helpful but thank you for taking the time to reply. Quite a rant there! lol But further investigation of Blemain means that I've found out that they are regulated by the FSA. For them to say that they are not regulated by someone is a bit of a fib.... I went for a job selling insurance over the phone and was turned down because I failed the credit check, ditto for an estate agency job I went for... both of these positions being regulated by the FSA.... if I can't get a bloody low grade job because of the FSA I fail to see why a loan company can carry on trading in tis country without being regulated! Anyhow, "treating customers fairly, unfair terms, penalties dressed as admin/default charges" loads of literature to read all over the web on this site and others, but will have to see how I go and see how much they are trying to get out of me. Always have the option of the no win no fee solicitor that keeps contacting me!

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hi mate glad to see you are getting through your problems with B.. ,only thing i can say is continue your payments as agreed but also begin an action for recovery of monies you think they may owe you , Blenheim are the worst company ever to deal with so just be very careful they are a treacherous bunch , and they may say one thing but do another so with them watch your back , this warning is not given lightly be very careful in your dealing with this lot , just type in bleheim in the search forum and read the horror stories about them .... so pay off your loan but also begin an action against them for the recovery of excess charges

patrickq1


http://www.consumeractiongroup.co.uk/forum/welcome-consumer-forums/107001-how-do-i-dummies.html

 

 

 

 

Advice & opinions given by patrickq1 are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional

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hi, blemain is the worst loan company i have ever been with. I was taken to court and offered a sum each month on top of my original payment, but the amount i owe is still high. i asked them for all late payment fees and all charges to be refunded on my account as with the new law. it took only 2 weeks to do this as i threatened them with the unfair relationships act and threatened to sue them in court for charges above the norm. also for anybody who has problems with blemain, you threaten them with this and also 'peter bentley v Blemain' look this up on the internet and tell blemain you are going to do the same and hopefully you will sort this out. good luck xx

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THANK YOU VERY MUCH.................. I'm very happy for you. And thanks for the post. They are leeches and think just because you signed a credit agreement with you it gives the a license to print money...... your money. I'll certainly look into it. I'd love to finish paying the loan in October and then have their charge removed from my home!

 

XXXXXXXXXXXXXXXXXXX

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hello, me again, I'm just reading about the case now. Did you SAR Blemain, did you write to them or did you just ring them up. I posted on this site a month or so ago and the next week I received a letter from them telling me about my settlement figure and from what I can work out its a hell of a lot less than it should have been and also they were saying they could offer credit facilities so as to not incur more interest! Its almost as if they knew I had posted!

 

xxxxxxxxxxxxxxxx

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Hello to everyone with blemain. I took out a loan with them in 2007 then i had a stroke, off work etc. got behind they took me to court, repossession order suspended and paid my monthy rate and an extra 20 per month as court order. my loan was for 34,000 it is now at 43,000 due to their court costs fees interest charges, so to cut along story short (if you can about blemain) i will never pay off this loan. well thats what i thought until i spoke to someone. i asked for all my paperwork from the start of this loan under the subject access law and paid a £10 fee for this also a cd of all phone calls they were charging me for. As you can imagine they sent the majority of these but imoptant ones they didnt, good job i kept all mine just to check up. also all the phone calls they charged me for wernt on the cd only some of them so i asked for a refund of all those not on the cd and all late payment charges also all charges that the new law states should be refunded, this i got back within 2 weeks, a full refund. I also looked up on the internet 'Peter bentley v blemain' for unfair relationship act 140 and am now going to sue Blemain under this act as have paid them £10,000 for nothing as my debt is never reducing. i have stopped paying them in feb of this year as i am in dispute over my loan. they have a new revised charges sheet available, you wont believe how they have reduced they as with the oft. they say they are not regulated, but all loans are regulated to an extent, they are not allowed to be unfair, why would they lower there charges? and monarch and blemain are the same so if you have been charged for one thing with blemain and the same charge with monarch you can ask for a refund of one of them as they cant charge you twice for doing the same work, i have and they have refunded that too. at the moment i am after a lower interest rate. would anyone like to tell me their interst rate they are paying blemain? If even one of us are successfull towards getting blemain then it will open all the doors for everyone else. i have even been told by some one who works there (who doesnt any more) on another blemain site that they are loan sharks and something about money laundering as they were unsure where money comes from. well when i go to court i am asking the press to come along as i know i will win against this company as i am registered disabled now and am in a wheelchair, lets see how discriminating againt a disabled person works for blemain. and good luck to everyone against blemain. do not send them letters send and email to karen carridice and aske her to forward onto tracey her manager. do everything by email and we will help each other.:oops:

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Just make sure you report them to the FSA and the OFT, it will only be a matter of time before they get investigated....


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