chrisking1962 v Blemain finance PPI

[midge61]

Hi all

I have just spoken to someone at

 

Brian Tracey FAS admin

[email protected]

Tel 01484453525

Financial Agreement Solutions

These are the people who have that online agreement checker. Anyway I phoned them because the checker isn't working and the bloke asked who my agreement was with I said BF and he said well it's wrong then!!

They know them well.

On their site they charge £30 for the report on the agreement and then sgive you sugestions about where to go from there. They do sugest going to Brunel Franklin (no win no fee but 25% if you win!) but they dont agree with that so today they are finalising an agreement with a solicitor that will chare £100 plus vat and thats it nothing else to pay.

He is going to phone me again tomorrow and go through everything with me.

I personally dont want to take BF on on my own and would prefer a solicitor to do it knowing what Barstewards they are so I will consider using this route. They can also go over old agreements and fight them as well.

 

Thought this might be of interest.

[lesley82]

hi everyone dont want to hijack your tread but have some info that mite help. I took a loan out with blemain on 9th jan 2007 for £10,000.00 i rung 2 weeks ago for a redemption figure this is what i recieved

 

amount outstanding under the agreemen£39,950.00

less rebate calculated in accordance with the consumer credit(early settlement) regulations 2004£-26,637.99

redemption admin fee £395.00

collection costs£33.00

additional interest£4.89

total settlement figure £13,384.90

 

but then underneath its says the rebate has been calculated in accordance with regulations 3 of the consumer credit regulations 1983 and is 26/06/2007

 

on my credit agreement it says that the agreement is not cancellable under the consumer credit act 1974,the timeshare act 1992 or thefinancial services (distance marketing) regulations 2004.

Anyone shed any light compleatly confussed any info would be gratefully appreciated thank you.

[groovycaz]

Hi Lesley

you just might be in luck with the sharks, because tour loan was taken out after the recent changes in consumer credit agreements they cant (as they have done with us) claim that they are within their rights to refer to the consumer credit act of 1974, It looks to me that they are using the rule of 78 when they have calculated the early redemption figure, and i dont think they can charge nearly £400 redemption admin fee, looking at your figures they are RIPPING YOU OFF BIG STYLE it looks very much like my loan, you have tha added protection that they are now members of FISA which was not the case when I took out my loan GOOD LUCK your gona need it...GC

[lesley82]

thanks kaz il keep you updated at work all day going to sit down tonite and go trough paperwork take care and speak to you soon ta x

[midge61]

Hi all

Had a phone call from BF tonight.

The bloke said we have a letter from you claiming that an extra payment was taken in Aug 2006. Yes says I. Can you send proof of this says bloke. Pardon says I and he repeats can you send proof.

Well that was enough for me so I explain that I have sent proof twice and he tries to end convo then but I wouldnt let him so I tell him they now have copies of bank statement letters transaction numbers and its about time they apologised and repaid the money........ all the while he keeps trying to say thankyou and to get off phone.

Then I tell him that if they dont hurry up a complaint will go to FISA oh and by the way you havet sent me copy of your complaints procedure can I have one.?

During all of his spluttering he says takes a couple of days for letters to be read and note to go on file and that he cant help with complaint procedures but will put note on file.

Whole thing was qute funny especially as normally when they ring I am a complete nervous wreck but this time it felt great to have the upper hand!

[groovycaz]

Hi Midge

Well done you, I bet he didnt know where to put himself, no doubt hes used to calling people up with threats to reposess their property so its nice to hear when you put them on the spot... Excellent keep up the good work...GC

[hellhasnofury]

Hi Midge

Well done you, I bet he didnt know where to put himself, no doubt hes used to calling people up with threats to reposess their property so its nice to hear when you put them on the spot... Excellent keep up the good work...GC

 

Hello,

 

Yes I totally agree, well done and good for you. It is amasing how we evolve from the scared little rabbit to the hungry wolf.

 

POWER TO THE CONSUMER!!!!!!!

[chrisking1962]

hi midge61,

Well done for that, just remember the, how can I say this without sounding sarchastic? I can't so, obnokshush (I know it's spelt rong ) low life inhuman dregs at BF don't care what difficulties you are going through or how aggressive they are towards you and I am glad I nolonger have an account with them so it makes my battle for reclaiming a little easier as I don't fear them anymore.

Infact I feel a lot stronger to fight them.

BRING IT ON!!!!!

regards chris

[midge61]

Hi

Thanks for that. I sent a complaint off to FISA yesterday about it with copies of all the letters. So we shall see what happens next.

[midge61]

Hi

Had a reply from FISA this morning re my complaint

 

"Clearly, if as appears to be the case, you have evidence that a payment outside the terms of the agreement has been made, then the lender should not delay in refunding any overpayment.

I have referred your case to the compliance department of Blemain Finance Ltd and would hope that this will bring about a satisfactory resolution to your grievence."

 

Shall give it a week and if nothing from BF will contact FISA again.

[patrickq1]

this might help chris also from an oldpost of mine:

 

found this already on the forum ......

 

If your secured loan is governed by CCA 1974 then s.95 (1) entitles you to a rebate of charges to credit.

http://www.passprotect.studio400/ .me.uk/Consumer_Credit_Act_1974. PDF

The Consumer Credit (settlement Information) Regulations 1983 requires the creditor to give a statement of amount required to pay off the loan and how this was calculated. The Consumer Credit (Early Settlement) Regulations 2004 (see link below) regulates the calculations and these cannot be contracted out of to the detriment of the consumer (s.173(1) CCA). So an ERC would be classed contracting out of the Regulations to the detriment of the consumer. These Regulations only apply to loan agreements taken out since 31st May 2005:

The Consumer Credit (Early Settlement) Regulations 2004

 

If your loan was pre May 2005 the Consumer Credit (Rebate on Early Settlement) Regulations 1983 apply which contain the rule 78 which provides that creditors can charge upto six months interest on redemption. Anything over the 6 months interest would be regarded as a penalty and unenforceable..

 

However..Blemain Finance gave the Office Of Fair trading assurance in November 1997 that it would no longer use the rule of 78 when redeeming.

sorry to jump in on your but i had a problem with a company called SPOT FINANCE who are apparentley part of the blenheim group and they took me to court in january 2001 i owed a balance of 710.91 they took me to court for the monies and this is what they charged me balance outstanding 710.91 default intrest 169.32 collection costs 660.00 total amount due 1.540.23 this i paid into court after many arguements with the magistrate and five defaults for this debt the judge ruled in their favour so i had to pay the lot do you think i could claim some of this back

sorry again for buttin in its just that i noticed blenheim and it lit a fuse .... good luck to yourself and all athers who are succesful against these dogs

[midge61]

Hi chrisking

Have you got any updates?

After reading the thread again I wonder if you could go for mis selling on the ppi?

Were you told that without it your loan would probably not go through or perhaps not all the conditions were told to you.

Trading standards will look at the redemption figure and tell you if it was calculated properly and Blemain should have sent a full statement with it as well.

I've sent my sar off to them but not had an aknowledgement from them but then they seem to be a law unto themselves!!!!!

I really hope they are one of the 5 firms being investigated by the FSA regarding sub prime lenders.

[patrickq1]

Hi chrisking

Have you got any updates?

After reading the thread again I wonder if you could go for mis selling on the ppi?

Were you told that without it your loan would probably not go through or perhaps not all the conditions were told to you.

Trading standards will look at the redemption figure and tell you if it was calculated properly and Blemain should have sent a full statement with it as well.

I've sent my S.A.R - (Subject Access Request) off to them but not had an aknowledgement from them but then they seem to be a law unto themselves!!!!!

I really hope they are one of the 5 firms being investigated by the FSA regarding sub prime lenders.

hi chriss i bought a car and after a year plus 5 months i had a breakdown (still recovering)but when i got the finance nothing was explained cept i had to fill in the finance form that was it due to the breakdown i claimed but it was only for two years the payment from the PPI so i was left with another 710.91 but it was during my arguement with blenheim they used a company also at bracken house called monarch recoveries who are also part of spot and blenheim and a real bitch of a dog the legal manager sylvia,she openly discussed my case in front of the whole reception at the county court everyone could here her discussing the case with a total stranger,who said he was a bit of a debt collector he was touting for busines,well at the time i got a stay of execution and then prepared my defence,so when it came to the court hearing they never turned up so the case was thown out ,five weeks later i got another default and was taken to court again for the same debt ? so i argued with the judge and he aggreed with her cause she knew her way around and knew the legal part of it i had nt a clue so i lost and had to pay all the charges penalties and costs, so i have written them a nice letter today in temper after reading the threads of blenheim im like that blow up at the thought of them robbin me and shaming me in front of everyone,i have decided that they fraudulently have added charges knowing they were nt legal cause she pulled the wool over the judge with her legal arguments and i am ready to put my complaint to trading standards and ask them if they will look at the excesive charges concerning this case also the defaults against me they did five for the same bill

[midge61]

Hi pat

 

There is a thread on defaults

http://www.consumeractiongroup.co.uk/forum/legalities/11659-how-get-your-default.html?highlight=default+removal

 

Have a read through it might help.

 

Blemain do seem to be a law unto themselves though!!!!!!!!!

[chrisking1962]

Hi midge61

Hi chrisking

Have you got any updates?

After reading the thread again I wonder if you could go for mis selling on the ppi?

Were you told that without it your loan would probably not go through or perhaps not all the conditions were told to you.

Trading standards will look at the redemption figure and tell you if it was calculated properly and Blemain should have sent a full statement with it as well.

I've sent my S.A.R - (Subject Access Request) off to them but not had an aknowledgement from them but then they seem to be a law unto themselves!!!!!

I really hope they are one of the 5 firms being investigated by the FSA regarding sub prime lenders.

I havent got much to report I'm afraid.

The problem is with this one, is the fact that at the beginning of the loan the loan seller from Imagine Finance did not inform us of the PPI and we did'nt find out about it until we questioned why the redemption figure was so high with BF. I am currently complaining to Imagine Finance for the miss information we were told regarding early settlement charges, and we are also in the process of informing the FOS and the FSA of this but are allowing a few more day's for a response from Imagine Finance regarding our complaint.

I have also informed the insurance company of my dissapointment of the amount received as a refund and I have yet to send my SAR to BF regarding those ridiculous charges which on the reverse of some of their correspondences do not equal any amounts they have charged us and alos we still do not know what formula they used, as we only took the loan out in April 2006 and redeemed it 2 weeks BEFORE it's 1st year anniversary. It get's very annoying but I've got time with this one.

will keep you all informed

regards again

chris

[chrisking1962]

hi midge61,

sorry I forgot to say, ask them to supply you with the insurance company who covered the PPI agreement (could be the same as mine in cleckheaton check my thread earlier on) but don't expect any sympathy from them as they tell you to complain to your loan supplier in my case BF and sort of laugh in the background. Just go for it, they can only say sod off and if it's in writing take it to the FOS and the FSA and let them help out, thats what they are there for. Hope this clarifies a few points, but I'm no expert just someone who's trying to get back what I think belongs to me. WATCH this space!

Hi pat, wow it looks like you've had a crap time with it, and yes Moanrch Recoveries are part of the Blemain group, because if you contact them they are the collections dept and not the friendliest of low lifes you may have the displeasure of trying to talk to. They are'nt interested in helping just interested in seeing who in the department can make the most debtors squirm for them and beg for forgiveness. I would seek legal advice in this because if you lose control infront of the judge then you will more than likely lose any chance of victory be it small or large. Follow Midge61's advice with the link and keep me informed

Good Luck to you both

regards once again

chris

[jackiestandley]

Hi, Just found your site and threads and was very interested.

I have a dispute also with Blemain Finance.

I took out a secured loan last year for 25000 but repaid it in full in April this year at a cost to myself. Only had the loan for 9 months and they charged me £2,142.00 for PPI and would only refund £574 there excuse being that they only refund 1% of the remaining 27 months of unexspired premiums. RIPE OFF !! They also charged me £2,817.08 early repayment fee.

The original loan was for only £25,500.00 but with the fees thay added at the start it shot up to £29,780.00. I ended up repaying them £32.958.17 plus my total monthly payments which came to £1455.00 makeing a total of £34,413.00.

Wrote to them 3 months ago requesting repayment of PPI as was miss sold in our opinion. Sent letter special signed next day delivery, Blemain say they never got it, even though checked with PO and they signed for it. Sent another letter and same responce. Telephoned on numerouse occassions and got no where just fobbed off.

Taken case to Financial ombudsman but they have not had chance to look at it 3 months later. still waiting.

Any one got any advice, do not know what to do next!!!!!!!

[chrisking1962]

Hi Jackie,

Your PPI wasn't with a company called Premier Writers was it?

What I can not understand is the fact that despite paying the monthly instalments which should remove some (albieit a tiny amount) of the original loan value, HOW they can still charge an astronomical amount more, and by the sounds of both yours and my redemption figures (and probably hundreds more like us) by a few grand.

 

Did you realise you had signed for it, because when I complained to Imagine, I have just received their reply on it and they have kindly sent all the original copies and conveniently highlighted the areas stating the PPI, which is all good and well, but when the rep is saying "right just one more signiture here and thats it" you just don't check because you are so close to recieving the funds for what ever reason.

 

I wonder how hard the relevant bodies would come down on the high street banks if they behaved as rash and as agressive with their colletions/redemptions team. Know what remortgaged recently and my old mortgage supplier could not have been more helpul and forwarded another cheque well after completion for an oversight they found 2 months later.

 

Sorry for going on but I'm frustrated at things like this and it gives me chance to release some of the problems probably everybody is going through.

 

Where did you send your complaint to?

regards

chris

[jackiestandley]

Hi Chris,

I wrote to Blemain Complaints deptment on 2 occassions in April 07 and they never responded. I telephoned them on numerouse occassions and got told they did not ever recieved my letters, then on the last time was told they must have been accidently destroyed. I talked to the finacial ombudsman but still after sending all the copys of agreement etc have not had a responce from them. I spoke to consumer direct and they just told me to write to Blemain again. Waste of time.

My so called agreement says NOTHING about early settlment figures, there is NO mention of early settlment in the agreement. In fact there should be 5 pages of the so called agreement, page 2 was always missing, so we have no idear what is on it.

I never recieved any PPI policie documents of any description so have no idear as to who the insurance was with. I asked for a copy after we repyed them all the money and they sent us a document which says Direct Group Limited. Says underwritten by Norwich Union.

 

I today emailed Blemain again, but have had NO responce.

I just do not know what to do now. No one seems to be able to help and as far as I am concerned Blemain should be repaying me a lot of money.

 

We managed to get about £548 ish back from them as a PPI rebate, but they said that they work it out that, we had 3 years ppi WHICH CAME TO A TOTAL OF £2,142.00. They said take away 9 months premiums for the 9 months I had the loan for leaves 27 months premiums unused. They say they only repay 1% of remaining unused premiums. 27 months premiums + £1606.00 they only repay 1% of that which means I only get back £548 ish. So they keep over £1000.oop of our premiums. DISSGUSTING !!!

 

Ialso noticed in this so called agreement in the very small print section 29.5 goes on about some guggly gook with regard to the consumer credit act 197

[jackiestandley]

Hi,

Just had an email back from Blemain.

 

Dear Mrs Standley

I write with reference to your email received 12th July 2007.

The settlement statement as supplied to you on 20th March 2007 was calculated fully

in accordance with your legal agreement. The outstanding balance was calculated on

an actuarial basis (reducing balance) and not using the “rule of 78” as you state. The

Early Repayment Charge (ERC) was again calculated as per your legal agreement.

The rebate with reference to the cancelled PPI in the sum of £578.34 was sent to you

20th April 2007. This rebate amount was calculated in accordance to the terms and

conditions as detailed in your insurance documentation (again not using the “rule of 78”).

Any concerns which you have regarding the mis-selling of the PPI must be referred to

your broker who sold you the policy (Click For Freedom).

I am sure that this addresses all your issues.

Kind Regards

Howard Laddin

Group Customer Services Manager

Blemain Group

My responce is going to them now as:

I have gone over the agreement of which page 2 was missing and was always missing and can not find anything about early redemption figures at all.

We were never told about them, so they are totaly unfair. I feel it is up to Bleamin to remedy this situation forth with.

As for the insurance documentation, WE NEVER HAD ANY !!!!!

This must have been an over sight on the part of some one not our fault but yours.

We asked for a copy after we had settled our account in full and eventualy recieved one, but I am going over it with a fine tooth comb, so to speak and there is NOTHING about refunds in fact it is just a copy of what cover we may or may not of had and not anything else.

[midge61]

Hi all

 

Have a read of this thread it contains some very interesting facts about ppi and may be of use.

 

http://www.consumeractiongroup.co.uk/forum/ppi/59087-rule-78-unfair-could.html

[groovycaz]

Hi jacki and midge. im going to ask a good pal of mine on monday the rules of PPI and advice of where you stand, I can remember a couple of years ago the insurance industry brought in strict guide lines and the insurer had to be sure that the policy they were selling you had to be suitable for you and properly explained, il also ask him the best place for you to take your complaints, hes been in the insurance industry for years and also now mortgages, dont know why i never thought about him before...GC

[chrisking1962]

Hi Jackie,

I sympathise big style with you on this, as I NEVER had any policy dics for the PPI and did'nt realise as I said earlier that we had PPI until I questioned the redemption figure, and BF will always bounce you around with did'nt receive this and that, ask my solicitor when she tried to get the redemption figure from them even though she contacted via telephone/fax and email yet they delayed the release of the redemption figure which just coinsided with another monthly payment due, which I hasten to add They would not release the charge without this being paid first. Strange thing is when the loan was repaid they refunded the months payment with the usual delays of course to suit them!!!

 

As for the "Rule 78" I don't think they should be using this but check the advice out from Midge61 he'spointed me in the right direction.

 

hope it helps a little

 

regards

chris

[midge61]

Ahmmmmmmmmm

 

I am a laadeeeee!!

[chrisking1962]

I'm very sorry about that, deeply deeply sorry and it won't happen again.:o

thankyou for your help and I hope it does'nt detract from all our battles.

best apologetic regards as always.

chris