blemain finance warning post - BEWARE

Apples2

Jaydee26 wrote: »

BIGGEST MOST COSTLY MISTAKE OF MY LIFE

Makes you wonder how Secured loans seem so attractive to people doesn't it?
We get multiple posts each day on here from people desperate to sign up to the same kind of deal you did with no considering at all about the downstream consequence.
Most of our advice to avoid them leads to a barrage of abuse from the poster who sees a loan the same as yours the best way out.

Take heed of magiciansgirl post on the last page, a little success at least but the bottom line is, Secured Loans are borne from the loins of Lucifer himself, it just takes a few years to realise.

jodeekay

I have been with Bleheim Finance for 6 years now. After being completely at their mercy I thought it would be a good idea to settle up. The loan started at £17,000. After admin fees the loan escalated to £19,300. After failing to acknowledge our building insurance the loan jumped to £21,000. After paying in excess of £16,000 in the last 6 years they having quoted me a settlement figure of in excess of £22,000. Blemain Finance are crooks and this government are letting them get away with it.

Apples2

I would argue it is YOU who are letting them get away with it by agreeing to swap 38,000 of your money for 17,000 of theirs.
It must have seemed an attractive deal to you when signing up.

magiciansgirl

Apples2 wrote: »

I would argue it is YOU who are letting them get away with it by agreeing to swap 38,000 of your money for 17,000 of theirs.
It must have seemed an attractive deal to you when signing up.

With respect, Apples2, I think your reply is a little harsh. Speaking solely for myself, I took the advice of a broker and only later discovered that Blemain were less than reputable. I think a fair few people would also have had my experience, as I think Blemain were recommended by a lot of brokers in the early nineties.

Kind regards, MG

magiciansgirl

jodeekay wrote: »

I have been with Bleheim Finance for 6 years now. After being completely at their mercy I thought it would be a good idea to settle up. The loan started at £17,000. After admin fees the loan escalated to £19,300. After failing to acknowledge our building insurance the loan jumped to £21,000. After paying in excess of £16,000 in the last 6 years they having quoted me a settlement figure of in excess of £22,000. Blemain Finance are crooks and this government are letting them get away with it.

Hi, send Blemain your insurance details by recorded delivery - they don't ever deal with anything sent any other way - with a copy of your letter kept by you. This should force them to admit that you have told them all this.

For really constructive advice, try the Consumer Action Group website, or Legal Beagles,where you will find lots of stuff on Blemain. Best wishes, MG

meer53

magiciansgirl wrote: »

With respect, Apples2, I think your reply is a little harsh. Speaking solely for myself, I took the advice of a broker and only later discovered that Blemain were less than reputable. I think a fair few people would also have had my experience, as I think Blemain were recommended by a lot of brokers in the early nineties.

Kind regards, MG

Because the brokers were probably getting lots of commission !

You must have been aware of the interest rates and how much you would be paying back when you agreed to the loan ?

magiciansgirl

I'm not here to get into an argument, but to try and help those who need help. This is what this forum is about, not to judge, or make other people feel like fools.

Yes, the interest rate seemed high, but I was relying on supposedly impartial professional advice, and was told the deal was all that was open to me. I learnt a very hard lesson, did not know enough at the time to check the deal out on forums like this. I had a very, very STEEP learning curve subsequently, and I really want to help other people avoid the mistake that I made. MG

BugsyBrowne

magiciansgirl wrote: »

I'm not here to get into an argument, but to try and help those who need help. This is what this forum is about, not to judge, or make other people feel like fools.

Yes, the interest rate seemed high, but I was relying on supposedly impartial professional advice, and was told the deal was all that was open to me. I learnt a very hard lesson, did not know enough at the time to check the deal out on forums like this. I had a very, very STEEP learning curve subsequently, and I really want to help other people avoid the mistake that I made. MG

Agree there are way to many members on here who go all guns blazing into new members and who are damn right rude to them and there is no need for it.luckily I am not like this as I have a lot of sympathy for new members and their problems and I am always willing to help the best I can;)

meer53

BugsyBrowne wrote: »

Agree there are way to many members on here who go all guns blazing into new members and who are damn right rude to them and there is no need for it.luckily I am not like this as I have a lot of sympathy for new members and their problems and I am always willing to help the best I can;)

Well thats good to know

BugsyBrowne

meer53 wrote: »

Well thats good to know

I think I am actually the worst at advice and I certantly dont show no sympathy,I do believe it's best to come down on them as hard as.