Blemain Finance

toshy

Is there anybody else out there who feels they've been stitched up by this company, it's procedures, and confusing responses?:mad:

ILW

In what way?

toshy

ILW wrote: »

In what way?

The amount I owe is rising every year and the payment I was told I needed to make does not even cover the interest they are applying. Plus although I have buildings insurance and have sent them full details of this, they repeatedly claim they have not received it and have been adding charges of over £500 a year for their own (duplicate) insurance on my property.

Apples2

Surely they advised you repay exactly what the agreement said in the first place.

Sounds like you have defaulted on your loan, if so, what offer did you make for your repayments?
Their advice could only have been to make the full payment in accordance with the agreement PLUS some extra each month to bring you up to date.

It stands to reason if you could have afforded more each month, you would have been paying more. If what you are paying is all you can afford, you are making the most of a bad position. The debt may still be climbing, but at a lesser rate than it would have if you were paying £1 a Month.

toshy

Apples2 wrote: »

Surely they advised you repay exactly what the agreement said in the first place.

Sounds like you have defaulted on your loan, if so, what offer did you make for your repayments?
Their advice could only have been to make the full payment in accordance with the agreement PLUS some extra each month to bring you up to date.

It stands to reason if you could have afforded more each month, you would have been paying more. If what you are paying is all you can afford, you are making the most of a bad position. The debt may still be climbing, but at a lesser rate than it would have if you were paying £1 a Month.

No I have never missed a single payment. I pay by direct debit each month which they set up and was the original repayment rate on my agreement. I am trying to obtain full details of charges they have applied. They sent me out some statements a few weeks ago and then this week sent "replacement statements" with an apology if the previous statements were confusing, but these ones are even more confusing as in one year the monthly interest charges listed range from £179 to up to over £1000. The statements also only go back to Oct 2008. Apparently prior to that date they were under no obligation to supply customers with statements.

Apples2

You'd have to post up full details of your loan.

How much, over what term, what APR, any payment holidays, any extras etc.

Phelpsie001

You need to contact the financial and insurance ombudsman ASAP. They are fantastic and will sort it out!! They fight for you and are a Government agency. I really can't stress to you how good they are.

toshy

toshy wrote: »

No I have never missed a single payment. I pay by direct debit each month which they set up and was the original repayment rate on my agreement. I am trying to obtain full details of charges they have applied. They sent me out some statements a few weeks ago and then this week sent "replacement statements" with an apology if the previous statements were confusing, but these ones are even more confusing as in one year the monthly interest charges listed range from £179 to up to over £1000. The statements also only go back to Oct 2008. Apparently prior to that date they were under no obligation to supply customers with statements.

I forgot to mention that throughout the loan period to date, the monthly interest rate has not changed, but the amount of interest charged each month, appears to go both up and down, even although the amount I owe goes up each month and the amount I pay is the same (if this makes any sense?)
I've phoned many times, but always get conflicting replies. My letters were unreplied to, until I was advised to send everything by recorded delivery. Since then I have had written replies, but they are equally as confusing. Ive been told 6 times (5 verbaly on the phone and once in writing that they have my insurance documentation and the charges applied for their own block buildings insurance would be credited to my account, and 4 times (verbally) that no documentation has been received. No insurance charges have been refunded to date.

robbedofmymoney

toshy wrote: »

No I have never missed a single payment. I pay by direct debit each month which they set up and was the original repayment rate on my agreement. I am trying to obtain full details of charges they have applied. They sent me out some statements a few weeks ago and then this week sent "replacement statements" with an apology if the previous statements were confusing, but these ones are even more confusing as in one year the monthly interest charges listed range from £179 to up to over £1000. The statements also only go back to Oct 2008. Apparently prior to that date they were under no obligation to supply customers with statements.

what you need ot do to get the statements form previous years is request a SAR. they then have to give you all the information they hold on you, every payment, every charge,
they have to hold this information for a minimum of 6 years.

it will cost you £10 to get

please see the link.

https://forums.moneysavingexpert.com/discussion/1475553

you can alter the letter to suit your request.

so you could ask for a copy of the original agreement and terms and conditions you signed up to.

details of all the interest that has been charged on a monthly basis etc etc

once you have the information you may be able to look more closely on what is happening.

just one point, was the APR variable or fixed, as if variable they may have increased this over the last few years putting you in the situation you are in where the fixed repayments are not even covering the interest payments.

are they also charging you interest on the insurance premium for your house, if so then you may be able complain about that as well.

toshy

Phelpsie001 wrote: »

You need to contact the financial and insurance ombudsman ASAP. They are fantastic and will sort it out!! They fight for you and are a Government agency. I really can't stress to you how good they are.

Thanks Phelpsie, can you tell me how to do that please?
I'm told Blemain are not regulated by the FSA, only the CCA... although the brokers who arranged the loan were. They initially cold called me saying they were working as part of a government initiative to help reduce consumer debt. That's why I'm so mad, because I am now more in debt than I was before!

Phelpsie001

http://www.financial-ombudsman.org.uk/consumer/complaints.htm

They will advise and help you through it. They really are fantastic. They've helped me twice before and add a huge amount of weight behind you. Good luck!!!