Black Horse Finance - FEES

ScoobyDooLondon_2

I was looking into my cousin's unsecured loan agreement with Black Horse Finance (as he's in arrears) and found out that he was charged fees totally several hundreds of pounds.

I called BHF and they say the fees are calculated:

after 10 days of missed payment £25 fee
after a further 10 days missed payment, a subsequent £25 fee
after another 10 days they charge £30 fee
and every 30 days thereafter they charge another £30 fee

I've asked them for justification of these fees as there are no letters or calls so no expense has been incurred by them, awaiting a formal response.

In the meantime, does anyone know if these fees are justified on the basis of delayed/missed payments? I mean, what's stopping them from charging £1000 instead of £30 each time this occurs?

Is this worth persuing, firstly through Black Horse Finance and then through the regulator to try and get the fees reimbursed (in much the same as bank charges)?

If this is unsuccessful at BHF, which regulator would this action have to go through, is it FSA?

Thanks