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Thread: Hi Everyone Ref; Blemain Finance

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  1. #1
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    Default Hi Everyone Ref; Blemain Finance

    Hi, I was persuaded by my broker to take out a secured loan with Blemain Finance when my business was in trouble in 2010 and foolishly I did, since I took out the loan I have managed to pay £4,500 off the original sum of £11,000 but still owe over £12,000???

    My business has now ceased trading and I am only working 16 hrs per week and claiming working tax credit while looking for another job so as you can imagine I have fallen behind with my loan payments, I am now concerned that Blemain will come after my family home.

    Can anyone advise on this?

    Kind Regards
    Z

  2. #2
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    Default Re: Hi Everyone Ref; Blemain Finance

    Hi BigZ, sorry I can't be any practical help to you however I am sure if you looked at other posts on this site you would realise just in what sort of trouble this cowboy organisation are in and how they treat their customers. I hope others on this site will be of more practical help. I would suggest you start by first examining your credit agreement with a fine tooth comb.
    Last edited by Ruby; 15th October 2012 at 20:20:PM.

  3. #3
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    Default Re: Hi Everyone Ref; Blemain Finance

    First step is to request a subject access request

  4. #4
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    Default Re: Hi Everyone Ref; Blemain Finance

    Hi bigZ you say that you took a loan out while your business was in trouble
    did they carry out enough checks to see if you could afford the repayments or did they lend irresponsibly as i believe this company are happy to lend recklessly with a veiw to getting their hands on the equity from vulnerable people. Was this a regulated loan if so you have more rights

  5. #5
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    Default Re: Hi Everyone Ref; Blemain Finance

    ask to see the application form

  6. #6
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    Default Re: Hi Everyone Ref; Blemain Finance

    Hi Suffering, It was very easy to get the loan, my financial advisor just went through some forms with me and a few days later the loan was mine. Not sure what you mean by regulated, how can i tell?

  7. #7
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    Default Re: Hi Everyone Ref; Blemain Finance

    Quote Originally Posted by figaro123 View Post
    First step is to request a subject access request
    Hi Figaro, sorry if I apear stupid but what will this tell me and how will it help?
    Thanks
    Z

  8. #8
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    Default Re: Hi Everyone Ref; Blemain Finance

    The application form will tell you if they properly assessed your ability to pay

  9. #9
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    Default Re: Hi Everyone Ref; Blemain Finance

    ive got the same issue mate they are an absolute nightmare

  10. #10
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    Default Re: Hi Everyone Ref; Blemain Finance

    Quote Originally Posted by BigZ View Post
    Hi, I was persuaded by my broker to take out a secured loan with Blemain Finance when my business was in trouble in 2010 and foolishly I did, since I took out the loan I have managed to pay £4,500 off the original sum of £11,000 but still owe over £12,000???

    My business has now ceased trading and I am only working 16 hrs per week and claiming working tax credit while looking for another job so as you can imagine I have fallen behind with my loan payments, I am now concerned that Blemain will come after my family home.

    Can anyone advise on this?

    Kind Regards
    Z
    Just had a statement from blemain and it would appear I still owe them over £23,000 after paying £4,500 off an £11,000 loan, going to get all my figures sorted now and start attacking them...grrr :rant:

  11. #11
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    Default Re: Hi Everyone Ref; Blemain Finance

    The area with Blemain is a minefiled. YOu need a good Solicitor experienced in handling Blemain cases. In further posts on this forum a firm called Stephensons had some success with Blemain in the case of Bleman v Ridley. I'd defer to them.

  12. #12
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    Default Re: Hi Everyone Ref; Blemain Finance

    How are things progressing

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