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Hi Everyone Ref; Blemain Finance

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  • 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
    Tags: None

  • #2
    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, 20:20:PM.

    Comment


    • #3
      Re: Hi Everyone Ref; Blemain Finance

      First step is to request a subject access request

      Comment


      • #4
        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

        Comment


        • #5
          Re: Hi Everyone Ref; Blemain Finance

          ask to see the application form

          Comment


          • #6
            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?

            Comment


            • #7
              Re: Hi Everyone Ref; Blemain Finance

              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

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              • #8
                Re: Hi Everyone Ref; Blemain Finance

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

                Comment


                • #9
                  Re: Hi Everyone Ref; Blemain Finance

                  ive got the same issue mate they are an absolute nightmare

                  Comment


                  • #10
                    Re: Hi Everyone Ref; Blemain Finance

                    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:

                    Comment


                    • #11
                      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.

                      Comment


                      • #12
                        Re: Hi Everyone Ref; Blemain Finance

                        How are things progressing

                        Comment

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