Firstly im so glad i found this site i was feeling extremely upset and could see no way out of my current situation ill try and explaine as best as possible
Back in 2006 me and my partner took out a loan with Blemain to start our own bussiness they were highly recommended by a broker please dont judge i already know we made the biggest mistake of our lives and will regret this for ever they came and assesd our home as security and imediatly agreed to lend us 44,000 inculuding there fees and broker fee the total come to just over 48,000 we were both out of work and had no payslips to prove income i was told they (the broker) will deal with that
i didnt need to worry cut a long story short 9 years later i asked for a redemtion figure to settle the account i am yet to recieve this but my latest statment says redemtiom figure is a staguring 54,000 we have already paid 53,000 into the account i qustioned why my loan is not decreasing once back in 2013 and recieved a refund of 1,169.00 back as unfair charges . i again complained last month for the same reason and was sent back an explanation saying charges accured on the account in 2007 when we were in extreme difficulty in reaching our monthly payments all those charges have been added on to the total loan amount in the regon of around 4000 and have been since accuring interest im at my wits end i sent them a settlement offer of 45,000 which they declined i was told on the phone when i took the loan out it was unregulated therefore they were not obliged to tell me me charges have been added and will incure interest and that the 480 a month payment will not even cover interest so my account has slowly risen and not decreased i feel sick to think they want 54,000 as settlement so if i did pay that i would have paid blemain 107,000 for a loan of 48,000
even the broker fee should have been 1000 but on paperwork it says 2500 again we folishly signed without reading small print apr charged was as follows2006 9.10% july 2007 9.60% august 2007 11.60 and its been that rate up until now
to sum up
loan amout 48,297.00
9 years payment made = 53,000 to date (roughly)
redemtion figure from last statement 54,000
sorry this is so long any advise will be highly appreciated
x
Back in 2006 me and my partner took out a loan with Blemain to start our own bussiness they were highly recommended by a broker please dont judge i already know we made the biggest mistake of our lives and will regret this for ever they came and assesd our home as security and imediatly agreed to lend us 44,000 inculuding there fees and broker fee the total come to just over 48,000 we were both out of work and had no payslips to prove income i was told they (the broker) will deal with that
i didnt need to worry cut a long story short 9 years later i asked for a redemtion figure to settle the account i am yet to recieve this but my latest statment says redemtiom figure is a staguring 54,000 we have already paid 53,000 into the account i qustioned why my loan is not decreasing once back in 2013 and recieved a refund of 1,169.00 back as unfair charges . i again complained last month for the same reason and was sent back an explanation saying charges accured on the account in 2007 when we were in extreme difficulty in reaching our monthly payments all those charges have been added on to the total loan amount in the regon of around 4000 and have been since accuring interest im at my wits end i sent them a settlement offer of 45,000 which they declined i was told on the phone when i took the loan out it was unregulated therefore they were not obliged to tell me me charges have been added and will incure interest and that the 480 a month payment will not even cover interest so my account has slowly risen and not decreased i feel sick to think they want 54,000 as settlement so if i did pay that i would have paid blemain 107,000 for a loan of 48,000
even the broker fee should have been 1000 but on paperwork it says 2500 again we folishly signed without reading small print apr charged was as follows2006 9.10% july 2007 9.60% august 2007 11.60 and its been that rate up until now
to sum up
loan amout 48,297.00
9 years payment made = 53,000 to date (roughly)
redemtion figure from last statement 54,000
sorry this is so long any advise will be highly appreciated
x
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