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Charges and interest added onto a loan that has just finished

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  • Charges and interest added onto a loan that has just finished

    Hi there,

    This may have been covered before so apologies if so and please point me in the right direction .

    We Took out a joint secured loan for £20k over 120 months. it finished last month and we still owe nearly 4k in penalty charges. We have tried the Financial Ombudsman who got back some interest but tbh they were little help and pretty toothless IMHO.

    The charges stem back to early on in the loan when we were having trouble paying due to my heart failure and dropping to one income. Blemain offered to move the payment date forward to help us and it seems we incurred charges which have built up over the next years. we paid our minimum payment + £5.00 additional for the 120 months yet still we owe them nearly £4000.00 in penalties!

    I have found them devious to the point of lying on previous occasions dealing with them and find them difficult to get any information out of them and fail to see how we can owe them so much being we paid out payments each month.

    Is there anything we can do as i do not feel we owe this money.

    attached are some of the charges

    Many thanks in advance
    Attached Files
    Tags: None

  • #2
    Re: Charges and interest added onto a loan that has just finished

    4 days, 41 views and not a single comment, anyone?

    Comment


    • #3
      Re: Charges and interest added onto a loan that has just finished

      [MENTION=48934]Debt Camel[/MENTION] [MENTION=1508]Nibbler[/MENTION] ... any idea??

      :sorry: [MENTION=82194]zohan[/MENTION], we've been a bit busy over the weekend xx
      Debt is like any other trap, easy enough to get into, but hard enough to get out of.

      It doesn't matter where your journey begins, so long as you begin it...

      recte agens confido

      ~~~~~

      Any advice I provide is given without liability, if you are unsure please seek professional legal guidance.

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      But please include a link to your thread so I know who you are.

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      Comment


      • #4
        Re: Charges and interest added onto a loan that has just finished

        Hi zohan

        When was the loan taken out
        CAVEAT LECTOR

        This is only my opinion - "Opinions are made to be changed --or how is truth to be got at?" (Byron)

        You and I do not see things as they are. We see things as we are.
        Cohen, Herb


        There is danger when a man throws his tongue into high gear before he
        gets his brain a-going.
        Phelps, C. C.


        "They couldn't hit an elephant at this distance!"
        The last words of John Sedgwick

        Comment


        • #5
          Re: Charges and interest added onto a loan that has just finished

          Hi there,

          Loan taken out in Jan 2006 - 120 months, secured against property (2nd charge) , literally just finished paying loan, now have to payu off charges they added on (see pics) That total nearly 4k. i have written to Blemain or Together or whatever they are calling themselves this month asking them to clarify the repayment arrangements, continuing paying it at the repayment rate of 340.00 approx a month but i believe part fo the repayment is interest on these charges they have added which cannot be right? but we shall see.

          Can they charge interest onto charges once the loan is cleared? the loan has a zero balance apart from the charges they added on.

          Many thanks.

          Too add currently looking at an unfair relationship case against Blemain for commissions and hidden commission charges on the loan and PPI and was not aware that Ocean Finance was part of Blemain when we took the loan out, we believed it was separate.


          Going after these buggers for all we can.

          Original loan was 20,500.00. they have already had 39.700.00 and still want more!

          Big mistake but at the time seemed like the best solution, hindsight and all that.....

          Comment


          • #6
            Re: Charges and interest added onto a loan that has just finished

            Just a thought, i did add this info on my post: 51 complaints to the Financial Ombudsman Service in a 6 month period with a 22% success rate. it may be worthwhile writing to the FOS under the freedom of information asking what the 22% cases were about

            Comment


            • #7
              Re: Charges and interest added onto a loan that has just finished

              Do you know whether your loan is regulated or unregulated. Have you received regular annual statements as they seem to pretty lax at sending them out in breach of CCA2006.

              Comment


              • #8
                Re: Charges and interest added onto a loan that has just finished

                Just be aware what you put into your FOS complaint may be used against you in court it certainly was in my case even though FOS would not take on my case as its classed as unregulated being over 25k and prior to Apr 2008.

                Comment

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