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Hi There,
First post here. Im having a nightmare with Blemain finance and looking for anyone whos dealt with this company before. Basically i took out a £5000 secured loan against my property to clear of arrears in 2007. payments were £63 over 25 years. Didnt think it was that bad as was planning to move and would cleared it with equity in the house. then the recession hit! i have missed lots of payments with them but never knew these charges were getting added on to the original loan amount with interest on top. nearly ten years later things have spiraled out of control. im now due them just under £15,000 because of these charges being added for a £5000 loan. i have been paying them £100 a month - £63 original loan plus £37 to arrears. but just got a letter saying im still get charged the interest on top which is 138/month! so really they now want me to pay £200 per month now just to keep up to date! hoping to find someone who knows if these charges are legal to be put on top of oringnal loan amount so it can build interest and
if there has been any other cases where these charges have been over turned? its all just a mess and seems this cant be right the way they do this?
Thanks
First post here. Im having a nightmare with Blemain finance and looking for anyone whos dealt with this company before. Basically i took out a £5000 secured loan against my property to clear of arrears in 2007. payments were £63 over 25 years. Didnt think it was that bad as was planning to move and would cleared it with equity in the house. then the recession hit! i have missed lots of payments with them but never knew these charges were getting added on to the original loan amount with interest on top. nearly ten years later things have spiraled out of control. im now due them just under £15,000 because of these charges being added for a £5000 loan. i have been paying them £100 a month - £63 original loan plus £37 to arrears. but just got a letter saying im still get charged the interest on top which is 138/month! so really they now want me to pay £200 per month now just to keep up to date! hoping to find someone who knows if these charges are legal to be put on top of oringnal loan amount so it can build interest and
if there has been any other cases where these charges have been over turned? its all just a mess and seems this cant be right the way they do this?
Thanks
