Unfair relationship - second charge lender

[figaro123]

Re: Unfair relationship - second charge lender

Welshperson (my hero)...hope all is well.

Thanks

[Sickofbullies]

Re: Unfair relationship - second charge lender

Good luck

[gallahad]

Re: Unfair relationship - second charge lender

You need to notify the court ASAP.
G

[Sickofbullies]

Re: Unfair relationship - second charge lender

Thanks-

[welshperson]

Re: Unfair relationship - second charge lender

For anyone with a consumercredit act regulated loan from blemain

Here is an easy way to show how blemain have a total disregard for rules and regulations,


Go and get some of the letters blemain sent you saying they were going to add a charge to your account (phone call, letter, monthly arrears etc etc)
Now get your statements of account.

Look at your statements for the dates that charges were added to your account, then look at the date on the top of the letters blemain sent you saying they were going to charge you for something.

What you will find is that blemain put the charge on your account before you received the letter.

What you also should know is that once a charge is added to your account you are paying compound interest on that charge from the day it is added to your account.

Ok now why is the above such a big deal?

Because the consumer credit act says that blemain shouldn’t add charges to your account until 29 days after you have received notice of the charge.

The consumer credit act also says that only simple interest is allowed (NOT COMPOUND) as your loan agreement is a compound interest loan then anything added to it gets compound interest added to that

Blemain are making a lot of money adding charges up to 2 months early, and then charging them compound interest for the time remaining on the loan agreement




5 DEFAULT SUM NOTICES

5.1From 1 October 2008, creditors will be required by section 86E of the
1974Act42 togive the debtor a notice in a specified form where a
defaultsum becomes payable under a regulated agreement. A 'default
sum'means a sum (other than interest) which is payable by the debtor
inconnection with a breach of the agreement


Thenotice must be given to the debtor within 35 days of the default
sumbecoming payable.44 Thenotice may be incorporated in any other
statement ornotice under the 1974 Act.

Thecreditor may not charge interest in connection with a default sum
beforethe 29th dayafter the day on which the default sum notice was
givento the debtor.45 Inaddition, such interest must be simple interest,
and may notbe compounded.

[IanM]

Re: Unfair relationship - second charge lender

Has anybody ever considered the thought that subprime lenders might be pulling off the biggest insurance scam ever?

[figaro123]

Re: Unfair relationship - second charge lender

In their statement to the court they claimed that they did not increase the interest rate, yet my monthly payments went up. How can this be ?

The reason they said this in their statement was because I brought up the variable interest where the rate goes up but does not come down, in line with Bank of Scotland interest rates

[Amethyst]

Re: Unfair relationship - second charge lender

£3000 commission on a £700 PPI sale ?

http://www.consumeractiongroup.co.uk...ed-commissions...

[figaro123]

Re: Unfair relationship - second charge lender

I paid 3700 to blemain for payment protection, they claim they gave direct group 700 and kept 3000 as a commission. Unbelievable I know but true

[Sickofbullies]

Re: Unfair relationship - second charge lender

Greedy