Blemain Finance Loan

[mrrad]

Hello, New here, I need some advice about a £6000 car loan that my ex-wife had with Blemain . She has paid all 60 payments and
now a year later they want over 800 pounds for early redemption.!.. She has paid 60 x £ 158.22. She has received a letter asking for £835.48 redemption and admin. fee made up of £ 681 fee, 124.48 additional interest and £30 costs. The last payment that was taken out from her bank was £158.22 last nov. 07 ....Thanks in advance for any help ,,,, Lenny..................................

[Paule]

Re: Blemain Car Loan

Hi There
Do you have a copy of the original agreement?

[mrrad]

Re: Blemain Car Loan

Yes she does , its not in front of me at the moment ...........Lenny

[Paule]

Re: Blemain Car Loan

If you scan it and post it up (remove personal details first, then we can have a look.

Some loans do have an arrangement fee, but different companies deal with them differently.
Some are up fornt, so are spread out with your payments, some are a final payment.

For it to be a legitate fee, it must be on the original docs.

Has she had no contact whatsoever from them in the last year?

[mrrad]

Re: Blemain Car Loan

I'm getting my son to scan it in soon and I will post it, as far as I can make out she hasn't heard from them except of a few times they called asking if she wanted another loan. I think she was looking elsewhere for a loan and was told that her credit worthiness was not clear. She mentioned this to Blemain when they were trying to give her another loan and this all kicked off.. Ill try and post the agreement asap........ Thanks for your help Lenny

[Paule]

Re: Blemain Car Loan

no probs,
and if you have any trouble posting the docs or removing details give me a shout

PKea

[enaid]

Re: Blemain Car Loan

Just popping in to say Welcome to Beagles mrrad, as you are being helped already with your problem all seems ok. If you do need any help with anything else, or about the forum give a shout Enaid x

[mrrad]

Re: Blemain Car Loan

Thanks Enaid ! PKea, hope to have the scans posted later on ..... Lenny.........

[mrrad]

Re: Blemain Car Loan

Here are the scans. The letter asking for £ 835.48

And 3 pages of the original agreement

[Paule]

Re: Blemain Car Loan

I will have a read through this later,
but at first glance this is/was a Secured Loan on the property and not a car loan (although that may be the purpose for the loan).

It may that the fees they are asking is to release thier charge on the property, as there are admin fees stated on the agreement, but havent had chance to go through what they relate to, and how/when they are paid

PKea

[mrrad]

Re: Blemain Car Loan

Yes it is on the property but she used it for a car, I wasn't quite sure where to post this thread. Anyway she thought she had paid off the loan and they never contacted her for a year until she brought it up. I don't understand how it can be early redemption if all the payments are made on time , do they think the charge should be on the house for ever ? I would of never thought that this would be legal in my wildest dreams, she might have to get another loan to pay off the 800 odd quid now ... this looks like the loan from hell ... Thanks and Ill see what transpires ...Lenny...............

[Paule]

Re: Blemain Car Loan

Lenny I will move this thread to a better forum to get more advice
I will also amend the title too.

I am having a read through the docs you posted up this evening

PKea

[Paule]

Re: Blemain Finance Loan

The only fee I can see that is due to be payable upon completion is £286.

There are no dates on any of the docs either, can you confirm date of first payment.

I think in the first instance you need to write to them and ask what the 'Redemption administation fee' relates to, as the loan is fully paid.
Ask where in the contract is reference to this.

Can you also clarify what lead to this letter in the first place.
Can you also clarify whether any payment s were late or missed during the course of the agreement.

PKea

[mrrad]

Re: Blemain Finance Loan

Hi, This is the only dated part of the agreement , it is a copy of one of the others that I posted before so was overlooked,,, She has written a letter already asking for a breakdown and explanation. As far as I can tell the first payment was on nov. 02 and ran without a break or late payment straight from the bank until nov. 07 . She did not hear anything from them and assumed this loan was finished , except a few times when they called asking her if she wanted a further loan. During this time she approached another lender and was told by them that she wasn't cleared yet from Blemain. when Blemain called yet again trying to sell her another loan she mentioned this and was given another number to ring. They gave her different excuses and quoted differing amounts and then refused to talk anymore over the phone and said they would write to her. So it looks like she would not have received this letter if she didn't phone them in the first place.... Regards Lenny................................

[natweststaffmember]

Re: Blemain Finance Loan

A dirty great BUMPEROONEY on this one.