Hi Everyone Ref; Blemain Finance

[BigZ]

Hi, I was persuaded by my broker to take out a secured loan with Blemain Finance when my business was in trouble in 2010 and foolishly I did, since I took out the loan I have managed to pay £4,500 off the original sum of £11,000 but still owe over £12,000???

My business has now ceased trading and I am only working 16 hrs per week and claiming working tax credit while looking for another job so as you can imagine I have fallen behind with my loan payments, I am now concerned that Blemain will come after my family home.

Can anyone advise on this?

Kind Regards
Z

[Ruby]

Re: Hi Everyone Ref; Blemain Finance

Hi BigZ, sorry I can't be any practical help to you however I am sure if you looked at other posts on this site you would realise just in what sort of trouble this cowboy organisation are in and how they treat their customers. I hope others on this site will be of more practical help. I would suggest you start by first examining your credit agreement with a fine tooth comb.

[figaro123]

Re: Hi Everyone Ref; Blemain Finance

First step is to request a subject access request

[suffering]

Re: Hi Everyone Ref; Blemain Finance

Hi bigZ you say that you took a loan out while your business was in trouble
did they carry out enough checks to see if you could afford the repayments or did they lend irresponsibly as i believe this company are happy to lend recklessly with a veiw to getting their hands on the equity from vulnerable people. Was this a regulated loan if so you have more rights

[figaro123]

Re: Hi Everyone Ref; Blemain Finance

ask to see the application form

[BigZ]

Re: Hi Everyone Ref; Blemain Finance

Hi Suffering, It was very easy to get the loan, my financial advisor just went through some forms with me and a few days later the loan was mine. Not sure what you mean by regulated, how can i tell?

[BigZ]

Re: Hi Everyone Ref; Blemain Finance

First step is to request a subject access request

Hi Figaro, sorry if I apear stupid but what will this tell me and how will it help?
Thanks
Z

[figaro123]

Re: Hi Everyone Ref; Blemain Finance

The application form will tell you if they properly assessed your ability to pay

[jimmyq]

Re: Hi Everyone Ref; Blemain Finance

ive got the same issue mate they are an absolute nightmare

[BigZ]

Re: Hi Everyone Ref; Blemain Finance

Hi, I was persuaded by my broker to take out a secured loan with Blemain Finance when my business was in trouble in 2010 and foolishly I did, since I took out the loan I have managed to pay £4,500 off the original sum of £11,000 but still owe over £12,000???

My business has now ceased trading and I am only working 16 hrs per week and claiming working tax credit while looking for another job so as you can imagine I have fallen behind with my loan payments, I am now concerned that Blemain will come after my family home.

Can anyone advise on this?

Kind Regards
Z

Just had a statement from blemain and it would appear I still owe them over £23,000 after paying £4,500 off an £11,000 loan, going to get all my figures sorted now and start attacking them...grrr :rant:

[lachiemhor]

Re: Hi Everyone Ref; Blemain Finance

The area with Blemain is a minefiled. YOu need a good Solicitor experienced in handling Blemain cases. In further posts on this forum a firm called Stephensons had some success with Blemain in the case of Bleman v Ridley. I'd defer to them.

[figaro123]

Re: Hi Everyone Ref; Blemain Finance

How are things progressing