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Happy Christmas, I’m new to the Forum, Just wanted to share my experience with Blemain and hope someone can suggest some options, I will briefly explain my situation.
I took out a loan in 2010 for £29500, With the fees the opening balance was £33815.00. After paying 22 monthly payments totalling £8300.00, I enquired to them enquiring why I have not received any loan statements and was advised its not something they normally send out but has to be requested.
I then requested my redemption figure and to my surprise my loan has somehow gone up even though I am on a repayment loan.
Anyway the figures quoted by them
Balance outstanding £34,241.80
Redemption Admin fee £195.00
Early repayment £2705.20 8%
Total £37142.00
Now the early redemption figure I knew is quite high and at the time I needed the cash so did not query this.
But what gets me is I don’t understand why my loan has not reduced, They have sent me a statement of my payments and something called Acturial Interest which changes every month.
Any advise will be greatly appreciated.
I took out a loan in 2010 for £29500, With the fees the opening balance was £33815.00. After paying 22 monthly payments totalling £8300.00, I enquired to them enquiring why I have not received any loan statements and was advised its not something they normally send out but has to be requested.
I then requested my redemption figure and to my surprise my loan has somehow gone up even though I am on a repayment loan.
Anyway the figures quoted by them
Balance outstanding £34,241.80
Redemption Admin fee £195.00
Early repayment £2705.20 8%
Total £37142.00
Now the early redemption figure I knew is quite high and at the time I needed the cash so did not query this.
But what gets me is I don’t understand why my loan has not reduced, They have sent me a statement of my payments and something called Acturial Interest which changes every month.
Any advise will be greatly appreciated.
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