Blemain Finance repossession Unfair relationship Unfair charges

[figaro123]

Re: Blemain Finance repossession Unfair relationship Unfair charges

we all learn so much from you

[welshperson]

Re: Blemain Finance repossession Unfair relationship Unfair charges

1. Thats some mighty info there wp.....excellent. I have been reading the OFT guidelines in 2006 below and want to know if this topic could be expanded may it make a big difference or something to add against Blemain and their unfair practices?

Especially this part:

Charging for debt collection



2.9 Charges should not be levied unfairly. (Agree)

In the case of Castaneda and Others v. Clydebank Engineering and Shipbuilding Co., Ltd. (1904) 12 SLT 498 the House of Lords held that a contractual party can only recover damages for actual or liquidated losses incurred from a breach of contract as oppose to a charge which represents a penalty. This law was confirmed and upheld in Dunlop Pneumatic Tyre Co Ltd v New Garage and Motor Co Ltd [1915] AC 79. A charge will be held to be a penalty if the sum stipulated for is extravagant and unconscionable in amount in comparison to the greatest loss that could conceivably be proved to have followed from the breach. A penalty clause is void in its entirety and unenforceable.

In addition your charges appear to represent an unfair term of contract, which is contrary to the Unfair Terms in Consumer Contracts Regulations 1999 (SI. 1999/2083). My account falls within the ambit of Regulation 5 of the Unfair Terms in Consumer Contracts Regulations1999, as we are consumers. Your charges constitute an unfair penalty under Schedule 2 of the said Regulations, which provide an indicative and non-exhaustive list of terms, which may be regarded as unfair. Under paragraph 1(e) of schedule2 this specifically includes terms, which have the object of requiring any consumer who fails his obligation to pay a disproportionately high sum in compensation.



2.10 Examples of unfair practices are as follows:



�.a. claiming collection costs from a debtor in the absence of express contractual or other legal provision (Now does that mean that Blemain agreements MUST state in their contract regulated or not that they will charge a £35 fee/penalty if we go in to arrears..or default? I know Blemain always defer people to their tariff of charges, but the info the OFT has given states that it must be contained in the contract itself?)
My agreement states how much they charge for phone and letters on the front page, if your agreement doesn’t mention charges anywhere in the agreement or in the terms and conditions then I think you are right. But I think they will have something in the agreement somewhere that says they can charge you.





�.b. misleading debtors into believing they are legally liable to pay collection charges when this is not the case, for example, when there is no contractual provision (Again this would coincide with the above? as Blemain do not tell a single soul prior to signing the loan or giving you funds anything about the £35 charges they would add...or did they advise anyone about this?)
CCA regulated agrements have charges listed on front page



�.c. not giving an indication in credit agreements of the amount of any charges payable on default ( I understand this statement that the amount of charges payable in case of default MUST be written in the loan agreements?)
I think tou have a point, but what rules or regulations say they MUST ?



�.d. applying unreasonable charges, for example, charges not based on actual and necessary costs
Look at monarch recoveries costs for phone calles and letters it shows how much they profit from their unfair charges.
2009 cost of debt collection activities for monarch is £600,000 and their profit was £9,000,000



�.e. applying charges which are disproportionate to the main debt. (This is exactly what they do....add charge after charge after charge after charge......inflating the main debt to Mars)
don’t forget insurance and legal charges added to your account just as much a scam as all the other charges.


Any thoughts on this from people.....and hope I have not muddied the waters by asking so many questions? Lots but it makes my blood presure go up so I try not to think about it to often.

[jumper999]

Re: Blemain Finance repossession Unfair relationship Unfair charges

Thats some mighty info there wp.....excellent. I have been reading the OFT guidelines in 2006 below and want to know if this topic could be expanded may it make a big difference or something to add against Blemain and their unfair practices?

Especially this part:

Charging for debt collection



2.9 Charges should not be levied unfairly. (Agree)



2.10 Examples of unfair practices are as follows:



�.a. claiming collection costs from a debtor in the absence of express contractual or other legal provision (Now does that mean that Blemain agreements MUST state in their contract regulated or not that they will charge a £35 fee/penalty if we go in to arrears..or default? I know Blemain always defer people to their tariff of charges, but the info the OFT has given states that it must be contained in the contract itself?)



�.b. misleading debtors into believing they are legally liable to pay collection charges when this is not the case, for example, when there is no contractual provision (Again this would coincide with the above? as Blemain do not tell a single soul prior to signing the loan or giving you funds anything about the £35 charges they would add...or did they advise anyone about this?)



�.c. not giving an indication in credit agreements of the amount of any charges payable on default ( I understand this statement that the amount of charges payable in case of default MUST be written in the loan agreements?)



�.d. applying unreasonable charges, for example, charges not based on actual and necessary costs



�.e. applying charges which are disproportionate to the main debt. (This is exactly what they do....add charge after charge after charge after charge......inflating the main debt to Mars)


Any thoughts on this from people.....and hope I have not muddied the waters by asking so many questions?

[welshperson]

Re: Blemain Finance repossession Unfair relationship Unfair charges

I have made a bold statement in my above post, so now it is time to explain and find out what is unfair about Blemains loan agreements, and what rules, regulations would apply.
So a brief look at the rules first about what is an unfair term and why it is unfair, there are a lot of guidelines about what is an unfair term, so I will post up some things I think anyone attempting to challenge an unfair term should read.

The Unfair Terms in Consumer Contracts Regulations 1999

Unfair Contract Terms Act 1977

Unfair contract terms guidance

Fairness of terms in consumer contracts

Statement of Good Practice

Standard form contract

Common law status

There is a lot more information on what is fair and what I classed as unfair, including some good case law but the information in the above will explain why something in a contract could be classed as unfair.

Below is the exact words from my agreement, and as they are basically a standard agreement then most people are going to have the same terms and conditions,

This part can be found on the first page of the agreement and under the heading and I have underlined the relevant parts. (My emphasis)

Key financial information

“If the lender varies the interest rate by notice under clause 3, it will in that notice advise the borrower of any increase in the number of monthly payments and/or of any increase or reduction in the amount of monthly repayments,

If charges payable by the borrower as set out in the key information or under clause 2 are added to the balance outstanding, the lender may, by not less than 7 days notice in writing to the borrower increase, the number of monthly repayments and/or increase or reduce the amount of the monthly repayments. If the lender dose not then the amount of the final monthly repayment will be increased to an amount sufficient to repay the balance outstanding in full.”

Now on the sane document look under the heading

Other financial information

“ The lender may vary the interest rate applying under this agreement to take account of actual or expected changes in market conditions by giving the borrower not less than seven days notice in writing of the variation, in calculating the apr no account has been taken of any variation of the interest rate.”

The above paragraphs are taken from Blemain loan agreement and what are they allowing blemain to do?

Now the implications these terms have on a borrower is that they allow blemain to charge whatever interest rate they want, and to extend the term of the agreement to as long as they want.

As an extreme example I will explain what could happen under the terms blemain have written into the agreements. Were they have given themselves the power to do anything they wish with the interest rate, and to extend the loan for as long as they want.

Example

Your intrest rate is %10, blemain say we are rasing your intrest rate to %50 your payments go up 5 times what you are paying a month, you say I cant afford to pay that much a month, they say don’t worry we will extent the time of the agrement, there is nothing in your agrement that stops blemain putting your intrest rate to a thousand % if they wanted to,and nothing to stop them extending your agrement to 100 years. This is an extream example but their terms and conditions allow it to happen.

There is another term in your agrement it can be found in a document caled mortgage conditions and it is tearn number 29.7 if you read it you will realise that your intrest rate can never come down but can go up to whatever they want.


Wp

[welshperson]

Re: Blemain Finance repossession Unfair relationship Unfair charges

If anyone has a court case ongoing with blemain then I have other information on blemain / monarch recoveries that may help but I don’t want to post it on an open forum until I have used it in court, if you have a court case going on I will give you this information just send me a PM
　
　
I think the monarch recoveries issue is out in the open and explained but if any questions or info on this point then ask,
How about we now look at the terms and conditions of blemains agreements. I really don’t think people realised what they were signing up for.

If anyone read and understood what they were signing up for and then signed the agreement with full knowledge of what you were signing then you need the help of a good psychiatrist (you may be nuts)

If like most people you just read the front page and signed the agreement in the belief that a large financial institution is not going to do anything bad to you, or there are rules and regulations that wont allow anything bad to happen to you. (this is no door to door salesman big companies don’t scam people)

The above paragraph sound familiar?

in the next few days I will show you how you signed a document that allows blemain to take every penny you earn for the rest of your life, never mind how much you earn.

Now hands up who would sign a document allowing someone to take all your monie you ever earn for the rest of your life,

If you didn’t put your hand up to the above then why did you sign a blemain loan agreement, because you were misled, coned, scammed, lied too, call it what you will but one thing is for sure it was not explained to you, there were no open and fair dealings, and you defiantly didn’t enter the agreement with your eyes wide open.

Dig out your agreements and the terms and conditions and see if they are the same as the ones I post up tomorrow.

Wp

[welshperson]

Re: Blemain Finance repossession Unfair relationship Unfair charges

Hi Figaro
Blemain don’t want to have to justify in court what they have been doing to people. Applying for a strike out is standard procedure for blemain they done that to me, and I also know of others that they have tried this with have they applied to have your claim struck out or just sent you a response to your claim stating that they reserve the right to have part or all of your claim struck out?
　
If you feel comfortable explaining why they applied for a strike out then maybe someone on here may have some good advice, if you feel it is better to keep this point quiet until after the case then that is ok.
　
If you look at the CPR rules it effectively gives the court the power to let you rectify any mistake you may have made, if they are going for a strike out on a technicality.
　
Some documents listed below and how they may help you in court.
　
Accounts and financial statements (monarch recoveries) in here is the evidence that monarch had no employees, it also states the business of M.R is debt collecting, it also shows how much profit they made out of debt collecting. In 2009 the cost of collecting debts is listed at £600,000 and the profit made after all expenses is £ 9 million.
The above document would also show that the charges were not a genuine pre estimate of there costs.
　
The judgment below is were log book loans were doing the same thing as blemain using monarch, and it was found to be such a deceitful practice that they lost their licence.
A copy of the full decision by the First-tier Tribunal can be found on their website, at the following link www.consumercreditappeals.tribunals.gov.uk/decisions.htm.
　
　
　
Case Nos. CCA/2009/0010
& CCA/2009/0011
IN THE FIRST-TIER TRIBUNAL
GENERAL REGULATORY CHAMBER
(CONSUMER CREDIT)
On appeal from: Adjudicator’s determinations 16 October 2009
Office of Fair Trading’s
Decision references: ADJ/1975 – CCA – 512966 (Nine Regions Ltd)
and ADJ/1974 – CCA – 458150 (Log Book Loans)
Dated:
BETWEEN:
Appellants: Log Book Loans Ltd
& Nine Regions Ltd (t/a Log Book Loans)
Respondent: The Office of Fair Trading
Heard at: The Employment Appeal Tribunal, Audit House
Victoria Embankment, London EC4Y 0DS


David Fisher, Director of the OFT's Consumer Credit Group said:
'The OFT welcomes the Tribunal's decision to strike out the companies' appeals. The decision confirms our view that these companies are unfit to hold their consumer credit licences. Intentionally deceiving debtors as part of a debt collection policy is an extremely serious matter, which calls into question a licensee's fitness. We expect businesses licensed by the OFT to treat all their customers, including those in arrears, fairly and transparently


　
WP

[Streetwise]

Re: Blemain Finance repossession Unfair relationship Unfair charges

Hi blemished
With regard to contacting the media, then this a good idea, but the media has no power to make blemain do anything, but if there was enough media coverage the government may take an interest and step in to do something.

As you feel this is the right way to go how about you researching and finding out if someone in the media is interested in this story ?

Ask the question if people are willing to tell their story to the media, if you get enough people willing to talk to the media then find out if someone in the media will run this story.

I for one am willing to talk to the media, if someone else organises it, I have a high court case going on with blemain and this takes all my attention, and at this point my focus is on beating them in court, (and being a man I can only focus on one task at a time)
　
A point about monarch recoveries that I think you may have missed is that not only the £250 transfer fee but also all the £35 letter and phone call charges that were made by monarch are also just as much a scam. This can bee seen as the FSA have told them they have to reimburse approximately 2000 customers at an approximate cost of £2 million that means each customer would receive approximately £1000, as they were only charged £150 transfer fee the other monies must be all the letter and phone call charges monarch added to customers accounts, also blemain have removed the name monarch from letter and phone charges on all accounts,
　
　
wp

<dan.hyde@thisismoney.co.uk>,might be interested,regards Streetwise.

[figaro123]

Re: Blemain Finance repossession Unfair relationship Unfair charges

My claim against Blemain is on the 28th March. They have applied to have it struck out. I dont think they will get it. I will keep you posted

[jumper999]

Re: Blemain Finance repossession Unfair relationship Unfair charges

I am sorry if you think I have muddied your thread but that is what forums like LB are about...somewhere where people can post their views & comments about debates in open for all to read and learn....and that is how we learn and go forward.

I would have thought any help or info against Blemain would be useful for all who read Blemain threads...and I apologise if you think I have gone off topic.

[Blem-ished]

Re: Blemain Finance repossession Unfair relationship Unfair charges

"I for one am willing to talk to the media, if someone else organises it, I have a high court case going on with blemain and this takes all my attention, and at this point my focus is on beating them in court, (and being a man I can only focus on one task at a time)"
　
That would be brilliant if you would speak to them. I will be on the case at the weekend.

By the way, does anyone know if Henry Moser, Marc Goldberg, etc, have links with political parties, or local or national politicians? Any donations to political parties?

[Blem-ished]

Re: Blemain Finance repossession Unfair relationship Unfair charges

And here's another quote from the EIG website:

Sandeman (that's the founder of EIG) said: ""The team at Auction Finance Limited are a key feature at many of the major property auctions throughout the UK and the company is known to offer a high standard of customer service together with fast funding solutions, essential for the auction market."
Essential for the auction market....houses repossessed by Moser...create the auctions, and his loans through Auction Finance Limited, are "essential" to keep the auctions going.

When is the government going to act to stop this?

[Blem-ished]

Re: Blemain Finance repossession Unfair relationship Unfair charges

Hi Jumper I'm a bit puzzled by your posts, I don't mean to be unfriendly, but they always seem to muddy the waters.

There is no need whatsoever for anybody to "prove" anything about the illegitimate use by Blemain of the name of the front company, Monarch Recoveries, to add illegitimate charges to people's accounts. There is no need to prove they are the "same". The action the FSA condemned, was that of them using an in-house company to collect payments, and charging a fee for having "transferred" borrowers to that company. As Welshperson has very clearly informed us, Monarch Recoveries was just a device. It had no staff, the people who were claiming to be employed by Monarch Recoveries, were just Blemain staff. Please don't muddy this thread any more. All the info anyone needs about this is already here, there's no good reason to question it.

2. The Moser/Jerrold web.
The more you find out, the worse it gets. For instance, the company Auction Finance, also one of the Moser companies in the same building. Auction Finance lends money to people to buy properties at auction. Auction Finance website says "

The team here at Auction Finance Limited have established long-term relationships with an extensive range of auction houses across the UK. Below is the list of auction houses which we are currently working with."

Well, what an interesting list. Most of the auction houses in the UK. And here's how it works. Auction Finance (remember, this is Moser and his crew) boast about what very close relationships they have with the auctioneers. That's the auctioneers who are selling your house, that Moser has just repossessed, at a knock down price. Auction Finance even have stalls at auctions.

And if you look on the Auction Finance Limited website you will also see this: "The Essential Information Group works with auction houses across the UK and has selected Auction Finance Limited as its preferred partner for all finance enquiries submitted, via the Essential Information Group website." EIG Group is the major supplier of information about repossessed houses for property investors. On their website, they list all repossessed houses that are coming up for auction in the UK. And if anyone enquires about a repossessed property, they get directed straight to Moser and his crew, for the financing to buy it.

What a disgusting set up. How can this possibly be allowed? Once you borrow from Blemain/Cheshire/Lancashire Mortgage Corporation, you are on a conveyor belt to have massive illegitimate charges added, harassment, repossesion, then Moser, Goldberg and crew recycle your house through auctioneers - remember they are described as "auction houses which we are currently working with" at a nice knock down price to a property investor.... funded by Moser.

Remember that in auction contracts, there is a clause that says the auction house doesn't have to accept any bid. That means they don't have to accept the best bid. They can reject any bid they want to. So what happens to people who might want to buy your property at auction, who aren't funded through the web of Auction Finance Limited/EIG? Are they going to get to buy your property, or is it the Moser-funded person who gets to buy your house?

We need a major public and/or criminal enquiry into this web of disgusting relationships, like the Rachman enquiry of the 1960s. How many "commissions" are there along this chain ?

Here is a quote from the EIG website, greedy, greedy, greedy, slavering over how much profit they can leech from vulnerable hard working people whose lives they have ruined: "Number of repossessions going to auction is up 100% on 18 months ago!

If you are looking to buy a repossession at auction, there has never been a better time to look at property auctions. With over 20% of all residential lots offered at property auctions being repossessions, the banks selling are even keener to sell. With prices as low as 60% of what the mortgagor originally paid, can you afford not to look??

Grab yourself a deal to see what repossessions are coming up at property auctions in your area."

[welshperson]

Re: Blemain Finance repossession Unfair relationship Unfair charges

Hi jumper

The FSA wont tell you anything

[welshperson]

Re: Blemain Finance repossession Unfair relationship Unfair charges

Hi blemished
With regard to contacting the media, then this a good idea, but the media has no power to make blemain do anything, but if there was enough media coverage the government may take an interest and step in to do something.

As you feel this is the right way to go how about you researching and finding out if someone in the media is interested in this story ?

Ask the question if people are willing to tell their story to the media, if you get enough people willing to talk to the media then find out if someone in the media will run this story.

I for one am willing to talk to the media, if someone else organises it, I have a high court case going on with blemain and this takes all my attention, and at this point my focus is on beating them in court, (and being a man I can only focus on one task at a time)
　
A point about monarch recoveries that I think you may have missed is that not only the £250 transfer fee but also all the £35 letter and phone call charges that were made by monarch are also just as much a scam. This can bee seen as the FSA have told them they have to reimburse approximately 2000 customers at an approximate cost of £2 million that means each customer would receive approximately £1000, as they were only charged £150 transfer fee the other monies must be all the letter and phone call charges monarch added to customers accounts, also blemain have removed the name monarch from letter and phone charges on all accounts,
　
　
wp

[jumper999]

Re: Blemain Finance repossession Unfair relationship Unfair charges

The FSA must have some good and hard evidence to prove that Monarch Recoveries & Blemain are two in one..........that is one of the reasons they fined Cheshire Mortgages.

I wonder if we could write to the FSA and ask them for the proof they have about Monarch & Blemain?