Blemain Finance Now Together charges on secured loan help please Jellytott

#1
I had a loan from blemain now together company in 2008 for 144 months , after having a conversation with a young lad he explained all the charges were liable for interest...so are they making a profit on these horrible charges as well?



Here is a selection...from a 10k loan has now got 6.3k of charges on ....i have however had a pretty crap time with jobs unemployment and a divorce which took 3 years so yes there will be charges but now they are over half the original loan...and i dont see any light at the end of the tunnel here..



letter costs £30.00 /£35 /

Monthly arrears charge £33 - £46.00

phone call charges ££35.00 a call

buildings insurance about 700 a year have sent them copies in the past...!!!!! (they have still charged and said not had this)



One home visit....once (but twice charged) £120 and never asked for them to do this in the first place.



They are offering to reduce these by 1092.25

I do not feel that these charges on a monthly payment of 177.00 are within a fair amount more than half sometimes consists of charges on top of the payment so i am not paying this off at all.



Does anyone have any advice please

I have full list of costs and charges and a breakdown of payments which i didn't have to pay for.



Many Thanks

#2
If all the fees were added to the original loan then yes you would be paying interest on them from day 1, however that should have been explained to you.



You mention an arrears charge, are you currently in arrears on the loan or heading that way?

#3



letter costs £30.00 /£35 /

Monthly arrears charge £33 - £46.00

phone call charges ££35.00 a call
Originally posted by Jellytott


Well 20% of the charge will be accounted for in VAT. So £30 for a letter becomes £25 net. As £5 is paid over to the Treasury.



The £25 then has to cover all the business overheads, i.e. staff costs, rent and rates, utilties, insurance, etc etc.



Think of buying a cup of coffee in Costa. Ingredients are less than 10 pence. The remainder is made up of other costs and taxes.

#5
no i need to dig out all the original paperwork , they bullied me a lot in the past , didnt turn up to court once and threatened me to reposess every single time i called them once to the point i told the person to get a senior manager on the phone...oh and guess what they had no managers available...

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