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I took out a secured loan with Black Horse in 2010 for £10,000 on a sixty month term. I missed a couple of payments a few years ago but brought them back up to date within 2 months and at the time they agreed to the repayment plan. However, when I asked for statement of account last year, as I have never had any, they had added an extra six months onto the agreement without my knowledge. When I complained about it and asked why this had happened,they said it had been put on when I missed the payments and that I had agreed to the extension. So, this added nearly £2k to the loan. I asked them to listen to the call that I made about the late payments. as I had never agreed to this and also had no paperwork to go with this action. In the end they agreed that I had never discussed the extension and removed the extra months. That was in 2013. Again after asking for a statement of account, still no getting this. It showed as still owing over £7250, when I queried it, it seems that they are adding interest to the account monthly, which,I did not know was the case, as I would never have signed had I known. Also, on my credit file it shows as under another a different company, I was never told of any company move. Also, again on my credit file, it shows as being late payments by six months for well over a year. Surely none of the above can be right, help me end this nightmare please.
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Re: Black Horse secured loan
What name is showing on your credit file? It may be Hillesden or dlc who bought loads of Black Horse Loans recently.Originally posted by steuts View Post
Do you have the original loan agreement to check the interest which should be charged?
How did you take out the original loan? If it was a secured loan this may have been done through a broker.
Sorry for all the questions but the more we know the better we can help
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Re: Black Horse secured loan
Hi, name on credit file is Lloyds Banking group, Asset Finance.
I don't have a copy of the original credit agreement and loan taken over phone, all paper work signed and sent back.Comment
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Re: Black Horse secured loan
It would make sense to ask for a copy of your original agreement so you can see the terms & conditions relating to interest etc. I see no reason to send a s.78 request to get this information since this won't be unenforceable (the loan's from 2010) so maybe a polite letter expressing your concern at the current situation which is why you'd like to check over the paperwork. I would also ask them for a statement of the account from inception which will show you all interest charged and all payments made etc. Once you've got that as a starting point you may need to do a SAR but save that £10 for a later date.
Just because it's not going to be UE in our terms, that doesn't mean they are getting their calculations right.
Was there any PPI on this loan?
Are your payments up-to-date since this is a secured loan and I wouldn't want them to pounce on you expectantly.Comment
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