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  • FIRST POST
    • lil_ali
    • By lil_ali 19th Apr 17, 10:01 AM
    • 8Posts
    • 0Thanks
    lil_ali
    Skye Loans
    • #1
    • 19th Apr 17, 10:01 AM
    Skye Loans 19th Apr 17 at 10:01 AM
    Hi I'm after some advice please. I took out a loan with black horse in 2006 which was for 120 months. I this loan was sold by BH to Skye Loans in 2015 a letter was issued advising us of this and other than a couple of months payment break at the beginning, payments have been made on time every month.

    I contacted Skye Loans last year to ask when it was due to finish and was told by a very pleasant chap that the last payment would be March 2017. I checked the account are the beginning of April when it was due and it wasn't taken and no request had been made for it, so stupidly I assumed that it was finished!! How wrong I was. I received a letter yesterday saying that I was in arrears even though no request had been made for payment and no letter received before this one to advise of the so called arrears.

    I checked my credit file last week as I had planned on applying for a remortgage and it was fine there was no record of an active Skye account on my file, however I signed up to experian last night to find that my rating had dropped from over 700 to 161 and Skye Loans have logged that we are behind with payments by 6 months!! Help I'm gobsmacked and unsure as to what to do or where to turn. I'm not in arrears so I don't know where this has come from. I'm worried about phoning them as comments on other sites are less than favourable about their customer service and alleged bullying tactics. I've registered with resolver so that I can record the call.

    Any advice would be gratefully received
Page 1
    • zx81
    • By zx81 19th Apr 17, 10:04 AM
    • 11,586 Posts
    • 11,581 Thanks
    zx81
    • #2
    • 19th Apr 17, 10:04 AM
    • #2
    • 19th Apr 17, 10:04 AM
    You need to contact them,whether you want to or not.

    Only they have the answers.
    • StopIt
    • By StopIt 19th Apr 17, 10:07 AM
    • 336 Posts
    • 272 Thanks
    StopIt
    • #3
    • 19th Apr 17, 10:07 AM
    • #3
    • 19th Apr 17, 10:07 AM
    If you're worried about phoning them, write to them asking for a full statement of account.


    Also if you've been paying the contracted amount each month they cannot say you're 6 months behind! How much arrears did the letter say you were in?


    If the account has been settled, or is close enough to do so, get that sorted then ask them to remove the 6 month flags from your credit history.
    • mrmagooooooo
    • By mrmagooooooo 19th Apr 17, 10:13 AM
    • 91 Posts
    • 66 Thanks
    mrmagooooooo
    • #4
    • 19th Apr 17, 10:13 AM
    • #4
    • 19th Apr 17, 10:13 AM
    You need to phone them. I couldnt care a less what their customer service is like, if i was in the same situation id be on the phone to them trying to sort it out. Nobody on here is going to be able to resolve this for you or give you any answers.

    Get on the phone and see what they say. If you dont get anywhere ask to speak to a manager. If you still dont get anywhere put your complaint in writing.
    • lil_ali
    • By lil_ali 19th Apr 17, 10:14 AM
    • 8 Posts
    • 0 Thanks
    lil_ali
    • #5
    • 19th Apr 17, 10:14 AM
    • #5
    • 19th Apr 17, 10:14 AM
    Thanks for your replies. The letter was a statement of arrears which detailed the March payment and then underneath was another instalm3nt figure of over 1500 and detailed below that are charges which amount to more than the monthly payment. The alleged arrears now total over 1800!
    • StopIt
    • By StopIt 19th Apr 17, 10:27 AM
    • 336 Posts
    • 272 Thanks
    StopIt
    • #6
    • 19th Apr 17, 10:27 AM
    • #6
    • 19th Apr 17, 10:27 AM
    Thanks for your replies. The letter was a statement of arrears which detailed the March payment and then underneath was another instalm3nt figure of over 1500 and detailed below that are charges which amount to more than the monthly payment. The alleged arrears now total over 1800!
    Originally posted by lil_ali

    OK, so you need to find out where these arrears have arisen from.


    Contact them and ask for a full statement of account. Is it possible you've been placed on an Arrangement to Pay and not actually paying the contracted sum? It may not even be your fault considering the loan was sold on and maybe the figures didn't add up correctly.


    Either way, you need to know exactly what' gone on and you wont know that unless if you get in contact. Call or write to them but you must get in contact.
    • lil_ali
    • By lil_ali 19th Apr 17, 10:32 AM
    • 8 Posts
    • 0 Thanks
    lil_ali
    • #7
    • 19th Apr 17, 10:32 AM
    • #7
    • 19th Apr 17, 10:32 AM
    Thanks ever so much. No arrangement to pay we claimed a few years ago for ppu and received it back the paymb5was recalculated accordingly and have paid this amount ever since with no kissed payments. I'll ring them today and if I have no luck I'll raise a formal complaint.

    Thanks again oh I'm new to this so don't know how to thank everyone so I'll just say it... thanks for your advice.
    • Heather2603
    • By Heather2603 19th Apr 17, 10:42 AM
    • 64 Posts
    • 80 Thanks
    Heather2603
    • #8
    • 19th Apr 17, 10:42 AM
    • #8
    • 19th Apr 17, 10:42 AM
    Do you have your original paperwork? I know when I had car finance through Black Horse I had a big payment at the start and end. Think it was either 2 or 3 x the normal payment amount
    • lil_ali
    • By lil_ali 19th Apr 17, 10:51 AM
    • 8 Posts
    • 0 Thanks
    lil_ali
    • #9
    • 19th Apr 17, 10:51 AM
    • #9
    • 19th Apr 17, 10:51 AM
    I do and no large payment at the beginning or the end to total that amount it would have to be around 8 or 9 times the monthly amount it doesn't add up at all.
    • StopIt
    • By StopIt 19th Apr 17, 11:12 AM
    • 336 Posts
    • 272 Thanks
    StopIt
    I do and no large payment at the beginning or the end to total that amount it would have to be around 8 or 9 times the monthly amount it doesn't add up at all.
    Originally posted by lil_ali
    This is why it is vital for a full statement so you can find out where this issue lies and correct it. If they've got to the wrong figure you can dispute this having the full information to hand. If you're actually owing monies then you can arrange to sort it.


    Bite the bullet, hopefully you can get a decent outcome
    • lil_ali
    • By lil_ali 19th Apr 17, 11:16 AM
    • 8 Posts
    • 0 Thanks
    lil_ali
    Thanks again StopIt I'll bite the bullet and ring them after work. Fingers crossed!
    • lil_ali
    • By lil_ali 20th Apr 17, 12:40 PM
    • 8 Posts
    • 0 Thanks
    lil_ali
    Quick update I rang them really pleasant conversation turns out that the outstanding amount is interest from late payments at the beginning of the term back in 2006. The extra months that were paid haven't been enough to cover it! I was told that when the loan started the first payment wasn't due until a month after which accrued over 200 interest this was more than the monthly payment.

    As suggested I've requested a statement of the full account which is being sent in the next few days. Not sure where to go from here. Thankfully the arrears don't include interest and once it's paid or I've made an arrangement to pay it they'll update my credit file. Unfortunately it's scuppered any chance of getting a remortgage at the moment.

    I do think the interest is excessive but I'm not sure I have a leg to stand on to be honest.

    Any advice at all?
    • mrmagooooooo
    • By mrmagooooooo 20th Apr 17, 2:33 PM
    • 91 Posts
    • 66 Thanks
    mrmagooooooo
    Best thing to do is when you get the statement post what it says here. The guys on here will have a look through it and be able to give you their opinions on if they are right or wrong and where to go next.
    • StopIt
    • By StopIt 20th Apr 17, 2:35 PM
    • 336 Posts
    • 272 Thanks
    StopIt
    Alas not really. If you miss a payment, interest (and charges) gets charged on the balance outstanding and you either need to pay that off ASAP, or if you continue paying the "normal" monthly amount, pay for longer.


    Surely you would have had statements from Black Horse before this loan was sold on? If not, Skye Loans haven't done anything wrong, but they may have.
    • lil_ali
    • By lil_ali 20th Apr 17, 3:04 PM
    • 8 Posts
    • 0 Thanks
    lil_ali
    We would have had statements however I stupidly haven't noticed the charges etc. My own fault I'll wait to get the statement and post a copy on here. How do I do that? Thanks again for your help.
    • StopIt
    • By StopIt 20th Apr 17, 3:19 PM
    • 336 Posts
    • 272 Thanks
    StopIt
    We would have had statements however I stupidly haven't noticed the charges etc. My own fault I'll wait to get the statement and post a copy on here. How do I do that? Thanks again for your help.
    Originally posted by lil_ali
    You can scan/take a picture and use the link facility in the main posting window.


    I'd imagine the statements will line up with the late/missed payments but you never know.
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