Lloyds TSB BLACKHORSE FINANCE IS A FRAUD!!

n_s_2

I strongly advise anyone who wants to finance a car with Lloyds TSB Blackhorse Finance, my friend was 18 years old back in july 2008 and was mis-sold a £6000 car, they first offered him a deal for £99 but after months of delays in my friend getting his driving license.. the RENAULT CAR DEALER kicked up the monthly price to £180 but agreed to £150. They offered him £50 worth of petrol every month if he took the deal which he thought was too good to be true, no other dealer does that do they?

On the day of signing the deal in july 2008, renault didnt do even a 100% finance or employment check on my friend to see whether he was financially able to afford it! He only just got a low paying job but renault didnt seem to check salary details or approve his employment first, they were too quick to snap up the deal and collect their commissions.

He recently had to join a debt management company which he thought was able to help him refinance his debts! NO!!! Instead they paid themselves fees of up to £30 a month.. a fraction of payments were getting through to 1 of his other creditors on a regular monthly basis but recently found out, his car finance company - blackhorse hadn't recieved payments since december 2008 until now .. March 2009! His car agreement was terminated last friday and without telling him first, repossessed his car! They should at least notifiy you before trespassing on your property and it had all his possesstions and university work in the boot! IS that allowed ?? They did post him a scrappy letter of the termination and recovery but it's left him distraught, angry and unable to do anything. Even if he recovers his belongings, they will auction off the car to pay off the arrears and still bill him £1000-£2000 at the end!?

He doesnt have internet so I'm writing it for him on here, if anyone has help or advice, please let me know urgently!
Just a warning to anyone who deals with Blackhorse Finance - ''Aaron Williams'' - (hes the Asset Recovery Co-ordinator) He needs to be relieved of his job!!!! :mad: He doesnt know how to handle a phone call, an incredibly rude vile man who puts the phone down if you ask to speak to his manager!! I've tried searching for the contact number of Lloyds TSB Chairman or Finance Director, no luck! Theres no possible way of making a complaint to the senior staff / Directors. IF anyone knows a way, share it with us! I complained to the Financial Ombudsman and hes sending out a complaint letter to all companies involved. I've just realised my friend has been MIS-SOLD with ALL THESE COMPANIES, are there any banks or lenders who deals business honestly and responsibly.. they are just soo hungry and desperate for money.

Thanks.

robin_banks

I smell a troll

ILW

robin_banks wrote: »

I smell a troll

Or to be generous the OPs "friend" is just a complete moron. "Give me the nice shiny car, where do I sign?"

~Brock~

Taking out the obvious emotion that your post contains, it would seem that your (friend's) frustration is not only with Black Horse, but also the Renault dealer and also an unnamed debt management company.

If this is the case, I would suggest a slightly different title to the thread, as apart from being potentially libellous, it does not appear to correctly reflect the content.

I'm not sure where the current vogue for claiming that finance has been mis-sold has come from, because i would assume that your friend was aware of the monthly repayments he was being committed to at the time he signed the documents? If he wasn't then, apart from being very naive, he may have genuine cause for complaint.

The sale of finance is not regulated by the FSA in the same manner as insurances. The law was changed in 2005 to ensure that pre-contract information is given to customers prior to signing, to ensure that they have a chance to read the paperwork before committing themselves. Unfortunately, many people are so eager to get there hands on the car that they sign anything that is put in front of them. Whether that is mis-selling as such is probably open to debate. There is no doubt that your friend is/was very young, but the law classes him as an adult and therefore responsible for his own decisions.

Regarding the debt management comapny, if the loan was secured on the vehicle, then this should have been regarded as a priority debt by both your friend and the debt management company. If no, or very little, money was coming from them then I am not reeally surprised that they went to repossess the car. You cannot rent a car for less than £250 per month, so why should they let your friend do the same?

I'm sorry that i am probably not saying what you or your friend want to hear, but I would suggest that a number of important lessons have been learned here, which can hopefully be used to your friend's benefit in the future.

No doubt others will come along after me suggesting that he claims this or that back, but that's my starter for ten.

ILW

I got the impression from reading this forum that virtually ALL loans were miss sold and nobody really expects to have to pay them back. Wonder if the dealer is still giving the OPs friend their £50 per months worth of petrol? If not he should sue them for it.

worried_jim

I spot a muppet.

ILW

worried_jim wrote: »

I spot a muppet.

Me or the OP?

lesley1960

ILW wrote: »

I got the impression from reading this forum that virtually ALL loans were miss sold and nobody really expects to have to pay them back. Wonder if the dealer is still giving the OPs friend their £50 per months worth of petrol? If not he should sue them for it.

Its amazing how many people dont know that lol;)

ILW

n_s wrote: »

He recently had to join a debt management company which he thought was able to help him refinance his debts! NO!!! Instead they paid themselves fees of up to £30 a month.. a fraction of payments were getting through to 1 of his other creditors on a regular monthly basis but recently found out, his car finance company - blackhorse hadn't recieved payments since december 2008 until now .. March 2009! His car agreement was terminated last friday and without telling him first, repossessed his car! They should at least notifiy you before trespassing on your property and it had all his possesstions and university work in the boot! IS that allowed ?? They did post him a scrappy letter of the termination and recovery but it's left him distraught, angry and unable to do anything. Even if he recovers his belongings, they will auction off the car to pay off the arrears and still bill him £1000-£2000 at the end!?

.

So now I know what they mean when they say graduate calibre

ILW

lesley1960 wrote: »

Its amazing how many people dont know that lol;)

Its de law.

~Brock~

Today we mourn the passing of a beloved old friend, Common Sense, who has been with us for many years. No one knows for sure how old he was, since his birth records were long ago lost in bureaucratic red tape. He will be remembered as having cultivated such valuable lessons as:
- Knowing when to come in out of the rain;
- Why the early bird gets the worm;
- Life isn't always fair;
- and maybe it was my fault.

Common Sense lived by simple, sound financial policies (don't spend more than you can earn) and reliable strategies (adults, not children, are in charge).
His health began to deteriorate rapidly when well-intentioned but overbearing regulations were set in place. Reports of a 6-year-old boy charged with sexual harassment for kissing a classmate; teens suspended from school for using mouthwash after lunch; and a teacher fired for reprimanding an unruly student, only worsened his condition.

Common Sense lost ground when parents attacked teachers for doing the job that they themselves had failed to do in disciplining their unruly children.

It declined even further when schools were required to get parental consent to administer sun lotion or an aspirin to a student; but could not inform parents when a student became pregnant and wanted to have an abortion.

Common Sense lost the will to live as the churches became businesses; and criminals received better treatment than their victims.

Common Sense took a beating when you couldn't defend yourself from a burglar in your own home and the burglar could sue you for assault.

Common Sense finally gave up the will to live, after a woman failed to realize that a steaming cup of coffee was hot. She spilled a little in her lap, and was promptly awarded a huge settlement.

Common Sense was preceded in death, by his parents, Truth and Trust, by his wife, Discretion, by his daughter, Responsibility, and by his son, Reason.

He is survived by his 4 stepbrothers;
I Know My Rights
I Want It Now
Someone Else Is To Blame
I'm A Victim :rolleyes: