Paid Settlement Figure - but still o money!!!

kelrick

Wonder if anyone could help?

i got myself a new car, so before i could trade my old one in i had to phone Blackhorse and get a settlement figure.
which i got, then 2weeks later i got my new car and the garage paid the figure.....
now i have got a letter from Blackhorse saying i still o them money!!
quote - 'The settlement figure we quoted assumed that your most recent direct debit would clear'

why the hell would i ask for a settlement figure and still pay a monthly payment?

now my problem is, i have a new car, new payments, and no money to pay the old payment!!!
and as normal when you phone them thy arnt every helpfuly.

any sugestions?

[Deleted User]

a settlement figure would normally only be valid for 28 days and would assume any payments due would be made

Tubbss

Hi

Any settlement figure is quoted in "real time" and is calculated based on the presumption that any recent payments clear. This is normal practice!

When blackhorse or any finance company issue a settlement figure the debtor is under no obligation to actually settle and many people ask for settlement figures for info only. Speak to Blackhorse and try and agree a plan to pay the missing payment over a couple of months, but please note, that until the account is settled the old account and balance (including possible late payment or reduced payment markers for the missing payment) will be showing on your credit file.

kelrick

Tubbss wrote: »

Hi

Any settlement figure is quoted in "real time" and is calculated based on the presumption that any recent payments clear. This is normal practice!

When blackhorse or any finance company issue a settlement figure the debtor is under no obligation to actually settle and many people ask for settlement figures for info only. Speak to Blackhorse and try and agree a plan to pay the missing payment over a couple of months, but please note, that until the account is settled the old account and balance (including possible late payment or reduced payment markers for the missing payment) will be showing on your credit file.

once i received a letter from blackhorse i contacted the garage and thy confirmed payment, then i contacted blackhorse again and thy confermed the settlement has been paid but still o money!!!!

Tubbss

Hi
Was the setlement figure still in date when Blachorse sent the payment?
Did you have a payment returned (bounced) on the account after the settlement figure had been issued?

kelrick

Tubbss wrote: »

Hi
Was the setlement figure still in date when Blachorse sent the payment?
Did you have a payment returned (bounced) on the account after the settlement figure had been issued?

what do you mean?
2weeks after phoning for the figure, i got the car and signed the paper work at the garage, so i would still have 2weeks of that figure for the garage to payit? plus i had to get the garage to chase up the fax with the figure so i can get the car.

the_insider

Did you pay the last payment that was due within the 28 days between the figure being given and the payment being made? If not, the payment was short by that amount.

kelrick

the_insider wrote: »

Did you pay the last payment that was due within the 28 days between the figure being given and the payment being made? If not, the payment was short by that amount.

payments where at the end of the month and i phone for the figure at the beginning of the month.
i never got told or any letter stating that!

Tubbss

hi

You got the car with a settlement figure that was 2 weeks old. When did the garage send the settlement payment to Blackhorse? If there was a delay in them sending the payment to blackhorse then the settlement may have expired - hence the shortfall.

Ask blackhorse whatthe settlement figure was, what was the exoiry date and when did they receive the payment from the garage. If they received it even 1 day after the expiry of the settlement fig then there will be a balance outstanding - if the payment was sent late by the garage ask them to assist!

masterlumps

is the amount outstanding equal to the regular monthly payment you had been making?

The_Helper_2

Tubbss wrote: »

Hi
Was the setlement figure still in date when Blachorse sent the payment?
Did you have a payment returned (bounced) on the account after the settlement figure had been issued?

This is the most likely cause. For example if a payment leaves your account on the 10th august and you request a settlement figure on the 11th this settlement is valid on the basis this payment is made. However, if the payment returns due to lack of funds or most commonly because you cancelled the DD before the payment cleared this is owed by you.

Ask Black Horse for a statement of your account and this will show clearly. My advice would be stump up now to protect your credit file and if by the slim chance you are right, claim the money back.
:A