Payment Break Rip Off by blackhorse

chungus500

Hi Can anyone help????? I have had a loan with Black Horse since 2005. In November 2009 I was late with a payment, so phoned to make the payment. I was advised that If I wished, I could have a 'Payment Holiday' and at no point during this conversation, was it pointed out to me that there would be penalties. After a long conversation today (just to change my address), I have been advised that this one month payment holiday has now extended my loan by a further 5 months!!!!!!!!!!!!!!!!!:mad: How can this be fair or right???? If this was explained to me at the time, I obviously would not have agreed. Please has anyone got any advice?????? I am going to write to BlackHorse and then FSA.
Many Thanks
Kerry
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Thanks for the replies so far! Does not look good for me then! Am going to complain anyhow, as I can't believe that they can add 5 months!!!!!!!!!

Jeff_Bridges_hair

These are in the T&Cs for payment holidays and the charges and should only ever be taken if you are in desperate shortness of money.

Im not sure of their obligation to tell you about that if you request one - However someone will be along shortly to tell you so.

PNPSUKNET

it will be setout in your agreement, always remember banks give nothing

iolanthe07

Did you imagine your payment 'holiday' would be free? A combination of late payment and a payment holiday has resulted in penalties which are probably there in your Terms & Conditions.

SoundsDigital

Payment holidays usually have to be requested at least a month in advance. You may have been ill advised to put the late payment down to a payment holiday. In anycase, the payment holiday is not an interest holiday, so you would have been paying interest on the missing payment ever since.

chungus500

yeah thanks for the smart !!!! comment. I didn't imagine it to be free, just didn't imagine to get completely ripped off!!!!

NeverEnough

Chungus500, there are a lot of "smart alecs" on this board who seem to feel they need to leap in and make sarcastic and negative remarks at the first opportunity. But there are also a lot of people who are helpful and stick to the purpose of the boards as set out by Martin Lewis, and try to give helpful advice to new posters. Ignore the nastiness as it doesn't deserve a response - these sorts enjoy getting a rise out of provoking others.

The Black Horse issue is a lesson really, to read their Tand C carefully - before accepting "payment holidays" etc. You could raise a written complaint to Black Horse (they will have a complaints procedure) indicating that the "payment holiday" was misrepresented to you. Once you have their response, you could take it further if you were not happy about it. As with all these finance companies, all goes well when you pay their instalment on time every month - I had a car via Black Horse some years ago and had no issues; even requested a change of debit order date which was agreed, but the moment something unusual happens, or you miss a payment even by a few days, things start to unravel.....

Anyhow, good luck with it and let us know what the response is. If you are sure about the misrepresentation I don't see why you shouldn't make a formal complaint to them.

Apples2

I can't see any smart comments and certainly no Nastiness.

ilovebanksMCMLXXXI

Apples2 - Nice pic!

As for the thread: That does sound a bit expensive for a one-month payment holiday.

You do need to check your T&Cs before looking to take it further

Common_Sense_2

Apples2 wrote: »

I can't see any smart comments and certainly no Nastiness.

neither can I

iolanthe07

Perhaps all posters want on here are virtual cuddles and their ego massaging. Realistic observations are clearly unwelcome. Sorry.