Blackhorse Fianance Loan

nogger-01

Hi All,

I am looking for some advice I have recently just got my full statement fromBlack Horse on a finance loan I took out in 2006. After examining the statementI have come across quite a few fees that have been added e.g

Collection Activity Fee, Late Payment interest, Charges Adjustment.

The Collection Fees Total - £421.56

Late Payment Interest Total - £42.56

Charges Adjustment Total - £1235.26

The original Loan Amount was for 8949.24 with the payments I have made takenaway the above I have paid £8979.86 so have paid £30 more that I should have.

In 2007 I lost my job and was paying PPI but after trying to claim on thepolicy I was rejected. I contacted BH regarding my job situation and asked forreduced payments witch they have help me with but at no point in time have ibeen informed of the charges they have applied. The charges Adjustment was appliedin 2010.

Just wondering if the above charges can be claimed back

Any help would be appreciated



John

Tixy

Do you have the original copy of your finance agreement?
What does it state about charges?

You may need to write to them to ask for a more detailed explanation as to the charges charged.

The additional interest for late payments would be expected (and actually seems quite low if you paid reduced payments for a while).

nogger-01

i think i do still have the original agreement will check after 12 and type up what it says if it says anything.

nogger-01

Just read over the terms & Conditions and it staes the following

Late payment intrest will be payable at the interst rate above. late payment fee £25-£30 ( See Clause 8.3)

Cluse 8.3
if you fail to pay repayment shown on page one the we may charge you a fee of £25 after you have been in arears for at least 9 days and a further £25 after you have been in arears for atleast 19days if after that you remain in arrears then we may charge you a further £30 per month for each month or part month that you remain in arrears. if you pay by cheque and this is returned unpaid by your bank we may charge you a fee of £15 we may change these fees by giving you two months prior notice

over all the terms and conditions i cannot find why they have put a Charges Adjustment on the account

john

Apples2

Firstly have you reclaimed the PPI on this account as it turned out to be worthless?

Secondly, you have paid £30 more than you would have , had you maintained regular payments.
Sounds like you have been in arrears for some time.

What is the current balance and have you requested a settlement figure?

The PPI will go some way to helping (they will use it to clear your arrears) so that combined with a settlement figure, may be worth investigating.

nogger-01

i did try and claim the PPi back but was unsucessfull. if i take away all the charges listed above i would have overpaid by £30 but with all the charges on the account the seatlement figure was £1500 arond that figure

Apples2

How could it be unsuccessful if you tried to claim when made redundant but it didn't pay out? That is what it is for!

nogger-01

they made 3 payments under the insurence and also informedme that because i was working for a agency at the time i took out the PPI that i wasnt covered. After trying to reclaim the PPI i was sent a letter informing me that they do not beleive that i was misssold it. I have been fighting this for over 2 years with the FO

with regards to the original request. i have today recived a copy of the amendid agreement i singed in 2010. i have noticed on the agreement that they have charged me £1,189.60 for hire Purchase Charges and £75 Purchase Fee.

this is also along side the charges they have put on the account while i was trying to sort out the original claim on the ppi

i need to now if i can claim these charges back as if i can it would in affect mean that BH owe me. From looking at the payments i have made to date i will have over paid them by £30

hope someone can help me out here as im not sure what to do ??

John

Tixy

What do the original t&cs on the agreement say about charges for late payment?

nogger-01

say there is late payment fees of £25 - £30, but the time they put them on was when the account was in dispute

John