Did you have a Black Horse personal Loan?

SpiceIsland

Having been a long term lurker on these Boards I have this week fired a letter off to Black Horse.

An old School friend just happens to work for a particular banking "firm" based in Cardiff who attended a briefing session last week. In that session the "firm" briefed staff on incorrect historic Loan statements sent out and the implications this could have on that "firms" Business.

This is after other Banks being exposed, as using incorrect wording and not including required information on Loan statements.

Now looking at my statements this is true for me so have sent letter into Black Horse only to get a call 36hrs later asking me questions. I told the handler that I have nothing to say apart from what was contained within my letter. This was met by " I do not uphold your complaint". I informed him that I will be seeking a settlement via the Courts. He promptly hung up.

My Loan was issued in 2009 and a personal Loan -Not a loan against a vehicle. Now being armed with the Fact Black Horse are aware of their mistake regarding Loan Statements " briefing internal staff" ......its is full steam ahead for me.

I will update as I go and if you had an unsecured personal Loan from Black Horse, I urge you to check your statements and stick a letter in. Black horse will be the next Bank to come a cropper on this, so get your letter in and then prepare for battle. They will not roll over on the first letter and are only addressing persistant claimers who are willing to go all the way either with the FOS or Moneyclaim Courts (worried that a tide will open as they are already refunding Vehicle Loans).

I will update as we go but I will not let this rest.

fermi

SpiceIsland wrote: »

An old School friend just happens to work for a particular banking "firm" based in Cardiff who attended a briefing session last week. In that session the "firm" briefed staff on incorrect historic Loan statements sent out and the implications this could have on that "firms" Business.

Quite possibly as an eventual result of this OFT action

http://webarchive.nationalarchives.gov.uk/20140402142426/http:/www.oft.gov.uk/news-and-updates/press/2014/18-14

SpiceIsland

Certainly is fermi.

Although they have been refunding the Car Loans they have not refunded or written to anybody regarding the unsecured personal loans that were arranged often by their regional Black Horse Loan centres ( closed by them in 2010).

Black Horse were obliged to provide a minimum level of information on statements and arrears notices they send out, but some have vital details missing - such as statements that fail to state the original amount borrowed and In such cases, customers are entitled to a refund of any interest that they paid during the periods when the mistakes took place.

If your had a black horse personal loan like mine.....look for
*The Yearly Loan statements often arrived months after they should, 3-4 months late.
* Incorrect wording regarding Interest on the loan
* Yearly Statements not showing the amount borrowed, applicable interest rates AND failed to include the necessary reminders about people's rights when it comes to paying off the loan breaching of the 1974 Consumer Credit Act.


Send your letters here : Black Horse Limited, St William House, Tresillian Terrace, Cardiff CF10 5BH.

carolwat

Ive had black horse car finance and ive never received any letters from them regarding this. I paid the loans on time every month and paid off in full.

stator

I guess this wouldn't apply to anything pre 2008 then

Since October 2008, under Section 77A of the Consumer Credit Act 1974 (CCA), lenders have been obliged to send periodic statements to customers. These must contain specific information and wording. A creditor failing to provide the periodic statement as required is not entitled to enforce the agreement, and the debtor is not liable to pay interest or default sums, during the period of the creditor's non-compliance.

SpiceIsland

Carolwat

I had no communication from them at all and settled my Loan last year with Black Horse. I have been told all Loan accounts have/are being looked at by different centre workers.

I know after my Letter I sent last week that they know I got them by the ***S ! The call centre worker who rang me me so polite on the phone but trying to get me to discuss it with him over the phone and explain my letter. When I refused he virtually hung up and would send a letter would be in the post.

Black Horse know they have problems but are trying the usual games. Having reclaimed bank charges/credit card charges in the past and only had a result once I launched MoneyClaim on line. I have gone through the process before and will again.

Worth sending a letter to them

carolwat

I wouldnt have a clue what im talking about and have no idea what to write to them saying im afraid lol just wondered if I should have received a letter from them as your post seems to suggest I should have.

SpiceIsland

Having a merry dance with them this week!

Letters both ways and a few others on another site about to issue Moneyclaim on line. Going to enter the New Year with a Bang!

PS , now received a letter saying they are " looking into my complaint" dated 3 days after they told me on the phone they had not upheld my complaint. They do not like the prospect of Court.........they dont like it up em!

True to form this is exactly what I was told would happen by somebody in Cardiff. 1)Complaints advisor rejects claim and informs complainer by phone- YEP GOT THAT
2) Complainer rejects Black Horse decision and sends further Letter-YEP DONE THAT
3) Black Horse responds saying the complaint is being looked at AGAIN-YEP GOT THAT
4) Black Horse try to draw it out -YEP GOT THAT
5 Black Horse offer small goodwill gesture WE WILL SEE
6) Complainer rejects token offer WE WILL SEE
7) Complainer issues Court Documents WE WILL SEE
8) BlackHorse settles or digs in for Court WE WILL SEE WE WILL SEE
9) Court decides

RachVG

I had a Black Horse vehicle loan between May 2009 and May 2013. It includes the right to termination wording that they have been refunding the interest on many vehicle loans for, but there is nothing in there about partial repayment/overpayment. Should they have included this or is the legislation different for a Hire Purchase agreement than for a personal loan?

SpiceIsland

Should have included it I think within the statement. I have now drafted my moneyclaim on line to be issued in January against them.

bigbadwolf500

Hi
I had a loan through black horse which I took out at a car dealership back in 2008. I paid off the loan early in 2010. I have some statements, but I am unsure re correct wording on them.
Is there anywhere on MSE or does anyone have a template letter which I can use to enquire to Black Horse?
Many thanks in advance