Can i or will I get a ccj?

Agoodwin

Hi everyone
Happy new year.

Got a question about a black horse car finance loan I took out in 2007.
I'm self employed and the 08/09 recession hit my industry hard and I went down to a two day week. I prioritised my money and the car came last obviously.
I contacted them they weren't much help in offering any solutions going forward and it was a mortgage type loan where they pile all the interest on first then you chip away at the whole sum.
The loan amount was for £14k roughly it's now at £5k the actual loan amount was £8k so the rest upto £14k is interest.
Black horse marked my credit file as defaulted back in 2012 don't know why it took so long as I haven't made a payment for at least 4 years!
My reason for writing this post is that I'm rebuilding my credit file and come this spring it's been in perfect order for the last 3 years. Black horse have already put a default mark on my file but can they still seek a CCJ for the remaining balance? The car is scrapped now by the way so I no longer Own it.
I haven't heard from them for 3 years but recently got a letter from a third party debt agency about it saying they've located my new address which is odd as I've never moved? Just checked my credit file and I have two recent searches from Lloyd banking group. One marked "additional address" and one marked "customer service"
Does anyone know if they can persue me for a CCJ still?
Any help and advice greatly received.
Regards
A Goodwin

[Deleted User]

Yes, they can.

Think you may be confused about the 'mortgage type' loan. Mortgages (and loans for the last few years) have interest calculated and added daily.

Voyager2002

Be aware that the debt collector will have bought your loan, probably for pennies, and will keep any money they manage to get from you. It is probable that they will accept far less than the amount owing on paper in "full and final" settlement, so one good outcome would be to negotiate with them. Before doing so, or even communicating with them, check out all the advice here about dealing with debt collectors.

Agoodwin

Ok great,
Thanks for the advice so far. What I don't get is why have the lloyds group searched my file only two days ago? I've not got any bank accounts etc with then nor have I appllied for any. If they've sold it to a debt collector why are lloyds searching my file?

[Deleted User]

Did the letter actually say that Lloyds had sold it/reassigned the debt?

It is possible that they have asked a DCA to help collect it, while retaining the ownership of the debt themselves

happy_bunny_2

It's at least 2 years from statute barred by the sounds of it. Statute barred is 6 years of no payments and no acknowledgement of the debt in writing.

You could arrange to pay, less likely to go to court.

How much can you afford?

As for the date of default, you can complain, in writing to get that more reasonable dated. Should be within 6 months of no payments usually, presume it applies to car finance also.

Might be also worth sending a CCA request. Especially if before April in 2007.

Agoodwin

I stupidly threw the letter out as I just thought they were chancing their arm as I haven't heard from anything or anyone to do with the car for 3-4 years at least.
The reason I got worried was seeing the lloyds entry on my credit file search section. Guess I should make an offer of payment as I really don't want bad credit again after coming this far with turning it around. I'm hoping to get a mortgage this summer and a CCJ will definetly scrap that plan. Trouble is who do I contact for a payment plan? Haven't a clue who owns the debt. A pickle isn't it.

happy_bunny_2

If it's on your credit file, write to the company reporting it.

If not, Lloyds.

No doubt someone will be in touch soon if they are searching your file.

The letter you received may or may not be related.

HB

fermi

If the entry on your credit file is still Black Horse, then they would be the ones to contact in the first instance.

Should it have been sold, they should have a record of who too.

If it's still with them then they can either deal with it, or refer you to who is dealing with it on their behalf.