We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Black Horse Finance - are they having a laugh?!
slug2000
Posts: 69 Forumite
Hi all DFWs!
Some of you may have read my thread about becoming debt free - once an inheritance cheque from a very kind relative clears tomorrow then I'll be ringing all my CC companies, my loan company and Black Horse who I owe for my sofas (on 0%) and paying every last penny of my debt back (all £26k of it:eek: ). So, for once I don't dread opening my post and haven't been ignoring any letters from finance companies, etc. Last night I had a little giggle to myself - I only started paying back my sofas last month as there were no payments for 12 months. My first payment was £218 out of £1100 (I know, I know, this was pre-LBM and yes I do feel stupid for spending so much on a couple of sofas!
). So imagine my delight (!) when I open a letter from Black Horse stating "because of your excellent record in paying back your current finance with us, we have pre-authorised a £5,000 loan for you". :rolleyes: Excellent record?! I've paid ONCE! Now, the old me may well have been tempted by this little offer, but not any more. Now it just amuses me that they think I would be at all interested!
Some of you may have read my thread about becoming debt free - once an inheritance cheque from a very kind relative clears tomorrow then I'll be ringing all my CC companies, my loan company and Black Horse who I owe for my sofas (on 0%) and paying every last penny of my debt back (all £26k of it:eek: ). So, for once I don't dread opening my post and haven't been ignoring any letters from finance companies, etc. Last night I had a little giggle to myself - I only started paying back my sofas last month as there were no payments for 12 months. My first payment was £218 out of £1100 (I know, I know, this was pre-LBM and yes I do feel stupid for spending so much on a couple of sofas!
). So imagine my delight (!) when I open a letter from Black Horse stating "because of your excellent record in paying back your current finance with us, we have pre-authorised a £5,000 loan for you". :rolleyes: Excellent record?! I've paid ONCE! Now, the old me may well have been tempted by this little offer, but not any more. Now it just amuses me that they think I would be at all interested! LBM 1: May 06 - £16,900 :eek: . LBM 2: Jan 08 -£29,500 :eek: :eek:
Debt now: £150 (at 0%).:j
Debt now: £150 (at 0%).:j
0
Comments
-
And this is responsible lending that we have been hearing so much about! wow!I want a job that is less than an hour driving away from my house! Are you listening universe?
0 -
You should write back and tell them because of the general reputation of loan companies, you've pre-refused all offers of loans
Virtual sealed pot challenge #036 - 19/01/09-1/12/09 = £483.71/£750
Lightbulb moment: Feb. 2008
0 -
:rotfl: :rotfl: Yeah might just do that - great idea!LBM 1: May 06 - £16,900 :eek: . LBM 2: Jan 08 -£29,500 :eek: :eek:
Debt now: £150 (at 0%).:j0 -
So imagine my delight (!) when I open a letter from Black Horse stating "because of your excellent record in paying back your current finance with us, we have pre-authorised a £5,000 loan for you".
I received a similar letter, from Black Horse Finance, only my 'pre-approved' amount was £20,000.00 :eek: :eek: .
By the way, my letter arrived two months after Black Horse had, unceremoniuosly, repossessed the car, which they had 'financed', and whilst they were still chasing me for a £2k shortfall.
Responsible Lending
- they haven't got a clue. I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0 -
blimey! £20k?! no wonder this country's in the trouble it is ... I'm not saying that people don't, of course, have the choice to take the loan or not - but if they'd sent that to me a few months ago when I was feeling desperate, not having enough money to buy food, etc. then I may well have taken it out. Absolutely ridiculous.LBM 1: May 06 - £16,900 :eek: . LBM 2: Jan 08 -£29,500 :eek: :eek:
Debt now: £150 (at 0%).:j0 -
blimey! £20k?! no wonder this country's in the trouble it is ...
Exactly, slug, but to be fair, those 'standard letters' usually invite you to call the 'local' office, where they are not, once they know who they are dealing with, quite so ready to throw money at you. My '£20k' offer was, probably, the fourth similar letter that I had received during the time that I had my loan. On one occasion, I received a letter offering me £7.5k at a 'typical' 7% apr, and I DID ring the office - Yes, they were willing to lend me the money, but at 13% apr.
The young lad, on the phone, seemed quite surprised - even upset - when I told him what to do with his offer.I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.5K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.5K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards