black horse loan , will they take my car??

blokes2

hi,
ive posted my troubles elsewhere on this board, up until now ive managed to keep my head above water by repayment shemes with my debtors, however, lloyds black horse now say i have to revert back to my agreed payment for my car loan, £180 a month which i just have not got, i told them this and have written with a financial statement but they are not budging.
the latest is that they said their legal team would be contacting me re recovery of the goods (the car)
i need this for work and cannot work without it, so basically if they take the car they are cutting off my lifeline alltogether at least i could have paid them something if im working, my only option if the car goes is to go BR.

does anyone have experience of this , any help would be appreciated, i was told by a friend that if i have paid over a third off the car they cant take it, i have paid this, is this correct??

thanks

delboypass

Of course they can take the car..

Even worse is they will still pursue for the outstanding credit i believe

NUFCnutter

I would suggest contacting the CCCS, National Debtline or CAB as soon as possible to see what they can help you with

Jules

You really need to check your agreement. My friend has a loan with Black Horse for a car but it states its a personal loan and not secured on the goods, he even rang them to check this was correct.
Most HP agreements do also state that if you have paid £XXXX then the company cannot just come and take them but again you need to check your agreement.

I would also suggest contacting CAB they will be able to tell you whats what.

THE_LONE_RANGER_4

of course they can take your car? as stated above is incorrect.
black horse loans are in the main credit agreements not hp agreements , they will talk to you for a while then take you to court where you can make an offer you can afford also how much of the loan have you paid?? .

standupguy

Is this a loan or Hire Purchase?

If it is a loan they cannot take the car as they do not have title to it.

If it is Hire Purchase then they can only repossess your car by going to court and obtaining a court order if you have paid at least one third of the Hire Purchase price. (which you calculate you have)

They would have to issue a default notice and if you had not paid the required amount by the set date on the default notice then they could commence proceedings for recovery.

How much have you been paying / can you pay? - if this is a reasonable amount then in view of your circumstances a judge may make a suspended order for repossession subject to you continuing to pay that amount?

jojogirly

My recent experience. They issue you with a default notice which you have so long to pay any arrears and bring the account up to date (in my case it was about 21 days) Then they move it to a debt collection agency who start sending you demands (they were happy to take a payment plan at any time) - this took about 4 months before they decided to take it to court. They take it to court to get a possession order however this does not mean they will take the car back - They would still be happy to accept a payment plan rather than have the car. All in all its a long process so dont panic yet. Have you paid the over the amount set out in your agreement? This means they cant just take the car. National debtline are brilliant - Give them a call, They really will help you sort it all out.

charlienbaz

Hi there,

i am no expert in these matters and have problems of my own .... but i can tell you that Black horse took my car.

they were very good though and they promised an amount to be deducted from the loan amount regardless of what it sold at auction.

we then arranged an amount that we could afford to clear the outstanding amount.

sorry to be the bearer of bad news!!

blokes2

hi guys,
thanks for all the advice,
i have paid over one third of the car already, around 5900, the full price was 13000. although the car is now only worth around 2500 due to almost 100, 000 on the clock!!!
i agreed to pay them 100£ a month instead of the 180 original monthly amout. they accepted this for 6 months which i paid on time , now they say i need to go back to the 180.

thats the story.