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  • FIRST POST
    • lil_ali
    • By lil_ali 19th Apr 17, 10:01 AM
    • 8Posts
    • 0Thanks
    lil_ali
    Skye Loans
    • #1
    • 19th Apr 17, 10:01 AM
    Skye Loans 19th Apr 17 at 10:01 AM
    Hi I'm after some advice please. I took out a loan with black horse in 2006 which was for 120 months. I this loan was sold by BH to Skye Loans in 2015 a letter was issued advising us of this and other than a couple of months payment break at the beginning, payments have been made on time every month.

    I contacted Skye Loans last year to ask when it was due to finish and was told by a very pleasant chap that the last payment would be March 2017. I checked the account are the beginning of April when it was due and it wasn't taken and no request had been made for it, so stupidly I assumed that it was finished!! How wrong I was. I received a letter yesterday saying that I was in arrears even though no request had been made for payment and no letter received before this one to advise of the so called arrears.

    I checked my credit file last week as I had planned on applying for a remortgage and it was fine there was no record of an active Skye account on my file, however I signed up to experian last night to find that my rating had dropped from over 700 to 161 and Skye Loans have logged that we are behind with payments by 6 months!! Help I'm gobsmacked and unsure as to what to do or where to turn. I'm not in arrears so I don't know where this has come from. I'm worried about phoning them as comments on other sites are less than favourable about their customer service and alleged bullying tactics. I've registered with resolver so that I can record the call.

    Any advice would be gratefully received
Page 2
    • jimuckmac
    • By jimuckmac 10th Mar 18, 9:04 PM
    • 6 Posts
    • 1 Thanks
    jimuckmac
    Skye Loans Ltd are not regulated with the Financial Conduct Authority, which means legally they are not permitted to administer the loan or collect on the loan. Don't pay them another penny.
    • dawn87
    • By dawn87 10th Apr 18, 2:06 PM
    • 4 Posts
    • 0 Thanks
    dawn87
    Skye Loans
    I also need help. I took a loan out with Black Horse in April 2008 over 10 years. Obviously BH sold my debt to Skye who have sent me annual statements each year. I have NEVER missed a payment so no arrears and my annual statement states this. I have just rang them and asked for an up to date annual statement (which is apparently in the post) and also the date of when my last payment should be made (I was thinking April 2018 by my reckoning) only to be told that I have 6 more payments to make!!! I'm afraid I put the phone down and whatever she said did not make sense and I was fuming to say the least. I was literally shaking with anger. How can I sort this out because paying £399.42 per month for 10 years and thinking I had finally paid it off makes me feel physically sick
    • PeacefulWaters
    • By PeacefulWaters 10th Apr 18, 2:13 PM
    • 8,318 Posts
    • 10,670 Thanks
    PeacefulWaters
    I also need help. I took a loan out with Black Horse in April 2008 over 10 years. Obviously BH sold my debt to Skye who have sent me annual statements each year. I have NEVER missed a payment so no arrears and my annual statement states this. I have just rang them and asked for an up to date annual statement (which is apparently in the post) and also the date of when my last payment should be made (I was thinking April 2018 by my reckoning) only to be told that I have 6 more payments to make!!! I'm afraid I put the phone down and whatever she said did not make sense and I was fuming to say the least. I was literally shaking with anger. How can I sort this out because paying £399.42 per month for 10 years and thinking I had finally paid it off makes me feel physically sick
    Originally posted by dawn87
    What does your loan agreement say?

    What do your bank statements say?

    Was there any payment holiday at commencement?

    Gather your evidence. Complain. Escalate to FOS if you're not happy with the response.
    • dawn87
    • By dawn87 10th Apr 18, 2:36 PM
    • 4 Posts
    • 0 Thanks
    dawn87
    My original loan agreement from BH states 120 months from 4th April 2008. I have never missed a payment even Skye's annual statement has stated no arrears!!
    • John-K
    • By John-K 10th Apr 18, 6:52 PM
    • 654 Posts
    • 1,024 Thanks
    John-K
    My original loan agreement from BH states 120 months from 4th April 2008. I have never missed a payment even Skye's annual statement has stated no arrears!!
    Originally posted by dawn87
    Does it also state an end date, and do the payments, the loan amount, the APR and the end date all line up?

    You say that youíve not missed a payment, but have you ever made any late, even by a day?
    • PeacefulWaters
    • By PeacefulWaters 10th Apr 18, 7:16 PM
    • 8,318 Posts
    • 10,670 Thanks
    PeacefulWaters
    Is the interest rate variable?

    Has the payment ever changed?
    • dawn87
    • By dawn87 11th Apr 18, 8:39 AM
    • 4 Posts
    • 0 Thanks
    dawn87
    Does it also state an end date, and do the payments, the loan amount, the APR and the end date all line up?

    You say that youíve not missed a payment, but have you ever made any late, even by a day?
    Originally posted by John-K
    It does not state an end date, only 120 months. Yes to the loan amount the apr and the end date do line up. I've never missed a payment as I pay by DD.
    Thanks
    • dawn87
    • By dawn87 11th Apr 18, 8:44 AM
    • 4 Posts
    • 0 Thanks
    dawn87
    Is the interest rate variable?

    Has the payment ever changed?
    Originally posted by PeacefulWaters
    I don't think its variable but will double check and no the payment has never changed.
    Thanks
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