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Hi there im new here and i dont expect sympathy as i have made this mess myself.


Im after knowing a little bit of what i can expect.


I took out an agreement with Black Horse approx 15 months ago on a car, and i missed a couple of payments, so i eventually got Close Contact (?) come round and i managed to get the outstanding arrears extended over 12 months so my monthly payments were more.


I managed for a few months with this and now ive missed two of these and had a default notice from Black Horse.


I owe more than the car is worth and i havent paid enough to hand it back.


Where do i go from here, as i am worrying myself stupid over this.


Id like to say sorry but i dont know who to!


Do you need to know more info?


Am i going to get the car taken off me, are they going to take things from my mum and dads?


I dont want to keep the car so im not bothered if they do take it, i just need to know!


Also if it is reposessed, do they sell it and take it off the balance owed?

If thats how they do it, do you have options of how to pay the balance, as i know i couldnt pay it back at once.


Please help, thanks.:(

Edited by soworried
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The only thing that Black Horse can take is the car ( if the loan is secured on it ie. HP).


If the repossess it, they will sell it at auction and deduct the monies received (after costs) from the outstanding balance. They will then expect you to settle the balance.


The very worst case scenario is that they sue you on county court for the balance and obtain judgement. The Court can order a repayment plan suited to your income.essential outgoings - but you must ask the judge for this. If you fail to maintain these, then BH may well semd in bailiffs. Bailiffs cannot remove other people's property - only yours.

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