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    • No it was about under by a couple grand.    Cheers
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Chelliebelliew

Blackhorse sold secured loan to Skye Loans and Skye forcing me to sell my house

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Hello I am new here and desperate for some advice.

It's complicated but will try and keep it brief but below is a summary.

 

In August 2006 myself and my now ex husband needed to refinance an existing loan with GE Money

a broker referred us to Blackhorse and we were offered a secured loan of £40k.

 

 

We were categorically told that we could only take the loan if we had the PPI as well even though we said the repayments were way to high to afford.

 

 

We were convinced by the Blackhorse rep that this was our only option like idiots we signed.

 

 

The loan agreement states Regulated by the Consumer Credit Act 1974.

Total amount of loan with PPI was £52,075.05

(we did query this as we were told absolute max allowed to borrow was £39,000 the balance is cost of PPI). 10 year repayment period. Interest rate of 11.9%.

 

A year on and we realised that the PPI should not of been sold to us as we had our own insurance through our employers (we had told the Blackhorse rep this before signing)!

After a bit of a fight £10,373.35 was credited (so it shows on my statement).

 

Another year down the line and a divorce.

I got into payment difficulties and missed a few payments

(I always made Blackhorse aware of when and why).

 

 

PPI came to light again as when Blackhorse credited the original amount they had failed to refund the payments we had made and the interest.

 

 

In 2009 Blackhorse finally credit the account again with a refund of £3,561.31 only after I had refused to pay anything until they did!

 

I carried on paying reduced payments to Blackhorse as I was struggling on my own with the loan and main mortgage but had accrued arrears made up of missed payments and charges of £23,435.47

 

 

Blackhorse went for a SPO in November 2012.

Blackhorse wrote to me the same month to say they were charging me 11.292%.

 

I have carried on paying the court agreed sum

however on occasions I have not been able to pay the whole amount on the due dates and payments have either been split, late or not the full amount.

 

 

I always called Blackhorse and made them aware if paying extra when I could and for once they were helpful!

 

In October 2014 I received my annual statement and was shocked to see that even after paying over £7K the balance of my loan had only gone down by £145!

 

 

I queried this and put in a complaint to the FOS.

Within in 4 days Blackhorse rang me and said

"good news - no more interest,

when I queried why all of a sudden they said "good will gesture"!

 

Roll on to May 2015 when I receive letters from Blackhorse and Skye to say loan was sold on.

I rang Blackhorse and asked why they said no longer "allowed" to operate those loans"

however everything with my loan would remain the same.

 

 

I then called Skye when my first payment was due 1st July 2015).

Made the first payment via debit card

however the rep entered the wrong post code so had to do again.

Again was reassured smooth running of account by Skye.

Checked bank account later that day to find I missing two lots of large payments!

 

 

Rang Skye oops sorry a mistake we don't have the money it's in limbo,

called my bank who confirmed the wrong payment was in limbo and would have to wait until it wasn't collected to recredit my account.

 

 

My bank then blocked my cards as believed it was fraudulent due to high amount twice!

 

 

This took almost two weeks which meant I incurred bounced direct debits bank charges and £253 liability order for non payment of council tax!

Skye just said oh we didn't have the money physically so tough,

 

On making my next payment the lady I was speaking to said about setting up the payment plan by direct debit.

I explained I was unable to do that as sometimes I have to make split payments as money was very tight.

She said send in your pay slips, statements and expenditure and income and we can see if we can get you a more comfortable payment.

 

 

She asked was was comfortable

now I said the amount but what about SPO.

 

 

She said well it's a fresh start with us and took the reduced payment.

She confirmed to make the reduced payment until they had reviewed my finances.

 

I made the reduced payment (split) this month on 29th.

 

 

Thence stepdad I received a call from a rep who told me she had reviewed my finances and the history of the account from Blackhorse and as there are still £9,315 owing on the arrears and as my finances clearly show I ve no extra finances to clear these - they suggest I sell my house to clear the whole balance on my loan otherwise they will possess.

I was shocked!

She said they are no ,onger able to help me and I have until Monday to respond.

 

Sorry this is so long but thought the whole history would be helpful.

 

Sorry I forgot to mention I have paid £45,102.41 to date and the balance on this loan is ......... £42,676.88,

 

 

the lady who called from Skye in Friday also said the the original term of the loan was up last month and that I had breached the SPO as when it sent to court a new agreement was put in place (news to me as I never signed any new agreement) that the loan would be extended by 4 years to allow for all arrears and payments to clear

 

 

however I would need to be paying over £900 a month to do this - I currently pay £700 which is £80 more than agreed by court.

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oh dear

 

 

seems like you've been had blind here.

 

 

you should ONLY be paying what the COURT ordered PCM they nor you can vary that.

and did the order state post judgemental interest??? I very much doubt it.

 

 

if you total up what you've paid since the court order and that meets the 'schedule'

of payments PCM to date, they cant do anything

the SPO is not in skyes name anyway.

 

 

mot the first time we've heard of them pulling these stunts

 

 

you need to pay by bank transfer [your interweb banking portal]

and stop phoning them.

 

 

get an sar running to them

and to Blackhorse

 

 

and might not hurt to send ge one either as I bet the refinanced loans had PPI too!

 

 

you speak of 'penalty' like or arrears charges

those should all be reclaimed from ge/skye and you should not have had any of those added passed the judgement. not allowed!

unless its in the judgement.

 

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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Thank you so much for your helpful reply.

 

The court order stated:-

 

The court orders that

 

1. The defendants give the claimant possession of xx xxxxxxxx xxxxx on or before 05 December 2012.

2. The defendant pay the claimant £50,191.13 being the amount outstanding under the mortgage.

3. This order is not to be enforced so long as the defendants pay the claimant the unpaid instalments under the mortgage of £23,435.47

by the payments set out below in addition to the current instalments under the mortgage.

 

Payment required

£xxxxx per month, the first instalment being paid on or before 28 November 2012.

 

And it is adjudged that

The claimant recover against the defendant the sum of £50,191.13 for debt and interest to date of judgement,

not to be enforced so long as possession order remains suspended.

 

My understanding (correct me if I am wrong) that the last paragraph means interest should of stopped from the court date but it didn't until 31 August 2013.

 

Payments to date should be £21,700

I have paid £15,140.

 

 

£5,191.24 being just interest

£275.76 being court costs.

 

 

The arrears were £23,435.47 and are now around £9,315.

 

 

The order for possession has the claimant Black Horse Limited.

 

 

I checked my credit reference file and it states Blackhorse as satisfied but Skye doesn't appear in my report?

How can I check Skye do not have any to my house?

 

Something has always been fishy about Blackhorse and I will be sending SARS to both Blackhorse and Skye tomorrow.

Blackhorse didn't make any charges past judgement but I have over £3K of charges prior to that

so can I Blair for those along with going in for a further PPI claim.

The numbers just do not add up with them!

 

The lady from Skye told me that I had breached the SPO as she had checked my payment history with Blackhorse

and I would be breaching the new agreement (passed in November 2012) because my payments are not up to date via the schedule

which would take me over the additional 4 years the court gave me (again wasn't aware of an additional 4 years).

 

 

She told me the original loan term finished end of September 2015.

That's incorrect it should be end of September 2016.

 

 

She also said there is nothing else they can do for me and that they had already contacted my main mortgage lender

and searched online for property prices in my road!!

She told me my house is worth £325K judging by a re net sale in my road

- it isn't it's worth £215K as I had it valued earlier this year.

She said my only option is to sell and they request I get the values in,

 

I asked her directly "are you saying you are coming to take my house" and she would not answer me directly.

I asked her for everything in writing and she said it wasn't necessary she would personally call me weekly to find out what my decision was.

 

 

I pleaded for another 6 months to get the account on track and asked if by some miracle I could clear the arrears and keep on track with payments

could the SPO be lifted and her response was "is that a possibility?" And no we would keep the SPO and our decision to force sale.

I was sobbing y this point and put the phone down.

 

I know I have no choice to sell now but I am besides myself with worry that they will repossess before I am able to do so.

They also want me to pay £900 a month from now!

 

 

What can I do please?

Have others been in the same situation with Skye?

 

 

I said to the woman that they aren't even giving me a chance

- the loans only been with them less than 3 months and they ve already mislead me

and put me in financial difficulties with their cock ups.

 

Your advice is appreciated as I can feel the fight in me embebbing away

and trust me this loan has left me living in hell since the day my signature touched that paper!

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After you sort the immediate concern

 

I would be doing a claim for that PPI :)


PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

 

The SabreSheep, All information is offered on good faith and based on mine and others experiences. I am not a qualified legal professional and you should always seek legal advice if you are unsure of your position.

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Thank you for your advice - I will be on to Blackhorse tomorrow.

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everything in writing, no more phone calls


PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

 

The SabreSheep, All information is offered on good faith and based on mine and others experiences. I am not a qualified legal professional and you should always seek legal advice if you are unsure of your position.

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I have to call them on Monday (otherwise they will be calling me) to agree to the sale. Should I not do that then? My fear if I don't is they will just apply to the court for a warrant to repossess.

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I would await further advice, but you are under no legal obligation to communicate by phone


PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

 

The SabreSheep, All information is offered on good faith and based on mine and others experiences. I am not a qualified legal professional and you should always seek legal advice if you are unsure of your position.

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Thank you for your advice. I will await further advice from here before I do anything tomorrow.

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I've alerted the thread

lets see who pops in

 

 

something def smells here.

 

 

yes stay off that phone.

 

 

what the woman at skye loans has said doesn't run true to me.

 

 

wont put it in writing...urm...

 

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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Thank you DX - something definately does smell everything considering because I can't help thinking that now they ve seen what equity I have in my house they are just wanting a chunk of money. How can a £40K loan cost over £89 K to repay. These people take hard working decent people's lives and smash them to pieces. Your advice is gratefully appreciated.

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As advised above the Full subject Access request is a must in order to work out how the PPI has impacted on the balance


PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

 

The SabreSheep, All information is offered on good faith and based on mine and others experiences. I am not a qualified legal professional and you should always seek legal advice if you are unsure of your position.

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I checked my credit reference file and it states Blackhorse as satisfied but Skye doesn't appear in my report?

How can I check Skye do not have any to my house?

 

 

You can check with Land Registry to see if Skye have any charges/interest in your property.

 

https://www.gov.uk/protect-land-property-from-fraud


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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Do not phone, and if they phone you just tell them that you want all future communication in writing and hang up.

 

How much is your contractual payment and how much has been ordered by the court?


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Hi Chelliebelliew

 

So sorry to hear what you are going through.

 

Like previously advised I would get SAR off asap.

 

Refuse to speak to them and only deal in writing only.

 

Maybe an account in dispute letter / harassment / contact CAB ? Perhaps someone with more experience will advise.

 

I am currently dealing with Skye regarding a previous Blackhorse loan over some issues and I will keep you posted.

 

Did you receive annual statements from Blackhorse ?

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Thank you all for your advice.

 

I have sent off SARS to both Blackhorse and Skye loans yesterday.

 

Louisa from Skye did call me yesterday and I did tell her I want all future communications in writing as I find there manner bullying. I did say I have been forced by them to sell my home and I want that in writing from them! Louisa's answer "well it's for the best - you lol get a better quality of life". I put the phone down before I lost it completely.

 

 

FOS have said they dealt with the original PPI claim against Blackhorse so will not explore it again (claimed 2009).

 

Does any one know from the ruling I posted above if it means interest should of stopped after the court hearing for suspended possession order? If so I can use this as a basis with my argument with Blackhorse. It will be interesting to re dive their file to see why they did stop the interest over a year later.

 

This is a mess and I am trying to unravel it - just don't know where to start really.

 

My house goes on the market today - I just want rid of this noose around my neck.

 

I will keep you posted.

 

Regards and thanks to you all.

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The choice is yours as they can't force you to sell without a court order but I thought you might like to read the last post in this thread.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?367724-Suspended-possession-again-with-Acenden....&p=4746179#post4746179


 

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The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Thank you Caro very interesting as my main mortgage is with Acenden

 

A few questions.

 

If I sell my house do I have to disclose to Skye how much I sell it for before I complete? I m worried they will still enforce SPO even though they said they wouldn't before I sell.

 

If I m paying them off a year early shouldn't my redemption figure be lower?

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It's a bit ambiguous about the interest. That's how much it was at that time but it's not clear if they can add more.

 

I don't see any reason for you to give them any info about the sale. Stick to keeping everything in writing so they can't bully you into doing or saying anything you don't want to.

 

Can I just check - is your house on the market because you want to sell or because Skye said so?


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Thank you. I don't mean to appear ambiguous I am just trying to find out if they have handled my account correctly.

 

Skye have forced the sale but on reflection my health is suffering and I believe I need to get out first and fight them afterwards.

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Thank you. I don't mean to appear ambiguous I am just trying to find out if they have handled my account correctly.

 

Skye have forced the sale but on reflection my health is suffering and I believe I need to get out first and fight them afterwards.

 

I meant that the wording on the court order was ambiguous about whether or not interest could be added.

 

Regarding the forced sale, they can't do this without a court order. I'm sure this is very hard for you, but in the circumstances I think this is a wise and brave decision. It'll be easier to fight when you're out of their clutches. You must do what is right for you.


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Do you have any equity in your house?


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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