Black horse car finance problem

[severina]

I bought a car via black horse in march 2011.

the amount of credit shown on th credit agreement is £5499.85 over 60 months.

 

I VT'd due to loss of employment in jan 2013 after making £2859.89 worth of payments.

 

The car was auctioned for £1821.

 

My halfway payment on the agreement shows as £4611.22.

 

so total received by BH is £4680.89 (more than the halfway payment)

 

I am now being chased for £1203 by mackenzie hall.

 

My question is

can i include the sold price to the halfway point or is it payments only?

 

also, they have charged me a £25 'repossession fee' i thought it was supposed to be free.

 

I've looked but cant find the answer to question 1 anywhere.

I'm hoping someone here can clear this up for me before i start contacting them.

 

Thankyou

[Conniff]

Can you please confirm this was a car loan and not Hire Purchase or Personal Contract Purchase (PCP) ??

[severina]

Hi

Its a hire purchase agreement.

 

Thanks

[dx100uk]

I bought a car via black horse in march 2011.

the amount of credit shown on th credit agreement is £5499.85 over 60 months.

 

I VT'd due to loss of employment in jan 2013 after making £2859.89 worth of payments.

 

The car was auctioned for £1821.

 

My halfway payment on the agreement shows as £4611.22.

 

so total received by BH is £4680.89 (more than the halfway payment)

 

I am now being chased for £1203 by mackenzie hall.

 

My question is

can i include the sold price to the halfway point or is it payments only? payments only i believe

also, they have charged me a £25 'repossession fee' i thought it was supposed to be free. correct

I've looked but cant find the answer to question 1 anywhere.

I'm hoping someone here can clear this up for me before i start contacting them.

 

Thankyou

 

 

sounds like they are pulling the old 'damage to car' sting.

 

 

sar time to get all the details?

 

 

you've paid more than half so they can go swivel!!

 

 

and get that repo fee back

and any other penalty fees they charged you

as well as any stupid insurances or GAP they charged too!

[Conniff]

Hi

Its a hire purchase agreement.

 

Thanks

 

So not 'unsecured'. Will remove that from the heading.

[Conniff]

Any update severina ??

[severina]

I am sending a SAR to them.

the reply was a bit confusing because it states 'payments only i believe' then says 'you've paid more than half so they can go swivel!!'

I will let your know how i get on with the SAR.

 

Thanks for your help

 

[Conniff]

That's easy to check. The agreement will have 'total amount payable' and you will know your monthly payments and how many you made. If payments made comes to half (or more) of 50% of the 'total amount payable', then you can VT.

 

The terms of the VT must be in the HP agreement you signed.

[theoldrouge]

to answer your original question, under the terms of vt, no you are not entitled to the auction proceeds, they compensate the lender

for their 50%of the agreement

 

SAR is a necessity, and lets see the original agreement minus pers details please

[severina]

,,

[severina]

Hi, i have just had a call - mackenzie hall have now sold the debt onto Idem.

I told them i have sent a SAR to blackhorse and am awaiting a reply.

Thanks

[Conniff]

You've circled the VT amount but what is also important is the word 'reasonable' where it say you must take reasonable care of the car. That means they cannot expect a pristine or brand new car to be returned.

[severina]

Hi

There was absolutely no damage to the car as it was hardly driven to be honest.

 

Thanks

[dx100uk]

not a good idea to be conversing with a DCA on the phone.

 

 

they are NOT bailiffs

and have

NO SUCH LEGAL POWERS

 

 

writing only

 

 

put the phone down.

 

 

always force a papertrail.

[severina]

I have told them i will only communicate in writing not ovr the phone.

[Peterbard]

Hi

 

This is a little confusing. Has there ever been a county court judgement on this account or has there ever been arrears which have caused the account to default ?

 

Have they ever confirmed in writing that this vehicle was taken as the result of a voluntary termination rather than a voluntary surrender.

 

In either case there would have to be a judgement before they could legally enforce the debt, but the sums due would be different

[Conniff]

What does it say on the agreement is the 'Total amount payable' ??

[Peterbard]

Basically there are two ways of terminating a hire purchase agreement before the term has elapsed.

One is via voluntary surrender. This is where the car is returned and sold at auction, the sum raised at auction is subtracted from the balance due on the contract plus any default charges, the balance (if any) is then returned to the hirer

 

The other is by voluntary termination under section 99-100 of the CCA, this can be done at any time before the full amount under the agreement is paid.

There will be a figure on the agreement which gives the sum(one half of the total amount payable) which must be paid in order for the hirer to walk away with nothing further to pay, however he looses entitlement to any funds raised by sale of the car.

 

The first method of applying payments the one used if the vehicle is terminated on default(after the issuance of a default notice).

 

If the agreement has been previously terminated because of a default or missing payments , but he lender has agreed to let the hirer continue with the agreement, a VT cannot be made, the account has already been terminated.

 

Collecting sums still due under a contract terminated by either method will require a court order.

[severina]

no, nothing like that and i definately voluntarily surrendered the car.

[severina]

i voluntarily surrendered the car which was then sold at auction for £1821.

[theoldrouge]

ok so voluntary surrender, vt rules do not apply

lets see all the figures on the agreement and list your payments made please

[dx100uk]

you said in post 1 you vt'd

 

 

where did this come from

or just you using the wrong term

because you knew nothing about how vt/vs worked

[Peterbard]

Yes that is why I posted the explanation re. the difference, obviously either not read or not understood.

[theoldrouge]

having looked at the bare facts that have been given more closely

it would seem that BHF have treated this as a vt

half the agreement £4611.22

less payments made £2859.89

less deposit paid £595.15

leaves total to be paid to complete vt £1155.28

add the £25 repo fee, plus one late charge of £25, would leave a balance payable of £1205

mackh chasing for £1203 so pretty close.

 

had it been treated as a vs they would be chasing £3946 approx

from what I can read of the part agreement as posted up

[Peterbard]

Does the VS value include any credit for the car, or early settlement ?