Black Horse arrears

[Ianimp]

In July 2010 my wife I purchased a static caravan on a Park Resort holiday camp for

£13693.75

a deposit of £2500 and

the balance on Black Horse finance.

Our finances changed 8 months later and was no longer able to pay for the caravan

 

 

we spoke to BH and they agreed they would take the caravan back sell it and we would have to pay the outstanding finance on a agreed amount of £50 per month and top up as and when we could with no interest on the outstanding balance which was approx £6500.

 

 

Since 2013 we have kept a regular paymant of £50 as agreed with BH and have a outstanding balance of Approx £4500.

 

 

Recently i checked my credit score on Clear score and found that i was in arrears with BH,

i contacted BH and discussed that i had kept our agreed payment every month and i was still in arrears.

 

 

BH told me that i was and would continue to be until full payment

i asked if i paid the original monthly amount of £275 or paid a settlement figure (which they declined) would i still be in arrears, and the answer was yes,

Do you have any advise

 

Is it to late for a "voluntary termination"

[Bazooka Boo]

They're not doing anything wrong unfortunately.

 

The mark on your credit file will remain for six years, regardless.

 

The fact is, that when you entered into the 'original' agreement with them, you agreed to pay X amount each month, your circumstances changed, and the payments reduced, even with their agreement, you're still defaulting on what you originally agreed.

 

They have us all over a barrel, and when it comes to credit files, they act like petulant children, believing that it somehow matters and the average Joe somehow cares about it!

 

Obviously if your CRF is important to your employment then that's a whole different board game, if not, I wouldn't give it a seconds thought.

[Bazooka Boo]

Is it to late for a "voluntary termination"

 

Unsure???

How much have you paid off?

 

What does the contract say about VT??

[Ianimp]

Hi we ve paid approx £2000 off the outstanding balance

[Bazooka Boo]

What does it say in the T&C's about VT?

[Ianimp]

I dont have a copy as it was so long ago, is it possible to get a copy

 

Thanks for your help

[Bazooka Boo]

Sorry, just re-read the OP......you've already VT'd it have you not??

 

The default will remain, regardless, as you broke the original contract, and it will stay on your file for 6 (six) years until it auto drops off your file.

 

They flogged it, and are demanding you pay the remainder outstanding balance, which you both agreed at £50 a month.

 

Even if you paid them the £4500 it wouldn't clear your credit file, the default will remain.

[theoldrouge]

So it was an HP agreement and

 

They kindly agreed to let you vs

the caravan and stung you for the

whole agreement minus the sale price?

 

You could have exercised your right to vt

back then too late now

 

How are they reporting the account

AP or default?

 

Take it you received a default notice

[theoldrouge]

I dont have a copy as it was so long ago, is it possible to get a copy

 

Thanks for your help

If HP

 

cca request under s79 to BH