Blackhorse Finance Default

[LeeS80]

Hey,

 

I'm defaulted on an account with Blackhorse Finance. I'm due to pay the balance in January. I've read loads about defaults in this forum, and it's all very informative.

 

I've read the t&c's on the reverse of my contract with them, and there is a section which reads:

 

"INFORMATION WE GIVE WHEN YOUR AGREEMENT IS RUNNING"

 

We file infmation about your credit agreement with credit reference agencies. This includes your name and address, the amount of credit and payments due, and the period of the agreement whether you have paid promptly. We will record defaults with the CRA, and what you owed us if we had to terminate the agreement. This information will be available to others from whom your or members of your household request credit. Information filed with CRA's is also used to prevent fraud and to help creditors trace debtors.

 

We may for these purposes exchange information about you and this agreement with others offering credit. This helps to protect all honest customers. WE may also pass information about you and this agreement to any dealer whom we be believe you have asked to obtain that information, to anyone we have appointed to help administer this agreement, or to whom we transfer it or, if you take credit insurance, to the insurer for administration. claims handling and fraud prevention.

 

My aim is to have this default removed upon settlement and not have it hanging around for 6 years (which I think is ridiculous IMHO).

 

The key thing I can pick out is in the title of the section. It clearly states that this information will only be given whilst the agreement is running.

 

Am I being a bit dim or could this be useful when asking for the default to be removed? Anyone have any comments?

[lookinforinfo]

I take it that the agreement is fairly recent in view of the sentence that

says that your data can be used by CRAs to trace debtors.

 

Here is what the ICO have to say on continuing processing data after an

account has been closed.

 

"Consent must be appropriate to the particular circumstances. For example, if the processing is intended to continue after the end of a trading relationship then the consent should cover those circumstances. However, it must be recognised that even when consent has been given it will not necessarily endure forever. While in most cases consent will endure for as long as the processing to which it relates continues, data controllers should recognise that, depending upon the nature of the consent given and the circumstances of the processing, the individual may be able to withdraw consent."

 

So that would appear to confirm your feelings, as they say that even if

the agreement did contain your consent to process data after the contract

has been cancelled [and yours doesn't] it will not last forever and may still

be cancelled by you.

[LeeS80]

Thanks again for your input - it really is appreciated. I'm one of those people who although knows something is 99.99% correct I always like to make sure someone else sees something the way I do.

 

I'm paying these off in the New Year and will ask for any references of default to be removed from my credit file. If they ask why, I will refer them to their own T&C's and then quote the ICO comments too.

 

Thanks again!

Lee

[zootscoot]

Hi Lee,

 

Lack of consent gives you the right to issue a s.10 notice asking them to stop processing your data on the grounds that such processing is causing you damage or distress and that such damage is unwarranted. There is no obligation to say that they must comply. They may argue that they have the right to process your data under condition 6 of schedule 2. If they do, you have the right to apply for a court order under s.10 (4) to enforce compliance with your s.10 request. The court will weigh the conflicting interests between their right to process and your rights and decide if the processing in your particular case is unwarranted. Its not simply a matter of you withdrawing consent and they have to remove the default.

 

Hope this helps

 

Zoot

[LeeS80]

Hi Zoot,

 

Thanks for that. I'm aware of the consent not being enough for them to remove the default. My argument is that I didn't cease to pay them anything, but re-negotiated payments for lower amounts. They still defaulted me though. I've actually got a letter from one of the banks, HFC which states they lowered the payments to prevent a bad debt being registered, but they still defaulted me on credit file!

 

Cheers,

Lee

[lookinforinfo]

Am I right in thinking that you are currently paying BH back and the last payment is due in January? Or it it just that you intend to clear the account then?

If the latter, then it is much easier to do a deal with them to remove the

default in exchange for the debt being cleared. Not so easy if there is only a small amount outstanding.

 

And if the former. might be better writing to them anyway, before tha last payment, pointing out that you will have honoured your part of the commitment in the coming

month. And you are hoping that the bank, in recognition of that, will

reciprocate by removing the default against you. After all, it would have been

fairly easy for a young man like yourself, to go abroad perhaps for a while

to avoid paying the debt. Instead you have shouldered your responsibilities,

and you are delighted [as they must be too] that the end is in sight.

 

As you have now learnt from your past experiences, and your finances and

prospects are strengthening all the time, you are aware that a sensible

approach to the use of credit, can be a benefit, and not a millstone as it

has appeared at times.

With that in mind, you feel that having come through a sticky period, and

taken lessons from it, that you will be highly unlikely to repeat your previous

mistakes. And on that basis, you would like to think that they would take into

account the responsible attitude shown in repaying the debt, and take the

view that to continue processing the default applied to your account would

be too punitive.

Obviously they should not continue processing thereafter, but sometimes

some of them do try it, and a ltter like that may smooth the way. You can

always slap a writ on them when all else fails.

[LeeS80]

You can

always slap a writ on them when all else fails.

 

Lol. Thanks lookingforinfo. Your input has been a great help in this thread. I am indeed paying off the debt in one go, just over £4k. I thought this would possibly stand me more merit than merely taking 5 years to pay it back. As you say, a nice letter to see how they feel about the default will help to find out their thoughts on removing the default. I'll get the letter typed up between christmas and new year then get it sent as soon as the post office is open! (I'll post it on here for people to comment on first)

 

Merry Christmas!

 

Lee

[lookinforinfo]

Whoa there Lee................

My suggestion above was based on you being at the end of a payment plan,

not making a lump sum payment.

Because they are not expecting this, write and say that you may find that

you may be able to make a substantial payment off the debt, but as you

have other commitments as well, you are in two minds what to do if

the situation arises. One thing holding you back from a lump sum payment,

is that the default will still show for 6 years-so there is no great incentive

on your part to go that route.

You appreciate that by making regular monthly payments, the default will

last for longer-possibly three years. but that is a comparatively small length

of time when you are stuck with six years anyway.

 

And then say that you would appreciate if they could come up with a solution

to your dilemma and if there is one, then you would actively do your best to

comply with their requirements..

[LeeS80]

Cheers - I'll get a letter typed and post a copy on here before sending it off. Should be sometime end of Jan / early Feb that I can pay it off. I might be a little bit cheeky and ask for a discounted settlement too, don't suppose it hurts to ask.

[lookinforinfo]

Cheers - I might be a little bit cheeky and ask for a discounted settlement too, don't suppose it hurts to ask.

 

If you are thinking about requiring further finance in the forseeable future,

asking for a discount may not be in your best interest. As you will not have

paid off all the debt, despite agreeing to a full and fimal settlement, you may

well find a reluctance by BH to mark your debt as satisfied. And on some

occasions, companies have passed the still outstanding amount on to a DCA,

as the new owners of the debt will not have signed an agreement with you.

[LeeS80]

BH won't negotiate with me at all, so I won't be paying them off in a hurry. I've got the necessary credit facilities that I'll need for the forseeable and I'm paying them back interest free. If they change their tune I might pay the balance, not heard a peep from them in ages!