Motorhome repossession by Black Horse Finance - Help

[gaz43]

Just seen this on Motorhomefacts:

 

"At the beggining of this year I purchased a Motorhome for about £35k with Black Horse Finance. September this year I had run into arrears of 2 payments and was told my vehicle would be taken back. After pleading over the phone Black Horse agreed to let me clear the arrears.

 

The following Month payment was made without any problems but during October I changed bank accounts and missed this Direct Debit. Black Horse wrote to me but sadly the same week my dads company went bust and I forgot to sort it out.

 

Last week I had a heart attack - a bit of a shock at 36 but with a lot on my mind I again forgot to deal with them.

 

This morning I remembered so phoned then to make payment. I was informed that Novembers payment was due 3 days ago so I am now 2 months in arrears. I was about to appologise and pay the 2 payments when I was told "beacause you are 2 months in arrears your aggreement is terminated"

 

I was astounded, I said its hardly 2 months, its 1 month and 3 days? but they would have none of it and said there is nothing they will do and my vehicle will be re-possesed. They informed me that as the value of the loan is over 25K I have no rights.

 

I explained my situation fully and calmy to them and asked them to reconsider, even offering to make a few extra payments now to show goodwill. They refused and would not even take payment for the arrears.

 

They have said my vehicle is being repossessed and they will persue for the oustanding balance, adding they can force me to sell my house to pay there debt.

 

I really dont know what to do. I want to pay them but they wont accept it. There terms state:

 

"If you fail to pay a repayment we will write to remind you. If you fail to pay that and the next repaymentthis will mean you no longer intend too comply with this aggreement. If that happens then we will be entitled to accept this and terminate this agreement"

 

I'm worried sick about this, if anyone can help I would greatly appreciatte it."

 

Any thoughts?

[davenewellhome]

Its a terrible shame but if the terms of the loan agreement are as clear as they appear to be and have been broken, as the writer clearly says they have been, then there ain't a lot to be said. He could try writing to them to explain his situation or even try an ombudsman (if there is one for this sort of thing) to help sort out a mutually agreeable resolution.

 

D.

[Tomo3090]

Gaz, have you tried a personal visit to your Lloyds branch to see if they can help. Are you a Lloyds customer? If so how long and what extent is your personal/business finances tied up with them? All these points may have some impact, but I'm not sure these days.

 

Could you speak to trading standards/ welfare rights regarding the legal implications of what they are doing?

 

I can't suggest much more unfortunately because I don't have a legal background, but I think you need someone who has.

 

Good luck

 

Steve

[J9withdogs]

As the amount the finance company will recoup from the sale of the motorhome will probably fall well short of the amount owed, I am surprised they are taking this stance.

 

Common sense should surely prevail.

[Den]

Its sound advice to seek legal advice, Could you take out a loan to pay this one off in full.

[Patricia]

Tomo3090 - 2008-11-19 9:28 PM

 

Gaz, have you tried a personal visit to your Lloyds branch to see if they can help. Are you a Lloyds customer? If so how long and what extent is your personal/business finances tied up with them? All these points may have some impact, but I'm not sure these days.

 

Could you speak to trading standards/ welfare rights regarding the legal implications of what they are doing?

 

I can't suggest much more unfortunately because I don't have a legal background, but I think you need someone who has.

 

Good luck

 

Steve

 

Steve I think you have misread Gaz's post - as I understand it he is only quoting a letter he read elsewhere, not him own circumstances.

 

The only suggestion I have is to reinterate the advice to write to Lloyds and to enlist the help of the CAB who might offer more practical advice.

 

However, Lloyds are so impersonal now and it is increasingly difficult to make contact with anyone of authority. Although I have been the main account holder for many years I still cannot remove my late husband's name from their database and I have been trying since March 2006.

[Rainbow-Chasers]

I would talk to a manager and state that you are willing to pay the arrears in full, and that would outweigh the costs of any legal action, and depreciation in the vehicle (check your small print first as you may still have to pay the difference)

 

Once they see sense, you should be ok! Lloyds were never the best people to deal with, i had a member of my family go through a similar thing when he NEVER missed a payment. They were quite adamant that he had. Needless to say it went to court, he proved all had been paid and the court ruled in his favour, and gave Lloyds a ticking off! They still black listed him for credit though against the couirts orders!

[Derek Uzzell]

Just to repeat what Patricia has already highlighted...

 

gaz43's original posting on this thread was NOT a personal plea for advice, it merely quoted an entry on the MotorHomeFacts (MHF) forum.

 

If you want to monitor the progress of this on MHF (there's already been plenty of discussion), the link to it is:

 

http://www.motorhomefacts.com/modules.php?name=Forums&file=viewtopic&t=55735

[Pat]

Whilst I sympathise with this man fact is that he has run into arrears 'TWICE' and therefore is in breach of his aggreement with Black Horse!!!

 

If the banks had taken this sort of action some 2 or so years ago they would not have gotten into the mess they are now in! I cannot believe the uproar and flack that Northern Rock got earlier when they were accused of being too heavyhanded and hasty in applying for repossesion orders for houses people had defaulted payment on, why shoudn't they? An aggreement is an aggreement and should be ahered to, surely these people know the risks when taking these loans out?

 

Also I see that there is no mention of the reason/excuse of why he ran into arrears on the first payments but he immediately, miraculously managed to clear the arrears! I don't think we have heard the whole story, something is not quite right here!

 

Regards Pat

 

 

[Guest Tracker]

I would be inclined to park the van where they would be unlikely to find and remove it whilst there is still hope as once it is gone you are well and truly screwed and meanwhile seek proper legal advice from a qualified source - maybe a solicitor who could write a letter to them - they might listen to a solicitor whilst they will just ride roughshod over a customer.

 

Would the local media be interested - as the banks hate bad publicity?

 

Lloyds - the sign of the s**tehorse!

[horse444]

>:-) I would agree with most comments, especially put van under lock and out of road until you have legal advice on the situation, the bully boys employed to uplift vehicles dont' have respect for any-one or anything, and also remember they must have legal documentation ie. via court to uplift. I personally would consult solicitor instructing them to raise action to stop uplift, depositing monies due to them with solicitor for them to forward when mutual agreement agreed, court would be very reluctant to grant uplift notice if solicitor explains history and advises monies in client account. or have you considered re-financing it with other company or selling to partner and clearing Black horse. I hope your health is improving and life in general gets better for you soon.

[Keithl]

One word of warning to all comes from this.

In the original quote the writer said that as the loan was over £25,000 he had no rights. When we were enquiring about a loan for our MH earlier in the year every lender we approached said do not borrow over £25,000 as your legal rights are severely limited, we did not go into the detail but neverless did not exceed this figure.

Also we never secure a loan against the vehicle, we only ever get an unsecured personal loan, that way the finance institution cannot repossess the vehicle.

Keith.