Trouble with black horse finance

[northwind]

Once the default's been satisfied it's less damaging on your record as well. Depending on the credit agency and the search being conducted, it may not effect you at all once that's been done.

You didn't say, but did you discuss this at all with Black Horse when it first started to go wrong, or did you just carry on paying? If you just carried on without discussion, that was a bit of a mistake I'm afraid- they'd treat it as an open defaulted payment, rather than a change to the repayment structure. I've never come across a company that goes straight to default notices without increasing degrees of severity in their letters, and proper notification beforehand. Not having a go, just making an observation. These things are always better dealt with sooner rather than later.

From an impartial position- you've missed a payment, and I suspect they'd say you've been incommunicative after their attempts to contact you (the letters). Both black marks. However, you've missed only a single payment, and you've shown the intent to repay the loan. That's a huge mark in your favour.

I think this is going to go something like this. Speak to the CAB. They may not be particularily helpful. Then, you want to check one essential thing- the Financial Services Ombudsman would normally be your final step, but they do normally exclude "firms that provide personal loans and consumer credit but are not banks or building societies". This might well include Black Horse, who're owned by Lloyds TSB but may not be considered a bank.

Then, make a complaint, in writing, as soon as possible, stating the situation in full, and what you're willing to do to fix it, and what your issue is with their ridiculous policy. Be polite, and totally honest. Say "Disappointed" not "upset" or "angry"
And be sure to use the words "punitive charging" at least once. Punitive charging was specifically made illegal a while back. It's still very common, but most banks will know they're on shaky ground and are likely to back down if politely threatened.

If it turns out that the Ombudsman would be prepared to take on a complaint against the company then you also want to use this :

"I hope that this matter can be settled amicably. However, I am aware of my statutory rights, and I am fully prepared to take this matter up with the Financial Services Ombudsman if a mutually satisfactory conclusion can't be reached."

It's cheap, but it's a good way to establish yourself as a genuine complaint with the willingness to be a thorn in their side, not just an opportunist. I'm a bit out of date on the law these days, unfortunately, been a while since I had to deal with it (from the Evil Bank's side!)

i havent read all of the posts, but i just thjought id mention that my brother works on phone customer care, and its amazing the muppets he speaks to that think they know it etc, as a result it is hgard to remain very nice to everyone and give them the best deal, i know they should be fair and calm for all but sometimes its just impossible, especially with call time targets and massive phone ques pressuring them as well...

best bet be exceptionally polite in all you do and say, do not patronise, have relevant information handy when you phone up

andy