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My husband and I took out a personal loan with the Black Horse two years ago, for ten thousand pounds for our caravan, we have paid without fail every month £118.00 This year in December my husband lost his job, we started getting into financial difficulty and I phoned to speak to them about our situation, as we were building our own house at the time, we had quite a lot of money in our account… but we were living in our caravan but we knew that with no income and loads of money going out to pay bills this money would not last long and the budget to pay for the work we were having done was slipping away pretty quickly! The girl listened to what I had to say regarding our situation and the offered to reduce the payments to £95 a month? Not a lot of leeway there eh! I ended up spending ages on the phone 0845 numbers… In the end I was offered a payment plan for three months of £24 but they put a £90 charge on our account for the privilege! We completed a budget sheet from the national debt line agency, which I sent to them by recorded delivery, they were not in the least bit interested in even looking at that, they said unless you go to a debt management agency and get them to help you we cannot freeze the interest on your account or do anything else to help you. Whilst they agreed to the payment over the phone, we had no letter to confirm how the payment should be made… so around the time the payment would have been due I again phoned them, I ended up making a payment over the phone, a day after the payment was made I received a letter, stating that they were charging us £25 for the overdue account - this letter also stated that they couldn’t charge us interest on the overdue amount for 28 days, the following day we received a statement of our account and there in black and white it stated that we had been charged 30p interest on the overdue payment! In all they have been helpful in the fact that they were able to change the payments to a lower amount, but at the end of the day asking for the payments to be lowered to help us out in our hour of need has cost us £115.30 so I fail to see how they have helped us financially they have only helped themselves as all banks do - to more of our money… Would I go to Black horse again for a loan, NO, in fact we had our buildings insurance with them too.. I have just cancelled that! No more loans for us, now or in the future… you can never know what is round the corner, no one predicted that we would be in a recession in 2009 and it was the banks that caused this, situation which we have all ended up paying for, funny that when you are saving with banks and paying your money into them, which they are using they never ever give you anything like the interest they charge you when you borrow from them! Hope that you have found this article useful.
I never at any time said we were not paying them, indeed we have set up new mandates to pay them, other people have the right to know what these companies are like... we are adults with grown up children we do not shirk our responsibilities as you seem to infer, and no it is not like the other article I wrote as this company we at least willing to lower their payments for a few months to give us some leaway!
Claiiiree 03.05.2009 17:15
sorry but this is like the last one - you took out the loans, you need to pay them....