Black Horse me and Capital Bank

[jasperpad]

I bought a car using a Capital Bank car loan ... not HP!

 

this was "passed on" to RBS? (I think) then to Black Horse.

 

I have been out of work (usual story) got behind and even though I am back in work my income will not support the full amount I need to pay, but do/did have a payment plan that was for £5.00 per month and this is more than I can really afford after all the usual household bills.

 

Black Horse now demand that I pay the arrears of about £450.00 then a monthly payment of £49.00 neither of which I either have or can afford.

 

I have sent my detials of my income and outgoings for each month and they are still demanding that I make their demands.

 

On the telephone their agent suggested that I give the car up which would leave me stranded as I need the car for my work getting there and back (no busses at the right timings) plus as the loan is a bank loan I am sure they cannot demand the car back. The agent even went as far as suggesting I go bankrupt to which i told her that if I did that BH would get nothing!

 

I am continuing to make the £5.00 payments.

 

Can anyone let me know if I am on the right track and what I might expect next and what I might have to do?

 

Having been Cagger for some time I am not panicking ... yet.

[ims21]

If it is a loan then they cannot take the car back.

 

When you sent your I&E did you ask them to freeze interest and explain your current situation?

 

They can't have what you haven't got and a Judge would not make you pay more than you can afford.

 

Continue paying them what you can afford...this is not a priority debt.

 

Stay off the phone and deal with this only in writing.

 

They will probably have already defaulted you so your credit file will be affected.

 

Are there any unlawful charges on the account that you can claim back or any mis-sold PPI?

[jasperpad]

Hi ims21

 

No PPI and I am waiting to find out about the charges and I did get the interest frozen. O got alovely letter demanding that I pay them and have explained my situation prior to that and I did know this is a non priority debt, also I knew that my credit rating is affected already so they can't make it any worse than it is right now. I really wanted to make sure of my position.

 

I am sure that if they do take me to court the judge would even reduce my current payment, as I have always acknowledged the debt and made every effort to make the agreed £5.00 payment every month and right now I could do with the £5.00 in my pocket!

 

Thanks for your reply and to anyone else who might have any information or comments.

 

jasperpad