Black Horse repossed and still chasing charges from me after 10 years

[susiebling365]

Hi. Looking for direction on a ten year old problem, that now I am retired, and met someone who is more savvy than me, really needs an end putting to it. Its with the Black Horse, who I notice are very unpopular on here. I will try to be brief so you don't get bogged down and I do hope someone can answer my question , here goes........

 

In May 2002 and due to divorce I was coerced into agreeing to the purchase of a motor home by solicitors. This was to enable myself and daughters to regain the family home, and my then husband to move out and live in the motor home. He initially agreed to have this as his financial settlement for the divorce.

The original debt totalled £40,094.35 , which included interest charges of about £ 10 k.

However, the divorce dragged on and my husband changed his mind, and I was left repaying the debt. The payments were £333.63 per month and with having two teenage daughters I soon got into difficulty with the debt.

 

Eventually Black Horse repossessed the motor home and it was sold at auction for £19400.25 (no receipt of this amount), which Black Horse said left me with a balance of £17024.17. At this point I went to CAB who negotiated on my behalf. They achieved only a small reduction in charges. I cashed in an endowment and started monthly payments to Black Horse of £30 per month. (By this time Nationwide Collection Services Ltd had taken over the account.)

I paid Black Horse a further £9000.00 from the payback of the policy and continued to pay £30 per month, then after constant pressure from the collection company I raised the payments to £40 per month and then more recently to £50 per month.

 

I now have a balance of about £5000, which I cannot continue to pay at £50 per month. My partner has pointed out loads of discrepancies in the lack of accounts, and the fact that the vehicle was paid for within 3 years of the 10 year agreement, and that now they are just chasing for interest /charge payments.

The Financial Ombudsman was very sympathetic but could not take the matter further as it was unregulated.

A solicitor more or less told me to pay, and wanted loads of money in the bargain.

 

Is there any way I can get this debt looked at properly?

Is it possible to get the balance discharged or reduced?

Can they take me to court for interest charges, and keep adding to the account , as at the moment I am just sending £5 a month.?

It is no longer recorded on my credit file as in the words of Black Horse , “the vehicle has been repossessed and its more than 6 years ago?

Thanks for reading ...

Edited August 22, 2012 by susiebling365
punctuation