Black Horse/Skye Charges

[francoe]

Cheers for that Martin

Letters on way then.

Will update in a couple of weeks or sooner if I receive a reply

[Nihilus]

Sounds like you've received a complaint acknowledgement, you'll get a final response letter within eight weeks of your complaint being made.

 

Why would you jump to MCOL following that? They have acknowledged your complaint and refusing to wait on an outcome would probably be in breach of pre-action protocol.

 

The fees look excessive so Black Horse may offer to refund the fees, although if you were in arrears they probably won't refund all of them.

 

How much they refund will likely depend on your account conduct, if you were in arrears for an extended period (your posts indicate a multi-year period?) then there may genuinely have been quite high costs associated with the management of your account.

 

Also noteworthy is that Skye reference deferred interest, have you queried that or were you aware that interest had been deferred? That would probably explain why the loan balance didn't match up with the terms of the original agreement, you did also go into arrears so likely also incurred further interest on that arrears balance.

 

It may have been interest on the arrears that they deferred, if they capitalised it without your knowledge or consent that's probably worth looking at.

 

Either way just wait on the complaint outcome, trying to go via MCOL straight off the bat is not a good approach. If you do decide to go down that route I recommend reading the pre-action requirements.

[francoe]

An update required after post from Nihilus

 

I did not send out the LBA because of the reply I received from Black Horse(which is attached)

 

I did not send LBA because of the wording of there reply but because it was close to resolving the issue of the fees.

The only problem I need to resolve with Black Horse is the amount they say I have paid, up to the point of transfer to Skye loans as they have missed a payment.Once I have finalised the transferred balance I can then continue with Skye loans as this would make anything Skye Loans are quoting totally wrong.

 

The outset of the original post was to get the charges refunded, the over payment and for a zero balance, account closed and finished with.

 

So you see once I can resolve the missing payment issue and agree the transferred balance I can continue with Skye as Black Horse are only dealing with it up to the transfer point.

 

Hope this make sense but I thought it was moving towards our aim.

Thanks

[Nihilus]

That's nice, congrats on getting the fees waived!

I love the wording in their letter as well

"We admit no fault, but here's all of those fees back."

Sounds like they were applying them without actually doing any collections work

 

So this missing payment, have they definitely missed a payment or is it just that you made all the payments under the original contract terms and think the balance should be £0.00?

 

Because if it's just the balance not lining up with what you expect based on the credit agreement then I think they may have answered that question when they reference additional interest.

 

Similarly Skye alluded to this earlier when they mentioned deferred interest,

it looks like both companies worded it pretty badly and didn't really explain anything very well

but the balance took longer to clear than stated in the credit agreement due to interest incurred on your arrears.

 

This would have either slowed down the rate of capital reduction or been added to your default balance,

depending on how Black Horse applied the interest arrears.

 

If I've misunderstood and they just missed a payment and it isn't showing on your account,

do you know the date of said payment?

Should be pretty easy to evidence with bank statements/Black Horse statements.

[francoe]

Well I can understand what you are saying if we where quoting balances regarding interest.

 

Quoting from the letter and all charges aside

 

"Having calculated the balance that was with Black Horse (no balance figure quoted)

I can confirm that you made payments totaling £22,2532.32(actual monies received regardless of when)

 

Your agreement states that in order to to complete your obligation you are required to make a minimum amount of £25,053.40.

 

 

If an arrears balance accrues on the account the total amount payable will adjust to reflect this as additional interest will become payable

no mention of whether there was or that it did and no figure quoted)"

 

I made my calculations based on original & copy statements to track payments made.

I also last night went through all bank statements to cross check payments whether made by CHQ/DD or POS.

My payment total amounts to sum of £22,832.32 , that is a difference of exactly £300.00.

 

 

I found a payment made to Black Horse on the 15/12/2010 by POS.

 

We can not talk about interest accruing on arrears until the wording of the letter is changed.

Is this correct or am I getting something wrong?

Thank you

 

Sorry, edit to post

The payment that was made on 15/12/2010 by POS was exactly £300.00

 

based on calculations

 

Black Horse confirmed payments received £22,532.32

 

My actual payments made £22,832.32

 

there is a payment made by me from my bank which is missing of £300.00

 

as far as I understand thats before we start talking about balances