Black Horse selling on non default HP agreements to Hillesden Securities Ltd

[Alan Large]

Not sure if I should be worried about this or not...but I am?

Currently have an HP agreement with Black Horse which is due to finish this summer. It is not in default and I have not missed any payments.

On 28th Jan this year I received a letter purporting to be from Black Horse on their headed note paper stating that the account was sold to Hillesden Securities Ltd T/AS dlc on 20/12/2013. The balance was quoted as £4,700.00 which is wrong. On 2/12/13 my Black Horse statement shows outstanding balance as £3,800 with another £450.00 having gone through at the beginning of Jan.

Hillesden do not appear to have a record of the account yet but state they are having problems loading details of recently purchased Black Horse accounts.

Black Horse state that the letter on their headed paper signed off by Inchcape Finance has in fact come from Hillesden. They confirm that the account has been sold as per a normal business deal and not due to any default. The original loan was taken out through Lexus Guildford who I understand are part of the Inchcape Group.

I have had no official communication from Hillesden about future payments.

Should a be worried? This is totally unnecessary hassell and I am now expecting at some point to be subject to some heavy handed treatment from Hillesden when they get up to speed with their accounts.

[mystery1]

Re: Black Horse selling on non default HP agreements to Hillesden Securities Ltd

All you can do is keep records and reply to any wrong information and/or harassment in case you need to make complaints and possibly take court action. http://www.bailii.org/ew/cases/EWCA/Civ/2013/882.html

M1

[Sparkie1723]

Re: Black Horse selling on non default HP agreements to Hillesden Securities Ltd

Did your agreement have a clause in the terms and conditions stating that they could assign/sell the agreement at any time??

Sparkie

[Alan Large]

Re: Black Horse selling on non default HP agreements to Hillesden Securities Ltd

Yes as I understand it.

There is a clause stating that they may transfer any of their rights in the Good and/or rights and/or obligations in or under the agreement to any other person. As I understand it, if they have done so, Hillesden have to continue under the same terms and conditions. We haven't heard from them yet!

[Sparkie1723]

Re: Black Horse selling on non default HP agreements to Hillesden Securities Ltd

Yes as I understand it.

There is a clause stating that they may transfer any of their rights in the Good and/or rights and/or obligations in or under the agreement to any other person. As I understand it, if they have done so, Hillesden have to continue under the same terms and conditions. We haven't heard from them yet!

Then I would bear and keep in mind that the OFT have deemed that this term is considered by the OFT as an unbalanced term under the Unfair Terms in Consumer Credit Contracts.

Sparkie

[pt2537]

Re: Black Horse selling on non default HP agreements to Hillesden Securities Ltd

interesting

So who is the owner of the goods? under HP its not until the last payment that title passes to the debtor, so who has title to the goods now?? is it Blackhorse or Hillesden?

This is going to be very interesting indeed.

[Alan Large]

Re: Black Horse selling on non default HP agreements to Hillesden Securities Ltd

The letter with the Black Horse logo states:-

"We hereby give notice of the assignment of the debt due to us from you in respect of the balance of £x (clearly incorrect as of 30th December) outstanding on your Inchcape Financial Services Ltd account.

On 30th December 2013 you account was sold to Hillesden Securities Ltd, trading as dlc

Any further communications and payments, including payments under existing arrangements with Inchcape Financial Services Ltd must therefore be addressed to dlc at .... address / phone number:-"

Signed off as squiggle Inchcape Financial Services Ltd with no name given.

Having rung Hillesden and them failing to find a record of the loan is the onus now on me to chase them or do I now wait for them to get their act together.

[enquirer]

Re: Black Horse selling on non default HP agreements to Hillesden Securities Ltd

As mystery1 suggests, make sure that you keep all your paperwork - particularly the letter stating that the account has been sold as part of a normal business transaction, and not due to default.

I have a feeling that we will be hearing more of this in the future.

[Alan Large]

Re: Black Horse selling on non default HP agreements to Hillesden Securities Ltd

The letter does not state that the loan has been sold on as part of normal business. That's what Black Horse has told us over the phone. They have also sent us a cheque for £50.00 for the inconvenience. What they haven't confirmed in writing yet is the final balance after all our payments. As stated above the dodgy letter notifying us of the transfer to Hillesden is clearly incorrect.