VT - Black Horse

[Chanay]

Hi,

I’m looking to VT as soon as possible as I have negative equity on my car and wanted to lower my monthly payments on a new vehicle ahead of applying for a mortgage early - mid next year.

I have spoken with Black Horse ahead of doing so a few times, and earlier in the year was told I would not be perused for excess mileage charges but needed to get to 50% paid (which I knew I was a few payments off) ...

Upon confirmation today, I am beyond my 50% but was told I would be perused for around £2400 excess mileage charges as the finance company are now doing so more forcefully since Oct 2020 (The man on the phone said T&Cs have changed, that they have always been there but now followed through - Then back tracked when I asked why I have never been made aware of T&Cs changing)

I asked if I done a VT can I pay the charges on a payment plan (if I wasn’t sure if you take the risk challenging back and forth)... customer service told me I would be able to have a payment plan but still be defaulted on my credit file.... untill fully paid at which point is would be a “settled default” . Is this possible? Can I be defaulted for making arrangements to paying?

[Chanay]

Hi,
rob ... Can you please help here?

ive read and got templates to prepare challenging but any additional advice / support will be much I appreciated.

I have now VT’d with some difficulty but received acknowledgment today after 3x follow up phone calls and difficulty trying to obtain an email address of any kind to ensure it was sent / resend!

Worried about the excess mileage now & them defaulting me ahead of applying for a mortgage this year.

thanks in advance

[R0b]

Nothing much more I can add other than what is already in the VT Guide. I would suggest you start a formal complaint and take it to the Financial Ombudsman who seem to have put a hold on excess mileage cases since like 3 years ago which I think is a total disgrace but there we go. However, that should stop BH in their tracks and of course if they try to apply a default then you either hold out and wait for the FOS come back to you (if they do) or you take the game to BH and threaten legal proceedings.

Unfortunately there's limited options and all part and parcel of the VT game. Theres good supporting case law to back up any claim you would have against BH but it takes someone with guts to go all the way, have a go and if successful, that's when lenders tend to back off somewhat.

If you are so worried they might default you, consider paying the excess mileage in one go but bear in mind they could still default you and then you're probably in a more difficult position of having to splash out more money to try and fix it.

[Chanay]

Thanks!

Much appreciated!