Black Horse and credit report not the same.

[cul8rm8e]

The credit report i just accessed today shows that the secured loan with Black Horse is for 64 months when it is only a 60 month loan term.

As they have passed all the loans to Skye Loans Limited and when they contacted me to let me know it had been sold to them, i couldnt figure out why a 60mnth loan term could start on March 2011 and due to finish on July 2016, now i see why they think it finishes 4 month later than supposed to, the ******* at Black Horse have told them it does.

What can i do about this and where should i start?

thanks

[nemesis45]

Re: Black Horse and credit report not the same.

The credit report i just accessed today shows that the secured loan with Black Horse is for 64 months when it is only a 60 month loan term.

As they have passed all the loans to Skye Loans Limited and when they contacted me to let me know it had been sold to them, i couldnt figure out why a 60mnth loan term could start on March 2011 and due to finish on July 2016, now i see why they think it finishes 4 month later than supposed to, the ******* at Black Horse have told them it does.

What can i do about this and where should i start?

thanks

Start with company that is named on the credit report as the " owner" of the account, make
a Formal Complaint addressed to " The Data Controller" send a screen print of the CRA entry
with the complaint.
Which credit reference agency are you using? The 3 main agencies Equifax, Experian, Call Credit
will probably all hold the data, it would be advisable to check all the agencies.
There can be simple " clerical " errors made when reporting.
You can place notices of correction/dispute on the credit files stating the loan term is incorrect.

nem

[Sparkie1723]

Re: Black Horse and credit report not the same.

On certain loans Black Horse allow a 4 month delay period for repayments to start.....check you did not have one of these loans..............having fought Black Horse for 15 years regarding a finance agreement which is still continuing as of today.......I can claim to be a bit of a knowledge base on Black Horse..............you may have signed the agreement giving you a "4 month holiday" before the payments were due to start.
Rambling Sparkie

[Debt Camel]

Re: Black Horse and credit report not the same.

It isn't clear to me that this is credit reporting problem at all. You may have the more fundamental issue that Skye thinks you have to make 4 more payments than you think you should.

I suggest you should start by contacting Skye and asking them when they think your last payment should be made. If they say March 2016, ask them to correct the credit entry. If they say July 16, ask them to produce the loan documentation to support this. And you may want to get hold of your back bank statements proving when you started paying.

[cul8rm8e]

Re: Black Horse and credit report not the same.

On certain loans Black Horse allow a 4 month delay period for repayments to start.....check you did not have one of these loans..............having fought Black Horse for 15 years regarding a finance agreement which is still continuing as of today.......I can claim to be a bit of a knowledge base on Black Horse..............you may have signed the agreement giving you a "4 month holiday" before the payments were due to start.
Rambling Sparkie

Sparkie the loan repayment started immediately, it was within the first month of the agreement

[cul8rm8e]

Re: Black Horse and credit report not the same.

It isn't clear to me that this is credit reporting problem at all. You may have the more fundamental issue that Skye thinks you have to make 4 more payments than you think you should.

I suggest you should start by contacting Skye and asking them when they think your last payment should be made. If they say March 2016, ask them to correct the credit entry. If they say July 16, ask them to produce the loan documentation to support this. And you may want to get hold of your back bank statements proving when you started paying.

Already have all the bank statement showing all payments.

it was with black horse for 51 monthly payments from march 2011 to May 2015 before it passed to Skye Loans for the remainder of 9 payments.

Skye loans have said that there was 14 payments still required and the loan date was to finish on 1st July 2016

I have done all the figures and compared to statements, at the time of Skye loans taking over there should have been outstanding balance of £2200 but for some reason Black Horse have updated the Credit File on 3rd June 2015 and show a balance of £3,700 at that time, there is also the issue that Skye Loans said shortly after taking over there was an arrears of £360 on the account which was paid immediately and at the time had no idea how that was possible but decided to sort it and resolve the issue later as it was secured on the house.

Somethi9ng clearly doesnt add up and i want answers!!!

[Amethyst]

Re: Black Horse and credit report not the same.

Subject Access Request to Black Horse and Skye I reckon is needed. Also a CCA request to Skye (as they own the debt and thus are creditors) to get the original loan doc. ( unless you happen to have it handy ?)

[Sparkie1723]

Re: Black Horse and credit report not the same.

Keep disputing this with both Black Horse and Skye................I have a little bit of info where Black Horse use an account record system that has " constraints " in it and cannot record account data with 100% accuracy in certain cases..................yours "appears" to be one of those they haven't recorded properly from what you say.
I have the ICO looking into this aspect at this very moment:tinysmile_twink_t2:
Sparkie

[Debt Camel]

Re: Black Horse and credit report not the same.

Already have all the bank statement showing all payments.

excellent

it was with black horse for 51 monthly payments from march 2011 to May 2015 before it passed to Skye Loans for the remainder of 9 payments.

Skye loans have said that there was 14 payments still required and the loan date was to finish on 1st July 2016

I have done all the figures and compared to statements, at the time of Skye loans taking over there should have been outstanding balance of £2200 but for some reason Black Horse have updated the Credit File on 3rd June 2015 and show a balance of £3,700 at that time, there is also the issue that Skye Loans said shortly after taking over there was an arrears of £360 on the account which was paid immediately and at the time had no idea how that was possible but decided to sort it and resolve the issue later as it was secured on the house.

Somethi9ng clearly doesnt add up and i want answers!!!

Indeed. But as I suspected, you don't have a credit file problem - your problem is that Skye have the wrong end date for the loan. This may sound pedantic, but you can end up wasting a lot of time arguing with a firm about what is shown on your credit file when actually there is a basic problem with their loan recording. If they put that right, your credit file should correct itself

So what I suggest you do now is write a letter to Skye with COMPLAINT in capital letters at the top.

Say you took out a 5 year, 60 monthly payments loan on dd/mm/yy. You made the first payment on dd/mm/yy and have made the following monthly payments afterwards - list them all including the "extra" £360. Sat you have the bank statements to prove these were all made. Point out that the balance on your account is now £xxxx and you have x monthly payments remaining.

Ask them to confirm that they agree with this and correct their files.