Hilsden Securities

[monica32]

Hello all. I am looking for advise please. I had a personal loan with Black Horse. Due to financial dificulties I have stopped payments, and debt has been sold to Hilsden Securities. I have agreed to repayment plan with them, and have been paying them promtly ever since. Recently they have send me statement and I have noticed intrest had been aplied every month. Letter has been sent to Hilsden asking for clarification whether they have a right to do so. As i have read on this forum that when the debt is purchased it has to haveca clause allowing purchaser to apply intrest.
Hilsden replied advising that when they acquired debt from Black Horse they have also aquired all rights abd responsibilities which includes right to apply intrest. They have attached one page of terms and cobdition from our agreement with Black Horse.
How should I respond?
Any help is greatly appreciated.
Many thanks in advance.

[pt2537]

Re: Hilsden Securities

Hello all. I am looking for advise please. I had a personal loan with Black Horse. Due to financial dificulties I have stopped payments, and debt has been sold to Hilsden Securities. I have agreed to repayment plan with them, and have been paying them promtly ever since. Recently they have send me statement and I have noticed intrest had been aplied every month. Letter has been sent to Hilsden asking for clarification whether they have a right to do so. As i have read on this forum that when the debt is purchased it has to haveca clause allowing purchaser to apply intrest.
Hilsden replied advising that when they acquired debt from Black Horse they have also aquired all rights abd responsibilities which includes right to apply intrest. They have attached one page of terms and cobdition from our agreement with Black Horse.
How should I respond?
Any help is greatly appreciated.
Many thanks in advance.

Hi,

Have you got a copy of your agreement from when you opened the account?

If not, then you could make a request under s77(1) Consumer Credit Act 1974 as long as you send the £1.00 fee with the request, they should provide you with a clear legible copy of the agreement, which then will you the rights and obligations under the contract

[nemesis45]

Re: Hilsden Securities

Hi Welcome.
Before considering a response, please provide the following.
The date the account was opened?
The Date it was defaulted?#
The amount owed?
A copy of the letter/T's & C's you have received.
Personally I doubt their right to apply interest.

nem

[monica32]

Re: Hilsden Securities

Hello,
Account has been opened in 16/02/2011. In October 2012 due to finacial dificulties I wrote to BH and asked for reduced payment plan which was agreed.
in April 2013 BH has passed account to Ascent Legal. In July 2014 they have sold it to Hilsden Securities Limited.
I have sent SAR reqest when BH sold the debt. Looking through it now there is ni defoult notice.
The amount owed is £5134.
Thank you

[monica32]

Re: Hilsden Securities

I have attached letter received from Hilsden together with one page of terms and condition from my agreement with BH.
Thank you for all help and advice.

[nemesis45]

Re: Hilsden Securities

Hi,

The page of T's & C's is to small to read I'm afraid even when magnified it's too blurred.
Please type up the section re the interest and right to charge it.

nem

[monica32]

Re: Hilsden Securities

Hello,

Intrest will be calculated at the intrest rate shown on page 1 on the daily balance outstanding on the Account and debited to the Account on the last day of each calendar month.( after as well as before any judgment)
Thats all it says regarding intrest.
On page one
Financial information
amount of credti: £9000
total charge for credit:£4.334.40
total anount payable: £13334.40
APR 17.9%
Intrest ratw 16.70% per annum

[nemesis45]

Re: Hilsden Securities

Emm can't see that allows Hillesden to add interest after they acquired the account, let's get some more opinions on this.
I seem to recall something about Hillesden and interest some years ago.
Perhaps Amethyst may know.

nem

[monica32]

Re: Hilsden Securities

Great thank you. How should I cobtact Amethyst?

[nemesis45]

Re: Hilsden Securities

Great thank you. How should I cobtact Amethyst?

Amethyst will pick up on the name mention in the post and will respond when able, bearing in mind it is Sunday afternoon.

nem

[monica32]

Re: Hilsden Securities

Morning all,

Is anyone able to share their wisdom on my case please. I was thinking of sending another letter requesting proof that assignment was absolute, but after checking my Cra file Hilsden is on it as debt owner so I supose that is my answer.
Thabk you in advance

[nemesis45]

Re: Hilsden Securities

Yes correct Hillesden are debt purchasers.
nem

[monica32]

Re: Hilsden Securities

Hello,

Could anyone answer my question regarding intrest applied by Dca to my debt pls?

[nemesis45]

Re: Hilsden Securities

That will be dependent on the terms of the original agreement.

nem

[monica32]

Re: Hilsden Securities

Nem,

I have read terms and conditions and only part that is relevant to it says:
'We may transfer any of our rights and duties under this agreement.'