Black Horse - HELP MELANIE!

[lucy.f]

Hi All

I joined in with Lisa's thread earlier on and I'm anxious about these people (BH). Up until now, they've been very friendly and seem to want to help but then I'm only 1 payment behind now.

Melanie, I've spoken to Tina and we're organising all the paperwork for Sarah now (just waiting on loan confirmation from Direct Line and also confirmation from mortgage provider what our new payments will be from 1st June) - other than that, all set to send to you.

However, seeing your reply to Lisa on Black Horse, I am concerned. I have two loans with BH which individually do not total £7.5K but collectively they do. Also, smaller loan only has 10 repayments as I was offered a loan holiday. In the bigger picture, they don't total a very high percentage but are you saying that Black Horse will not look at an IVA under 12 months and also if they add both loans together, they will total more than £7.5K so will automatically be rejected?

I am sorry, I know you haven't had the benefit of looking into our case properly yet but I'm totally worried than even if we offer a dividend of 50-55p in £1 they won't even look at it if I've understood your reply to Lisa correctly???

Melanie, if you read this, would appreciate any comments.

Many thanks
Lucy and Gary

[MelanieGiles]

Hi Lucy

Obviously I will need to look at your case in greater detail before advising further, but Black Horse may only be a problem if they represet more than 25% of your overall debts. From your note it appears that this may not be the case, so don't worry.

I know the people personally who deal with all of Black Horse's voting, so if I feel there may be a problem I will speak to them first.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[lucy.f]

Hi Melanie

Thanks so much for replying early - as you can see I was up pretty early myself (can't sleep these days!)

Yes, BH only represent about 10% in total of my loans and obviously even lesser % with joint proposal with hubby. I'm pleased you seem to have good contacts with them and this is reassuring too.

As you know we have a caravan HP agreement with them too (payments up to date) and if, as we're hoping following our brief discussion with you, we 'hand it back next year' after paying 50% of HP agreement, they will also have a caravan worth quite a bit (not to us but certainly to them). The site where we're located would sell our caravan next year for about £14K. Could this be used to persuade them to help us too given we'd of paid 50% of HP agreement and also 'given back' an expensive item??

Your paperwork says not to return anything until we have everything. I possibly won't have this for another week or so, shall I wait or send in what we've got now with note these two items will follow?

Sooo pleased you're back off holiday (even though you might not be!)

Thanks again

[MelanieGiles]

Lucy

Send the information in in bits and pieces if you like, so at least we can make a start on processing your case. In particular I would like to see the Black Horse agreement for the caravan to ensure that it is actually a hire-purchase agreement.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[lucy.f]

Hi Melanie

You got me worried then! Couldn't wait to rush home and make sure it is HP. Yes, it certainly is. I even called BH to make sure I wasn't going mad and they confirmed, yes HP for caravan account, which means I can return to them from Sept 2008 with no penalties. Also increase IVA payments from Sept 2008 by £69.00 per month (HP payments now) (assuming we can get accepted that is!)

I will collate everything else as one of the items I was waiting for arrived today. Hopefully will be able to send you the full picture within couple of days.

I had a thought last nite too. Our secured loan with Firstplus had a funny rebate clause too which I must 'phone them about. Seem to remember that if we 'didn't' claim on our insurance policy we took out with them within first 5 years, we would get a rebate on the insurance premium paid. I will ask them what this would be and let you know as presumably this can get put into the pot too?

I keep trying to think of things to make our case look more attractive to these people!

Thanks again Melanie.