Repossession of vehicle

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by shay » Wed May 09, 2018 9:29 pm
I have received a notice of termination letter from Blackhorse finance i am in arrears on the account, is there anything i can do to stop them repossessing the vehicle
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by luluj » Thu May 10, 2018 3:20 am
Are you in an iva ?
If yes, have you checked the small print re if in a debt solution whether it be an iva or bankruptcy what happens. I know that thay Blackhorse like to be kept informed if circumstances change.

How far in arrears are you ? Have you asked for a payment break on your iva to allow for missed payments to be paid ?

Have you had a full review of income and expenditure ? If affordability is tte issue then your budget needs to be reviewed.

Ultimately if you are in arrears and cannot negotiate a repayment plan with them then they will reposess the vehicle. They are quite a 'tough' company to deal with with little wriggle room.
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by Foggy » Thu May 10, 2018 6:52 am
I can only echo Luluj's thoughts. Black Horse are generally OK with IVA's if kept in the loop but arrears are a different kettle of fish and they can be quite prickly.
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Lisa Thomas
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by Lisa Thomas » Thu May 10, 2018 8:25 am
The only way to prevent it is to pay the arrears - whether you can do this with your IVA terms is a different matter.

You also need to consider why you have fallen into arrears.
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