Blackhorse credit co is asking for more money to be up to date on my credit agreement

[Biglips]

we've already paid them an extra £50 last month. The credit is for the payment of the DFS couch and it due to finish in march 07.

Before Xmas i forgot that i had Add protection pymt plan so im waiting for my ex-boss to post back the claim form so ican post onto the co who will be dealing with this

At the begininning we paid off a massive lump sum to bring down our monthly pymt. One of the blackhorse staff gave the wrong money amount for us to pay off up to date.....now Blackhorse are demanding another £120 to update the pymet..which i havent got at this moment but was hoping any outstanding cost in march we will pay the rest off which is 2 months away

what do i do??

i was made redundant in march 05 and had been signing on since

Have you technicially defaulted ie. paid less than your contracted monthly installments plus the insurance policy ? If so you could make an offer to pay back at a lower amount but suggest you take it all - cointract , statements etc - to CAB and review it all. Is the loan for the full amount or the cost less the lump sum ? Sometimes you will find that paying off early is of little benefit overall as there may be a penalty.

it is the full amount...

i know that i will have to carry on paying towards the end and yes i know about paying it off early too but not got the mo atm due to xmas just gone...

so will they compromise with me as ive never had any probs for the past 3 yrs till now

If you agree you owe them that amount you can make an offer to pay it back - CAB will be able to work out with you what might be a reasonable enough amount fro them to accept to tied you over. Cost of Christmas isn't a great excuse though

thanks LIZ - i will call them today as they need the pymt today (wthin 5 days or they will fine me!) but only got the letter on Friday afternoon and the 5th day is today so i havent got the chance to go to the CAB

Check it isn't 5th working day . There are also free National Debtline and CCCS who could advise you.

yes coz letter is dated 23rd jan "If you have a payment is the last 5 days, please ignore this letter"

thanks i will have a read of it when my dd finished painting

Isn't that just saying if you have already paid (ie if your payment and this letter have crossed) ignore the letter ? Not that you must pay up within 5 days.

i havent paid it yet and it said that i must do so immediately and may make additional arrears too...or otherwise they will have to inform the Credit Reference agencies which will make it difficult for me to arrange credit in teh future !!

tight arse!! as ive got an excellent credit rating too

im just waiting for my partner to come home to sort this out

Have you sorted it out now ?

yes all sorted.....

they also tried to charge us £50 for admin paperwork too that was inc in this pymt!!...but my dp managed to get them to knock it off as it was their fault that they cocked it up and also we've been an excellent payer.