www.iva.co.uk

hi there, i have enterd an iva, and in my agreement it states that i must sell my motorbike which is on a fixed sum loan agreement, but black horse will not take it off the the hp check, so i cant sell it? black horse's reps agreed to these terms at the time of the creditors meeting, its in writing! but black horse are saying they didnt agree.

Hi alis and welcome to the forum

Black Horse have to take the vehicle off the HPI register as they should not have included it in the first place. This seems to be a real problem with this particular creditor, so try to speak to someone in authority and threaten to report them to the FSA if they do not comply.

If the bike was funded through an unsecured arrangement then Blackhorse should not have listed it as an HP. I agree with Mel, call Blackhorse and demand that they either remove their HP flag or you will take it further with the FSA / Financial Ombudsman.

hi, thanks for the infomation, so a fixed-sum loan agreement isnt hp? should my iva supervisor be contacting black horse on my behalf? because ive tried with black horse and they wont take it off.

You will need to examine the wording of the agreement carefully, and your supervisor can assist with this.

hi Alis
i have the same problem with black horse to and have had for over 2 years now , it has cost me about 40quid so far checking if the hp mark has been taken off ,i am about to check one last time as my ip now assures me that they have done it ,they will not put it in writing that they have done so.Seems to me that its a last chance pop at those of us unfortunate enough to be in this position, i will update you when i have checked again if its not off this time maybe its time all those in this position got together and complained on mass to the fsa to sort this company out once and for all !
all the best mick

I had the same situation but with GE Money. They did take off the flag after I phoned them and asked them to confirm that the agreement was not HP and that they had no claim on the car-remember that the calls ARE recorded, write down the name, time etc when you contact them for future ref as you will need this if you request that the call be 'pulled' to back up your case. Luckily for us, we knew the dealer and we could explain, without any embarrassment, our situation, he contacted a previous rep from GE who confirmed that this was the case with the HP flag and he said that they do it all the time...It is frustrating and difficult put it can be done, stick in there.....

HI again
I checked the hp marker and it has now been removed , it has taken a while and i am not sure that the ip would have done anything about it had i not threatened to stop payments go bankrupt and report them to god if they didnt start doing some work on my behalf for the over inflated rates they have charged !! so stick with them and keep on at them until they get it sorted we are in debt not criminals!

good news taz, shame you had to resort to threats though.

if it gets the job done !

The reason Blackhorse put these cars/bikes on the HPI register is due to the wording in the terms and conditions, which states that if the goods are sold or disposed of then the account needs to be settled in full or the sale proceeds paid in full to Blackhorse
They do this to protect the goods that the loan has been given for.

Hi
But if it is not a HP agreeement then they have no legal rights to the goods
Regards

Absolutely correct Andy. Title to the goods passes upon delivery with no ability to charge or prioritise against the sale proceeds.

It does make it a monumental pain in the backside though and very difficult to explain to potential buyers as it looks like your trying to con them.
It makes me wonder how & why they continue to get away with it, surely there have been complaints??? Surely should the FSA not step in and slap their wrists????
It seems to me to be the same old practise of taking advantage of people who are ignorant of their actual term & conditions and consumer rights....I wouldn't have known any different if it wasn't for this forum...