Black Horse Loans Review

Overall Rating

can pay money very fast into account

where to start on the black horse sorry trail , after taking out a loan from black hoarse you are given two month free payments. well not quite. ahhh did no one say you are charged interest on the amount outstanding. at the time i was paying '£90.00 per month interest. all went well till my partner and i split up. as it was a joint loan i was left to pay all payments. black hoarse not interested in splitting loan. but did suggest taking a further loan out and pay half the original loan off with it. yes so paying interest on the interest outstanding so i didn't take this helpful advice as i would now owe two loans. i asked if the payments could be changed or loan taken out for longer as i could not pay the full monthly payments. i was told to take a payment holiday why i am not sure but there was another £90.00 interest added. at this point my father said he would give me £2000 to pay part off the loan. i was told when i get the money it would come off the total outstanding thus saving interest and to call back. but yes when i called back was told the person i talked to did not have the authority to say i could do that. and i could not make lump sum payments. i asked if i could have this in writing and was told no as they do no correspondence or confirm anything by post. and was asked if i would like a new loan, yes i to was amazed at that one to . by this time all the calls to black hoarse they were now on my friends and family list. and was starting to like there corny on hold music. yes get used to it they don't answer fast except if you want a new loan. i tried to take my partner off the insurance for the loan as this would cut the payments down but again when i called back, yes was told the person did not have the authority to do that either. and i was not allowed to speak to someone than could, and nor will they answer any correspondence by post or talk to me. i can back up all my points and there are a lot more. please contact me. this company will do anything to keep you paying interest. payment holidays bad advice. extra insurance every sad trick in the book. like unemployment cover when my partner was not working. get everything clear in writing first from them. think hard BEFORE you take there advise. better still just find another loan company because when it goes wrong you are on your own

Members' Comments onpeter hend1's Review

• sue webb on 8th Aug 2008

  I was sold an insurance cover with a Loan from Blackhorse.
  I paid £3,300 and was told this was Life, accident, sickness etc.
  When I became redundant, they said read the small print, you do not have a TICK in the recommended insurance which means yours is life policy only.
  My first loan was 4months old when I cleared this £13,000 loan off and borrowed a second amount of £11,000. for house improvements. I was charged again £3,300 but the first £3,300 was not discounted, I just found out. I am currently asking why as I only had the first loan 4months........