We've had arrears and defaulted on a secured loan with blackhorse due to my partner being made unemployed and they have threated to repossess and passed to there solicitor Mrs Jill Foster of Sechiari,Clarke & Mitchell in Cardiff

We have still been trying to pay what we can each month as a token payment they should be £430, we have made payments between £50-£140

We have managed to get an agreement to remortgage with another comp but can only release £12k now (due to arrears)which will take the mort to 80% and in 6 months time providing we make payments to them and blackhorse they will release the remaining £8k to clear it,all blackhorse have to is sign a new deed of postpoment for the £8k (they are already 2nd charge for £20k) during the 6 month period we have offered to pay £160 a month which is a figure they have calculated to be correct on the remaining bal of £8K ,we even have a relative who will act as guarantor.

The manager of the office orginally agreed to this and asked our new mort company to fax over new valuation and figures, he then stalled for 2 days and when our new mort comp called to chase he said he wasn't preapred to do this, the lady at the new company said are you going to tell them, he said no you can. We later rang him and asked what was going on and he said they are still in a good position and he wants his money now, all of it and he is not prepared to wait,(and funnily enough they don't record their calls so we can't prove he said yes- as hes now denying he agreed to it) we now have to deal with there sols who are extremly rude and unhelpful but is asking us to provide something she knows we cant. To stop further action they have said they need written proof that in 6 months time we are guaranted to have this money, which the new lender is not prepared to do as it is implying that we will make payments to them and blackhorse.

They initially asked for a guarantee that we wouldn't default on the new monthly payment, we have now provided this guarantee and now they are asking for a guarantee that we will have this £8k from our new lender in 6 months time, they seem to be putting everything in the way they possibly can and every offer we make or obstacle we overcome they put something new in the way. As an example the solicitor said on tuesday that she would give us a week to sort this out before she took action to the court, since then she has been off on wednesday, she is off on friday they obviousely dont work sat and sun and she is also off on monday, so the week she gave us has now become 3days!! and to top that off she has told us today that if we are able to get a guarantor for the 8k we have to have the new mort in place by the 15th of dec!! how are we supposed to do this if they are constantly stalling and putting things in our way!!

We don't know what to do know?? Please help !!

-- Craig Carter (craigc71@hotmail.com), November 27, 2003