Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
Though it ISN'T ever explained to the loanee, these loans are secured by a 'Bill Of Sale' which is effectively the vehicle's owner transferring legal ownership over to the loans company, which is why such vehicles are repeatedly reportly snatched under very dubious circumstances, with or without keys, paperwork etc. The representative takes the signed piece of paper (the unexplained Bill Of Sale) to a solicitor who registers it with the High Court within 7 days of the agreement (or is supposed to), this (on the face of it) means they can (and do) take possession of the vehicle without any further court judgement.
Unfortunately until there is an effective court ruling, it is up to the loanee to instigate litigation in order to prove the legallity (or otherwise) of the loan and the fairness of any charges applied. There have been quite a few cases (some reported, some bound by confidentiality clauses) against Log Book Loans over the past 3 or 4 years, most have been settled out of court (i.e with LBL paying a sum of money to the litigation to desist to trial, such sums that could actually render the litigant liable for all sides' costs in the event of a similar amount being awarded at trial) in order to avoid any judgement on the legality and morality of such businesses.
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