Not sure if this has been posted elsewhere but here goes,

Department for Business is seeking views on three options :- outright ban for consumer lending, voluntary code of practice or targeted reform of legislation. In 12 months, 40 000 such loans resulted in 1000 complaints to OFT.

Very tight on time for responses - wanted by 15 March,
Bills of sale are being used to support "log book" lending, namely lending using cars as security. This practice has been the subject of relatively high levels of complaints to consumer groups and the OFT. Bills of sale are written in complex, old fashioned language that consumers often cannot understand. Consumers may have their assets – typically their cars – repossessed without the need for the lender to obtain a court order. This consultation seeks to address concerns about adverse outcomes for vulnerable consumers where borrowing is secured under a bill of sale.
We want a better deal for consumers who have been using this form of subprime loan and to tackle any areas of emerging bad practice, while ensuring that any intervention is proportionate, transparent and targeted. We believe that a ban on using bills of sale for consumer lending is likely to be necessary to achieve this.
http://www.berr.gov.uk/files/file54079.pdf