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Log book loans repossesed my car

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But I don't care. i took out a loan of £2,000 on it. The car was only worth aroung £800, so they made a mistake there anyway. I asked for an early resettlement figure which was about £4,000. Told them to get lost, and they repossesed it. Got a letter saying they sold it at auction for £250 and I owe them the rest. That was 12 months ago and nothing since. Have they given up, and has someone finally won against LBL?


Lets all get our own back on them. buy a car that is basically scrap, but would be worth a bit if it was on the road, take out an LBL against it and let them reposses it!!!!


what are the legalaties of getting a car crushed, then letting them reposses it - is that legal?????


sorry - but I have had enough of these cowboys - so lets screw them up proper!!!!!

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No, it means the debt is secured on the item on the bill of sale.

Not that the LBL agents explain any of this when they ask you to sign.

Which is very naughty indeed

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The BILL OF SALE must be registered in the High Court of Justices for it to be able to be executed. A vast majority of Finance companies do not do this.


Unfortunately this does no help you now because your car has already been repossesed.


You are still liable for the money you owe LBL although the legality of them repossesing the car in the first place remains an issue.


I would request a copy of your Consumer Credit Agreement along with a copy of the true & executed BILL OF SALE. a £1 charge is applicable.


If you need me to draft a letter for you to send, let me know.

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There are most likely several issues that will invalidate the security and the terms of the loan itself, however you will need to take legal advice. There is a firm of solicitors offering pro-bono (free) advice who can help you. I'm not allowed to say their name but if you pm me I will let you know

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