Van Repossession

[hobsondog]

Hi , its my first post so be gentle.

Hope im in the right forum.

I had 2 work vans repossessed.

They were on business premisis and not on the road

Both were full of work equipment about £3000 per van at second hand value

My questions are:

Was I meant to be told that they were repossessing?

What about all the equipment inside , can they just sell it?

I have found out that they were both sold well under market value £800 per vehicle including all the equipment ( estimated value £1800 each van and £3000 for equipment)

 

All help greatfully received

[Fair-Parking]

In principle it would appear that the bailiffs had no right of possession of either vans or tools as they are required for your business.

 

However you will need to furnish the forum with much more information, ie who repossessed them? (court bailiffs, sherriff's officers, private bailiffs) under what circumstances? (for tax? or customs and excise? etc) and what paperwork were were you served?

[I've got no money]

We do need quite a bit of information - what was the type of agreement, how much was it for originally, how much had been paid - by repossess do you mean that the a HP company took them?

[hobsondog]

hi all , hp reposession , ( was a chattels mortgage ) with personal guarentee.

loan was for 25,330 for 4 vans

paying 792.75 a month ( due for 36 months )

5 months 20 days into the agreement we sold 2 vans , paid them off by a card payment ( even have the time to the minute )

need to get to the figures but at least 12 to 15 months of payments and paid the lump off.

they didnt recalculate monthly payments or interest

it was the finance company that took them back in the middle of the night .

no letter saying that they were going to repo , but had been in contact with them by phone.

To rub salt in the wound , the finance company went to court to enforce the guarentee and got a charge on my house but included the 2 sold and paid for vans in the judgement ....

another thought as I type this , whqat does that do to the validity of there court obtained charge?

Hope this helps , will gladly provide more info if you need it

Thanks again

Hobbs

Edited June 9, 2008 by hobsondog
what I wrote was not correct grammer

[hobsondog]

forgot to add , we paid the finace company £7500 in the card payment