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Hello guys, long time no post!!:)

 

Quick question... I have an active agreement with MM and its term is up at the end of this month. They have very kindly offered to renew it for me, which I 100% dont want to do and I also cannot afford to settle the debt.

 

My question is, I have been offered a nice sum for the car. Am I allowed to sell it? If i do what will MM do if I dont pay them? are they allowed to repo the car from the new owner?

 

Any advice welcome.

 

Cheers,

 

UKD

PS just started my case with the solicitors you guys recommended. Looks good!!!

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They can and will repo car from new owner that what happened to us. We got a car last April and it was reposessed in december 08. The person we got car from had a lbl on it and didn't pay.

 

We stand to loose nearly £5000.

 

Read the thread 'are you third party victim' this will give you our story.

 

We got solicitor and local mp fighting for us. Don't sell your car.

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As soon as the new owners purchase the vehicle and register it with the DVLA. Mobile Money will find out whom the new owner is and tow the car away. In short until you pay the loan off, Mobile Money own it.

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  • 2 weeks later...

if you have a loan with [this company], i understand that they must register the BOS with the high court within 7 days. A couple of questions:

 

1). what happens if they have not?

2). if they have, but then the loan is extended (ie another agreement taken out after the initial 6 month period), then do they need to re-register the BOS or does the original one continue?

 

Cheers

 

UKD.

Edited by alanfromderby
legal reasons
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