Log Book Loans info required

[misscher33]

A close friend of mine obtained a £750 loan from this company. She misplaced her V5 and they insisted that she do a conference call with the DVLA to confirm that she owns the car. Anyway, she fell into arrears and they are going for repossession. The car was signed up on her property by the agent and she lives in Northern Ireland. Do these people not require a court order before they take someones car? they also said they are charging interest daily and £12 per letter I think.

 

Any ideas?

Thanks

[trooper68]

A close friend of mine obtained a £750 loan from this company. She misplaced her V5 and they insisted that she do a conference call with the DVLA to confirm that she owns the car. Anyway, she fell into arrears and they are going for repossession. The car was signed up on her property by the agent and she lives in Northern Ireland. Do these people not require a court order before they take someones car? they also said they are charging interest daily and £12 per letter I think.

 

Any ideas?

Thanks

 

 

Hi Misscher33

 

Welcome, HIDE THE CAR, they will take it. Hide it well away from the home, they have been known to follow the owner. The next thing would be to check the BoS, it must be done in the High Court within 7 clear days. It must be signed and witnessed by a third person who is not part of LbL.

 

Read the posts on this forum, it will make thing alittle clearer.

 

trooper68

[seekeroftruthandjustice]

Jeez, this Co sounds worse, the more I dig the worse it gets

I assume you have made an offer of payment / made some payments to at least show willing?

[lostinspace1000]

keep away there loan shark loans, i got 500pound. been paying them 92 a month for the last 12months and still have 6 months to go. at one point there were charging me 3 times a week for phone calls which i never received. one story i got was that i wasnt at home at 1030am so they tried again at 1130 am....bloody twats i was at work an they charged me 12pound a call.

[trooper68]

keep away there loan shark loans, i got 500pound. been paying them 92 a month for the last 12months and still have 6 months to go. at one point there were charging me 3 times a week for phone calls which i never received. one story i got was that i wasnt at home at 1030am so they tried again at 1130 am....bloody twits i was at work an they charged me 12pound a call.

 

 

Lostinspace1000, unfair charges-give you a tip, don't pay them, request a break down of all charges and the calculations in writing, I bet they don't reply, then make a complaint through thier complaints dept-complain to trading standards.

 

Jesus £12 for a phone call.

 

trooper68

[applecart]

Hi Mischer 23

 

If the credit agreement is secured by way of a Bill of Sale, and the security you refer to shows on both the credit agreement and the bill of sale - then, YES, they do need a court order - this is so long as the debt remains in default prior to or at the time they seek to possess the vehicle.

 

The relevant law that protects you is found at Bills of Sale (Ireland) Act (1879) Amendment Act 1883 Section 7A (1) - which states for reference:

 

"7A Default under consumer credit agreements

(1) Paragraph (1) of section 7 of this Act does not apply to a default relating to a bill of sale given by way of security for the payment of money under a regulated agreement to which section 87 (1) of the Consumer Credit Act 1974 applies-

(a) unless the restriction imposed by section 88(2) of that Act has ceased to apply to the bill of sale; or

(b) if, by virtue of section 89 of that Act, the default is to be treated as not having occurred."

 

Regrettably you will find that the trader is unlikely to take any notice of this age old legislation and you may be best hiding the car and taking the matter into dispute - they seem to rely purely on Section 7 of the above Law in their stance to possess your car - seemlessly forgetting that their Bill of Sale is not ABSOLUTE but merely acts as a security for money by way of the Credit Agreement.

 

For UK residents - the same legislation protects you - except you would refer to the 'Bills of Sale Act (1878) Amendment Act 1882 (c.43)

 

Hope this helps : )

 

Apple