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Bill of Sale - Repossession question... any experts?


Lefty
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Hi folks

 

I would like to know if a vehicle hp agreement (apparantly) secured by a Bill of Sale allows for repossession of the vehicle, without notice, and on the "debtors" private drive.

 

Basically, are the general laws of Hire Purchase thrown out of the window when the agreement is secured by a bill of sale?

 

I always though a vehicle could only be repossessed (without a court order) if less than 1 third into the agreement, and if in a public place.

 

Any guidance on the law would be greatly appreciated.

 

Cheers

Lefty

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Just a quick correction...

 

It's not a Hire Purchase agreement secured by a Bill of Sale, it's a Fixed Sum Loan Agreement secured by a Bill of Sale.

 

Any help GREATLY appreciated.

 

 

Cheers

Lefty

If the left side of the brain controls your right, and the right side controls your left, then left-handed people are always in their right mind!

 

Please help to support this site with a small donation... every little helps...

 

CAG- The Nation's Weekly Info Store!

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  • 3 weeks later...
Hi folks

 

I would like to know if a vehicle hp agreement (apparantly) secured by a Bill of Sale allows for repossession of the vehicle, without notice, and on the "debtors" private drive.

 

A Bill of Sale gives no authority to the lender to repossess any vehicle without an order from the court - the lender can 'seize' the vehicle and when he does so - he must leave a visibile notice that you have 5 days in which to rectify the default. Previous to this he will have (should have served a default notice by virtue of the CCA 1974 allowing 14 days and they are known to follow this through very quickly with a termination notice - no doubt to 'speed up' sending your account to the repossession agent).

If the vehicle is on 'private' land - I understand that section 13 of the Bill of Sale Act 1882 covers this for you.

 

 

Basically, are the general laws of Hire Purchase thrown out of the window when the agreement is secured by a bill of sale?

 

You have corrected this in your next post - when a bill of sale is involved it usually has nothing to do with a HP agreement - but to be honest; the way the lenders are running amock with the CCA and other laws and regulations - one cannot be sure unless close attention is made to the kind of agreement entered into.

 

I always though a vehicle could only be repossessed (without a court order) if less than 1 third into the agreement, and if in a public place.

 

Not as far as I have learned - a vehicle can never be repossessed without a court order by virtue of S.7a of the BoS Act 1882 and the CCA 1974 S.87

Any guidance on the law would be greatly appreciated.

 

It's also worth viewing a copy of the Encyclopedia of the Laws of England that Hip Hop kindly pasted a link to in one of his threads recently - I found information that I had not considered previously - its brilliant - check the entire section in it on Bills of Sale especially that on Bills of Sale as security.

 

Cheers

Lefty

 

Hope this proves to be useful information?

 

Apple : )

[COLOR="red"][B][CENTER]"Errors do not cease to be errors simply because they’re ratified into law.” [/CENTER][/B][/COLOR][B][CENTER] E.A. Bucchianeri[/CENTER][/B]

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