Bill of sale - urgent questions and answers please.

[Fight the Pirates]

Hi

 

A friend is really struggling with a car loan and cannot pay it. He should have paid three weeks ago but due to unemployment cannot afford to pay. Despite the fact the payment is only three weeks late, the finance firm advise they will seize the vehicle this week.

 

1) Is this a "Bill of Sale"

 

2) How do we check it is properly registered?

 

3) The "optional insurance" related to a warranty which may have been mis sold due to the amount of pressure applied at the time by the sales team. Should this optional insurance be part of the loan like this?

 

Any help greatfully received.

[Fight the Pirates]

Apologies for the size of the scan, how do I make it full size?

 

[Fight the Pirates]

Hi

 

My friend has a car on a deal with ACF Finance and is unable to repay the loan.

 

The Bill of Sale is dated third June 2008.

 

What date would it have to be registered at the court for the Bill of Sale to be enforceable? Also, I am led to understand it was registered on the 16th June - so is this too late? If so, how do I tell the court that the Bill was not registered in time?

 

Thank you

[Fight the Pirates]

Hi

 

Further to my previous posts, I have more information now.

 

Bill of Sale dated - 3 June 2008

 

Affidavit signed 4th June

 

Court stamp - 11th June.

 

Is it valid or void.

 

Cheers

[rebel11]

Hi fight

 

Welcome to CAG

 

The guys will be happy to advise as soon as they are available.

 

Please don't start any more threads. The more threads, less focus, more confusion.

[Fight the Pirates]

Sorry!

 

This is the update.

 

The car was not seized last week as it was agreed I could have a week to check the Bill of Sale.

 

I do not have the court copy of the Bill of Sale yet, but requested this last Thursday to the Royal Court - sent by guaranteed delivery.

 

I am advised though....

 

1) Date of Bill - 3rd June

2) Date of affidavit - 4th June

3) Court stamp - 11th June.

 

The finance firm were writing to my friend last week and were sending by recorded delivery but to date, nothing received.

 

Bottom line question then, and in summary, is the BoS void or valid?

 

 

Thanks

[postggj]

a bill of sale has to be registered within seven days of signing

 

now there has been an important decision in the high court reference bill of sale and log book loans

 

who has witnessed the bill of sale and who has signed the credit agreement

[Fight the Pirates]

The BoS was witnessed by the car salesman. My friend also signed it.

 

The credit agreement was signed by my friend and the same salesman.

 

DISREGARD THIS POST - I HAVE PROVIDED INCORRECT INFORMATION

Edited August 30, 2011 by Fight the Pirates

[postggj]

Bill of sale is now invalid

do you have a fixed sum loan agreement or a hire purchase agreement

[Fight the Pirates]

PS - The Salesman worked for ACF Finance, the Finance provided by Cygnet, so he technically does not work for the finance firm, although both firms have the same registered office.

[rebel11]

Whats the name of the loan company, is it Cygnet?

[Fight the Pirates]

Yes Cygnet based at Chester.

[postggj]

The legal term for this is called astestation

 

a person who signs the agreement cannot be party to the bill of sale

 

is it a fixed sum loan agreement or hp

 

The Bills of Sales Act was amended to allow a person from the company to witness the signature on the agreements, but the witness CAN NOT sign the CA and the BS there has to be three people present. The borrower the rep of the lender that sins both the cred agreement and the witness who can be an employee

[Fight the Pirates]

Hi

 

I have a third party authority to act on behalf of my friend and from my conversations with Cygnet, I believe this to be a fixed term thing rather than HP. I will ask them again though. If I re scan the document, how do I ensure the document remains at a readable size? It seemed to shrink before.

 

Edit - The Bill of Sale is dated 3rd June.

Bottom left - "Signed as a DEED by the said in the presence of (name of my friend)

Witnes signature

Witness name

Witness description

Witness adress

 

To the right - my friend's signature

 

Over the page, dated 5th June, is a handwritten note "This agreement is between (my friend's name) and Cygnet Financial Services Ltd.

 

Cygnet Financial Services I certify this to be a true copy of the original

Date 05 06 08

Signature

Finance Administrator

 

I cannot open the link above.

Edited August 30, 2011 by Fight the Pirates

[postggj]

Use photo bucket

 

if it is a fixed sum loan agreement then they cannot reposess as the security on the bill of sale is null and void

 

the goods belong to you out right

 

the only poss thing cygnet could do is apply to the court for a return of goods order

 

very unlikly

[Fight the Pirates]

Hi

 

Sorry I may have provided some incorrect info.

 

The copy of the Bill of Sale is signed by my friend and the salesman - initials BC. The bill of sale is dated 3 June 2008.

 

On the back of this copy, is the hand written wording "This agreement is between (my friend's name) and Cygnet Financial Services Ltd.

 

Cygnet Financial Services I certify this to be a true copy of the original

Date 05 06 08

Signature

Finance Administrator

(This is a difference name to the samesman)

 

 

The credit agreement is signed by only my friend - there are no other signatures on it. This is the "customer copy" - dated 3rd June.

 

The credit agreement, marked as Cygnet Financial Services copy is signed by my friend and a person from Cygnet Financial Services, dated 5th June.

 

What is a photo bucket.

Edited August 30, 2011 by Fight the Pirates

[postggj]

The finance agreement must have a signature on behalf of the finance company after yours to execute the agreement

[Fight the Pirates]

Disregard - incorrect information given by myself.

Edited August 30, 2011 by Fight the Pirates

[Fight the Pirates]

The finance agreement must have a signature on behalf of the finance company after yours to execute the agreement

 

Just to recap. I have the customer copy of thecredit agreement here. It has my friend's signature as the debtor. This is an original - I can tell the signature is in "biro" and is not a photocopy. There is no "Signature on behalf of Cygnet Financial Services Ltd" - it is totally blank.

 

The customer copy of the BoS has my friend's signature and also the salesman's signature. The salesman name and signature is in the witness box.

 

I also have a copy the Cygnet Financial Services copy of the credit agreement. This shows my friend's signature dated 3 June 2008 (photocopy) and also the signature of Cygnet dated 5th June 2008.

 

It all seems very confusing to me, and I apologise if I did not make this clear enough.

 

In terms of the seven day rule, the BoS is dated 3 JUne 2008, the solicitor stamped and dated it on the 4th and the court stamp is the 11th June.

 

Thank you.

[Smileymiley]

You will find this is The Funding Corporation and most likely the Bill of Sale is invalid you should write a letter of complaint to them also refer to a 35 page saga which POSTGGJ is involved with as it makes interesting read

[Fight the Pirates]

Cygnet claim the BoS is valid and as such sent a firm to seize the car - despite my written complaint to Cygnet stating the BoS was void. I have applied to the court now to void the BoS - the court staff verbally stated it was out of day. The Bos was made on the 3rd June and stamped on the 11th. We will keep you posted.

[brown1sk1nzs]

Hi i have the same issuses as Fight the Pirates with my agreement with the funding corporation. But i dont have a copy of the BOS and dont no if this is void at this point. Are they obliged to send me a copy if my partner asks for it ?

 

My partner signed a contract just like Fight the pirates copy in October 2009, and wish we had not been so hasty and signed for this extortionate finance!!

 

I just wish to no that if my BOS is void and there is not a signature under where my partner signed in reguards to The Funding Corporation can i legally stop making payments to them, and keep the car which after two years of £250 a month i have payed for outwright ?? If not what options do i have ?? A

[Pandapa]

Can some please advise. my car is due for repossession tomorrow if I dont pay log book loans tomorrow. they have askes for 1500 pounds. I dont have that kind of money and I'm at wits end. I really need advice.