Log book loan help needed

[mizzbabyjess]

Hi,

 

 

I stupidly have a Log Book Loan, which was taken out 3 years ago, due to personal circumstance. I am still trying to pay this.

 

Unfortunately I have falllen behind with my payments,

 

 

I have always been in contact with them trying to explain the situation,

they have before managed to take my car although I did get it back after lending the money.

 

My repayments then went up.

 

I have tried to negotiate a lower repayment, but the lowest they say they will accept is £100 per week.

 

A couple of weeks ago one of the management team contacted me with a full and final offer,

which i would love to accept to finally get them off my back.

 

I asked if they could possibly extend the offer until the end of the month to which they agreed

but demanded £300 immediately or they will instruct a debt recovery agency.

 

I have read alot about BOS,

I do not have a copy of this,

and I cannot find my original agreement.

 

I do remember signing and an employee coming to my house and signing.

 

Could someone please advise as to my next move.

 

Thank you

[theoldrouge]

we really need more details, but general advice would be

 

first check if your bos has been correctly registered,you will need the vehicle reg

how to check:

.

email:QBEnforcement@hmcts .gsi.g ov.uk.[no spaces]

.

ring:020 7947 7772

.

write:

QB Enforcement Section,

Room E15-E17,

Royal Courts of Justice,

Strand, London, WC2A

...

.

ideally you need the BOS number

.

however

they can search by the Reg Number

http://www.justice.gov.uk/courts/rcj-rolls-building/queens-bench/enforcement

 

they cannot repo your vehicle without first sending you a default notice under s87cca 1974

 

with 14 clear days to remedy

 

You could also consider a time order if you are having repayment problems

https://www.nationaldebtline.org/EW/factsheets/Pages/06A%20EW%20Time%20order%20on%20an%20unsecured%20credit%20agreement/Default.aspx

 

I would suggest a sar to the lbl co to gather all the information

[mizzbabyjess]

Thank you for your reply.

Do I have to pay any fee for the search?

I will also send a SAR to request all the information.

[theoldrouge]

Thank you for your reply.

Do I have to pay any fee for the search?

I will also send a SAR to request all the information.

 

The Bill of Sale must be witnessed and registered at the Royal Courts of Justice, in the time and manner set out in the BSA, otherwise it will be void and cannot be treated as a licence to take possession. You can check if this has been carried out by making a written request to the Court and paying £5 or visiting there in person and searching the register for free. To search you need to know the name of the borrower, their address and the year of registration. The entries in the register are made alphabetically in the name of the borrower.

[theoldrouge]

(a) Buying a car under a bill of sale will be a regulated consumer credit agreement – unless the credit is for more than £25k

 

(b) The goods will not become ‘protected’ in the same way as for hire-purchase agreements (for which section 90 CCA provides that if the consumer has paid one-third or more of the total price of the goods, the creditor cannot recover possession except by judicial proceedings or consent).

 

© However, the creditor will not be able to enforce the security unless he has first served a default notice under section 87 CCA and this has expired (after not less than fourteen days) without remedy or the debtor applying to the court for relief.

 

(d) If the creditor repossesses without a valid default notice, the consumer may apply for an injunction or a time order, or seek damages for breach of contract.

 

On this basis, whilst the consumer will have less protection under a bill of sale than under a hire-purchase agreement, he will not be completely unprotected, and the creditor will be at risk of licensing action if he acts unfairly.