log book loan repossession Mobile Money taking them to court!

[lbl249]

I very foolishly took out log book loan with Mobile Money and very evident that they are not type of company to help people.

 

 

I have learnt that they break alot of CCTA code of practice..

and as there is no proper legislation there is not much help out there for when my car was repossed.

 

 

I have followed every procedure

got bona fide debt advisor that log book loan company should recognise

and put an account on hold mobile money would not accept.

 

 

I applied for time order and

day after documents sent to them they went to another county were car was hidden

and took it without any keys on back of a car with hand brake on etc.

 

 

The collector wasn't sia regulated just another to add to long list of mobile money being above the law.

 

 

Well I have court date and looking into going to media this week.

 

 

These companies are just doing there own thing and need stopping.

 

 

Luckily I have backing of citizens advice who are legal advocating on my behalf would love to hear if anyone else has concerns or took mobile money to court.

 

 

I am hoping to lobby my local mp for all log book loan companies to apply to court before they repossession as ccta are being ignored.

 

 

Any advice much appreciated! !

[fkofilee]

Sorry but... Another County? How did they know where it was??

[dx100uk]

what is CCTA?

 

 

if the bill of sale is properly registered

and they have a copy of the default notice they can repo.

 

 

dx

[dx100uk]

from my notes.

>>>>>>>>>>>>>>>>>>

logbook loan repossessions are not always legal,

.

if linked to a CCA agreement or if the BOS has not been registered with the high court.

.

If BOS registered then yes they can reposses,

but have to show registration and debt details.

Registration

A bill of sale can only be enforced if it was properly registered.

Since this is an expensive and difficult process,

it is rare that this actually happens.

However, failure to register the bill of sale renders it void,

and so renders any security on goods void.

.

Consequently, before allowing any creditor to gain possession of your goods,

ask to see a registered copy of the bill showing the supreme courts seal.

.

You can also call the national debt line, and ask them how to search the registry yourself.

.

Also a valid DN must be issued.

.

If linked to a CCA then can not reposses if on private property without a court order

( but can if on public road and under a third has only been paid ).

.

Over a third, they need a court order wherever it is.

.

check for...[bOS]

.

No Independant signature

No Independant Witness

Not Registered With The High Court In 7 Days

not registered AT ALL!

.

Credit Agreement Details Not On The Bill Of Sale

.

how to check:

.

email:[email protected] 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

.

...............

also see:

http://www.fca.org.uk/firms/firm-types/consumer-credit/consumer-credit-research/logbook-loans

.....

Do you have a problem with a Logbook Loan?

With Citizens advice estimating that over 60,000 of these loans were taken out in 2014 alone

an increasing number a causing severe difficulty and distress for borrowers.

In this guide we explain what a logbook loan is, and how they work.

What you can do if you have a repayment problem,

and what you can do if you have unknowingly bought a car with a logbook loan attached.

Three golden rules for Logbbok Loans

1)No matter how desperate you are to purchase a car, or raise cash,

NEVER consider this type of Finance

These loans are designed purely for the benefit of the lenders.

With APRs of 400+%, little consumer protection, and aggressive debt collectionicon practices

they should be avoided at all costs.

2)When purchasing a used car from whatever source,private or trade,

ALWAYS do a FULL GENUINE HPI CHECK costing around £20,

these come with a guarantee against any form of existing finance, including lbl's

3)If you have any problem with a Logbook Loan,

your first step is ALWAYS to check that the Bill Of Sale has been registered

with the High Court. You can do this here-

to check if registered

Contact Details

QB Enforcement Section

Room E15-17

Royal Courts of Justice

Strand

London

WC2A 2LL

DX 44450 Strand

Telephone: 020 7947 7772

Fax: 0870 324 0024

Email: [email protected] ov.uk

You may read on the internet that your BOSicon will be void if witnessed by your lbl lender

Since the OFT( as was) lost the attestation case on appeal by 2 to1 this is NOT the case

full details here http://www.bailii.org/cgi-bin/markup...method=boolean

Logbook loans are a form of credit dating back to the Victorian era,

derived from the 1878/1882 Bills Of Sale Acts, with terms and conditions to match in many cases.

Problems are manyfold from extortionate charges by lenders for calling a customer,

to repossessions where owners have been left at the side of a busy road,

unable to get to work, and even sexual harassment via debt collection.

Poor practices abound, unsurprising when there is no incentive for lenders

to ensure their customers understand the terms or can afford the repayments.

In fact the very nature of this form of finance could be seen to encourage bad behaviour

– why carry out affordability checks if a single missed payments means you get to keep

the money and takeaway the car?

How does it work?

When you take out a logbook loan you will be asked to hand over your vehicle’s logbook

or vehicle registration document, which proves you are the registered keeper of the vehicle.

You’ll also have to sign a credit agreement and a form called a ‘bill of sale’.

This means the lender now owns your vehicle on a temporary basis

but you are still able to use it so long as you meet all loan repayments.

These documents are recognised by law in England, Wales and Northern Ireland

but are not used in Scotland.

The law only recognises a bill of sale if the lender registers it with the High Court.

If it’s not registered, the lender must get a court’s approval to repossess your vehicle.

You should check if the bill of sale is registered.

 

What you should do if you have a repayment problem

1) check your Bill Of Sale is registered as above

2) the lender must send you a default notice which complies with the requirements of s87(1)cca1974

allowing you fourteen clear days to remedy any default (which can be after one missed payment)

You should , if your lender will not negotiate a reduced payment, straight away on receipt of the dn

look to take out a time order. This gains you the protection of the court, which can look into the overall loan--

https://www.nationaldebtline.org/EW/...t/Default.aspx

 

What you can do if you have purchased a car with an existing logbook loan

If you receive a letter threatening to repossess the car or an enforcement officer

turns up at your home to take it, you may not be able to stop them.

•ask to see proof of their identity and their authorisation to take the car

•ask to see the bill of sale document – they have to show you this if you ask for it

•if you feel threatened by how an enforcement officer is behaving, call the polic

•ask for written confirmation of what has been taken

•get the contact details for the logbook loan company.

If the lender has taken your car, you can try to get it back

and reclaim your money from the seller.

However, this can be a costly and time-consuming process and is not guaranteed to succeed.

If you want to get the car back, you could pay off the outstanding loan

and then take the person who sold you the car to court, to try to get your money back.

 

If you just want to get your money back, you can take the person who sold you the car to court.

Always get independent advice before you decide to take someone to court.

Some lenders are members of the consumer crediticon Trade Association (CCTA),

which has a code of practice covering logbook loans.

The code of practice says the lender must register the logbook loan on a register,

so it will show up when you carry out a history check on the car.

It also says they must obey certain rules when they repossess a car.

If you are unhappy with the way a logbook loan lender or its enforcement officers have behaved,

find out whether they are a member. If so, you can complain directly to the CCTA.

However this code is regularly ignored

http://www.ccta.co.uk/content/our-code.aspx

Finally both the Financial Conduct Authority and the Law Commission are investigating

Logbook Lending and the associated legislation,

full details here--

http://www.fca.org.uk/firms/firm-typ.../logbook-loans

http://lawcommission.justice.gov.uk/...ls-of-sale.htm

 

dx

[fkofilee]

Lots to read from DX but it will help you if you pay attention to it

[lbl249]

They followed me I think and found out it was at families address

[lbl249]

Thanks everyone

 

 

but have already done everything such as contact CCTA which is code of practice that now governs log book loan lenders

and financial ombudsman are investigating but now I have issued court proceedings that supersedes this.

 

 

As for bill of sale being registered and default notice

they can repo but they must abide by the consumer credit trade association code of practice

and any issues you can get injunction to stop any sale and a time order and the court will look at overall loan interest rate

and under the Consumer Credit Act which now log book loans are undertaken.

 

 

Mobile money as all log book loans think that no one can overule them

 

 

but am on a mission won't stop until someone puts a stop.

 

 

I learnt hard way and just want make sure people can get all help they can and log book loans are stopped.

[Guest Kris_barb]

Have you called the police? Since someone has stolen your car...

[lbl249]

Yes they can't help it's a civil matter!

[Guest Kris_barb]

Yes they can't help it's a civil matter!

 

It would be a civil matter if they were licensed and gave notice. From the OP it seems they were not and did not. Basically some people turned up and took a car. That's theft

[dx100uk]

if they have/had the default notice and the bill of sale is registered

its not theft.

little anyone can do sadly

 

 

dx

[theoldrouge]

the CCTA code is regularly ignored and of very little value and near useless

 

read herehttp://lawcommission.justice.gov.uk/news/bills-of-sale.htm

 

http://www.fca.org.uk/firms/firm-types/consumer-credit/consumer-credit-research/logbook-loans

 

[theoldrouge]

what is needed is a change of legislation, to provide consumers the same protection as for hp agreements

 

you must in addition, send a full report on this to the FCA

[lbl249]

I am already on the case with FCA also you are so right regarding the CCTA complete waste and log book loan companies regularly don't work in accordance. Also you can stop them get an injunction at your local court and submit with witness statement and wait until judge is free. You can also get time order for court look at overall debt. There are ways to stop these sharks and hopefully once law commission publish there finding later this year the whole area will be better regulated!!

[theoldrouge]

for anyones info, you must act immediately on receipt of a default notice

 

What you should do if you have a repayment problem

 

1) check your Bill Of Sale is registered as above

 

2) the lender must send you a default notice which complies with the requirements of s87(1)cca1974

allowing you fourteen clear days to remedy any default (which can be after one missed payment)

 

You should , if your lender will not negotiate a reduced payment, straight away on receipt of the default notice look to take out a time order. This gains you the protection of the court, which can look into the overall loan--

 

https://www.nationaldebtline.org/EW/...t/Default.aspx