Can Bailiff take my car which is on finance?

[Saf213]

Hi

I need some urgent advice.

 

Can a HCEO take my car which is on finance?

V5 is under name but I believe that its not proof of ownership?

 

 

If answer is 'Yes' to my question than what rights a HCEO will have if I sell my car to my spouse

or my company of which I am sole director and shareholder,

 

 

is that any good?

 

Any replies would be highly appreciated.

[fkofilee]

Well this is a very grey area... Let the team come and have a look.

But selling it may look bad and may cause unwanted side effects.

[dx100uk]

tell us about the debt please.

[fkofilee]

tell us about the debt please.

 

Yes Plz do...

[Peterbard]

This is all very much up in the air at the moment.

 

The situation is, if the EA thinks that you may have some beneficial interest in the car, he may be of the opinion that he can take it under control.

 

There would be a beneficial interest if the car could be sold and there would still be funds remaining after settlement of the agreement.

 

It follows that if your agreement has some time to run or if it is a PCP agreement with a bullet or lump sum payment due at the end, there would be no interest and the car would be exempt.

 

 

So first thing to do is look at your agreement.

 

I would forget about selling the car, you cannot anyway if it is under a HP agreement.

[Saf213]

tell us about the debt please.

 

It's for an injury claim lost at trial.

[brassnecked]

What sort of amount is the debt, is the car on HP or a PCP?

[Bailiff Advice]

 

If answer is 'Yes' to my question than what rights a HCEO will have if I sell my car to my spouse

or my company of which I am sole director and shareholder,

 

Unfortunately, 'selling' or transferring the vehicle would be fraught with difficulties given that the statutory regulations (Paragraph 4.2 of Schedule 12 of the Tribunals, Courts and Enforcement Act 2007) provide that goods become 'bound' from the time when the writ is endorsed. Therefore if the vehicle is now sold, it is possible for the enforcement agent to seize the vehicle from the new 'buyer'.

 

http://www.legislation.gov.uk/ukpga/2007/15/schedule/12/part/2/crossheading/binding-property-in-the-debtors-goods?view=plain

[Saf213]

This is all very much up in the air at the moment.

 

The situation is, if the EA thinks that you may have some beneficial interest in the car, he may be of the opinion that he can take it under control.

 

There would be a beneficial interest if the car could be sold and there would still be funds remaining after settlement of the agreement.

 

It follows that if your agreement has some time to run or if it is a PCP agreement with a bullet or lump sum payment due at the end, there would be no interest and the car would be exempt.

 

 

So first thing to do is look at your agreement.

 

I would forget about selling the car, you cannot anyway if it is under a HP agreement.

 

Hi

I phoned my finance company and they confirmed that I can sell my car if I want to as it's not a HP agreement like you mentioned.

[brassnecked]

Hi

I phoned my finance company and they confirmed that I can sell my car if I want to as it's not a HP agreement like you mentioned.

 

It is too late to sell it as BA indicates above, your goods and chattels are bound by the court and cannot be sold. From what you have posted, it looks like your car IS available for the bailiff to take. Only option is to hide it if he hasn't already seen it.

[Peterbard]

I am confused

 

What kind of agreement is it ?

 

If it was just a fixed sum loan the car would not be " on finance" as you say ?

If the finance company has no interest in the goods, then why the mention of it being on finance ?

 

Could you explain ?

[Peterbard]

It is too late to sell it as BA indicates above, your goods and chattels are bound by the court and cannot be sold. From what you have posted, it looks like your car IS available for the bailiff to take. Only option is to hide it if he hasn't already seen it.

 

Of course if the car was exempt, the property could not be bound

[brassnecked]

Of course if the car was exempt, the property could not be bound

True, but we can't tell for certain on the information provided.

[Peterbard]

True, but we can't tell for certain on the information provided.

 

From the information given today, it seems that the question should have been, "can a bailiff take my car".

 

To which the answer is yes, sadly this is what they do.

[brassnecked]

From the information given today, it seems that the question should have been, "can a bailiff take my car".

 

To which the answer is yes, sadly this is what they do.

Have to agree the bailiff can take it.

[ploddertom]

Is the original claim for the monies against you personally or against your Company - are you trading as a Ltd Co?