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Hey guys

 

anyone know where the cars are taken once they been repossessed

 

had mine taken Wednesday but was half asleep when they took it as was on night shifts

plus I gave the repo blokes some abuse but got no paperwork

 

just wondered if they get auctioned off and if so where?

 

I'm based in Newport South Wales. 62 plate Audi A3

 

they took got no issues with them taking it just wondered where it goes afterwoods.

Cheers

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how far into the agreement are you?

 

 

dx


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Hi,

 

I was around 18 months into agreement. The car was through hippo leasing.

 

Cheers

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so it was leased not HP?


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Well I since found out it was hp at the time me being me thought I was leasing but looking at paperwork now realise it is hp

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right good

so how many payments were you supposed to make

if the 18,mths you've paid

is more than 1/3rd of that

then unless they sent you a default notice and had a return of goods order from the court

the repo is unlawful

and this could mean you get all your payments back.

 

more info please

 

can you scan the agreement to a PDF and upload


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There are specific circumstances in which a finance company must obtain a court order in advance in order to be able to repossess your car.

.

For example, if the car was repossessed by virtue of a hire purchase agreement

and you have paid more than one third of the total price of the car under the agreement

then this means that the car becomes protected goods.

.

The consequence of this is that a lender is required to obtain a court order to repossess the car

– if they do not then you may well have a valid compensation claim as a result.

.

Where the value of the car is less than one third paid

or if you gave valid consent for the car to be taken

then this protection may not be available to you.

.

The relevant section of the legislation is section 90 of the consumer crediticon Act 1974

and this applies to repossessions that have taken place within the last six years.

.

In addition to being able to claim compensation for an unlawful car repossession,

where a car has been taken without a court order in circumstances that require one

.

then you might also be able to obtain a release from the liability in the contract

(for example the hire purchase agreement), which effectively means that the debt ceases to exist.

.

Compensation can include the amount you have already made in hire purchase payments to the finance company,

as well as the cash received by the finance company if the car was sold on after it was repossessed.

 

 

This article explains well--

.

- Motor finance is an area which often requires an additional consideration when contemplating debt recovery action,

because the relevant credit agreement may be a hire-purchase or conditional sale agreement.

.

In these cases, where the debtor (or hirer) has paid over one third of the total amount payable,

the vehicle is provided with the special status of ‘protected goods’ under section 90 of the Act.

.

This means that it cannot be taken from the debtor without either a court order or his consent.

.

If a vehicle is taken in the absence of either of these,

then it could become an expensive and time-consuming exercise for the lender that entirely defeats

the purpose of seeking to recover the asset in the first place.

.

This is because section 91 provides that where section 90 is breached,

the debtor is released from all liability under the agreement,

but he retains a right to recover damages equal to all payments made.

.

These payments may even include the value of a part exchange vehicle.

.

The first issue to be addressed

– in common with all credit agreements

– is that of bringing the contract to an end through default and termination.

.

In the event that this is not done correctly,

then there is no basis upon which to take the vehicle,

and instead the debtor will retain his contractual right to possession under the terms of the agreement.

.

Assuming that the agreement has been brought to an end correctly,

then the contractual right to possession will terminate alongside the agreement.

But that is not the end of the story

.

– if the hirer has statutory protection against the owner

repossessing the vehicle under section 90,

then, in view of the consequences,

.

it means the lender will have to approach the matter with a certain degree of care.

.

In theory the easiest method of repossessing a protected vehicle is for the lender to obtain the debtor’s consent to take the vehicle from him.

This approach also has a commercial logic in minimising costs when ultimately they may not be recovered.

.

It is important to remember that the consent must be genuine and given voluntarily,

and, therefore, lenders should make sure that where third party recovery agents are used to repossess protected vehicles,

the processes that they adopt are reliable in this regard.

.

Practices involving either coercion or misrepresentation could cause licensing issues

when considered under the OFT Irresponsible Lending Guidance.

.

As a minimum,

the lender should obtain from the debtor a signed mandate at the time of the repossession,

stating clearly and unequivocally that the consent is given freely.

.

The mandate should also provide full details including the debtor’s name, address, vehicle description and related agreement number.

It is useful too if the mandate includes a declaration to this effect,

together with a comment on the fact that the keys and logbook have been provided

– such an approach is likely to indicate informed consent and so reduce the risk of any future claim under section 90.

.

If consent to repossess the protected vehicle cannot be obtained from the debtor,

the only option available to the lender is to obtain an order from the court for its return.

.

As ever, the process of issuing proceedings inevitably involves risk, additional costs

and may cause delay in recovering the vehicle because attendance at a hearing is likely to be necessary.


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threads merged.

 

 

so what happened since may

you left us dead.

 

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

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WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

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answer post #6 please


PLEASE HELP US TO KEEP THIS SITE RUNNING

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Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

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threads merged.

 

 

so what happened since may

you left us dead.

 

 

dx

Sorry mate, I had some personal issues so didn't end up doing anything I just let it go. Sorry for not coming back here to respond

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stuff happens

 

 

so post 6 is outstanding

so we can help you...

 

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

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WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

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