Help please car is being taken away!

Charlie Farley · Jan 29, 2020

With a logbook loan, in addition to signing a credit agreement, there will be a separate form called a ‘bill of sale’.

This means the lender now temporarily owns your vehicle but you’re still able to use it so long as you meet all loan repayments.

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 could check if a bill of sale is registered by making a written application to the Royal Courts of Justice in London.

There is usually a fee to pay.

Charlie Farley · Jan 29, 2020

With a logbook loan, in addition to signing a credit agreement, there will be a separate form called a ‘bill of sale’.

This means the lender now temporarily owns your vehicle but you’re still able to use it so long as you meet all loan repayments.

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 could check if a bill of sale is registered by making a written application to the Royal Courts of Justice in London.

There is usually a fee to pay.

Charlie Farley · Jan 29, 2020

The important parts are underlined Ricky , if they cant provide proof of court approval and the bill of sale is not registered they cant take your car full stop, so don't let them near it unless they can provide proof.

Ricky Burrows · Jan 29, 2020

Just Rob. said:
With a logbook loan, in addition to signing a credit agreement, there will be a separate form called a ‘bill of sale’.

This means the lender now temporarily owns your vehicle but you’re still able to use it so long as you meet all loan repayments.

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 could check if a bill of sale is registered by making a written application to the Royal Courts of Justice in London.

There is usually a fee to pay.

It does say on the hpi check where its flagged up as outstanding finance that its “a bill of sale” and the date it was issued, I think after the quick learning curve today the car is definitely not owned by me i have a receipt for the sale and i have the log book for it but thats not hard to apply for a new log book so i guess it can easily be hidden unless you get the proper hpi check done.

I think at this stage its just a case of limiting the damage and if that means taking off my bits ive added and putting the oem wheels on then thats the least ill be doing but im more than likely going to pay the settlement figure as i like my flipping car and no other ******* is having it!

Jon13s · Jan 29, 2020

Just caught up on this. Shocked tbh. I didn't know that these loans existed either.

I can't believe they're even a 'thing'. I also can't believe that the HPI doesn't pick it up. What's the point in the lesser check if only the £20 checks it?

The whole thing is a stiff HPI included. Hoping this acts as a warning beacon to others. It almost needs a sticky on the group to spread that awareness to others.

I know this doesn't help you or your situation right now but to date I think the calm approach has probably won you some favours: However as others have mentioned I'd be very tempted to make the car disappear for a bit.

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Sandra · Jan 29, 2020

So sorry to hear all about your car troubles Ricky. I really hope you can get this sorted very very soon.

Charlie Farley · Jan 29, 2020

Ricky Burrows said:
It does say on the hpi check where its flagged up as outstanding finance that its “a bill of sale” and the date it was issued, I think after the quick learning curve today the car is definitely not owned by me i have a receipt for the sale and i have the log book for it but thats not hard to apply for a new log book so i guess it can easily be hidden unless you get the proper hpi check done.

I think at this stage its just a case of limiting the damage and if that means taking off my bits ive added and putting the oem wheels on then thats the least ill be doing but im more than likely going to pay the settlement figure as i like my flipping car and no other ******* is having it!

Go for chap, i'd do the same.

Ricky Burrows · Jan 29, 2020

Thanks to everyone for the advice today and messages of support definitely helped me out, thats one more thing I've learnt doing this life thing and ill sure as hell not rule out the proper full hpi check again thats for sure.

Sam1989 · Jan 29, 2020

Hey Ricky. First time I’ve been on for a while. Just caught up and saw this. F***ing madness man. Hope you get this sorted ASAP. The last thing anyone needs is someone turning up out of the blue. Unbelievable. Making the car disappear seems like a decent idea for now!

Seanchadwick2k3 · Jan 29, 2020

I got into a bit if debt years ago when I lost my job and it went to debt collectors. In the end I offered them 50% of the total to clear the debt, I told them I was moving to Spain and if they don't accept my offer they end up with nothing.

This got refused about 3 times until they gave in and accepted it. I didn't have to hide a car though so may be a bit more awkward for you. Too many scum bags in this world. That was on a £7000 debt too so you may have more chance of success with it being a smaller sum.

Ricky Burrows · Jan 29, 2020

Sam1989 said:
Hey Ricky. First time I’ve been on for a while. Just caught up and saw this. F***ing madness man. Hope you get this sorted ASAP. The last thing anyone needs is someone turning up out of the blue. Unbelievable. Making the car disappear seems like a decent idea for now!

Hi Sam yeah its been a bit of a rough day ive put the car in a different location now as they may well have the spare key as i only had one key when i bought the car (makes sense why it only had one key now) i just put it down to being an old car, so may well be easily got to so its in a special place....shhhh

Charlie Farley · Jan 29, 2020

Better safe than sorry.

Sidrick · Jan 29, 2020

Is it under lock and key and at least 5 miles away?

Ricky Burrows · Jan 30, 2020

Seanchadwick2k3 said:
I got into a bit if debt years ago when I lost my job and it went to debt collectors. In the end I offered them 50% of the total to clear the debt, I told them I was moving to Spain and if they don't accept my offer they end up with nothing.

This got refused about 3 times until they gave in and accepted it. I didn't have to hide a car though so may be a bit more awkward for you. Too many scum bags in this world. That was on a £7000 debt too so you may have more chance of success with it being a smaller sum.

Its all negotiations and games from here then i guess they already took over £600 off the bill without me even trying so I think £1000-1200 is something in the region they should accept, still a lot of unnecessary money gone out the window on my part but if thats what it takes to keep my car then i guess i got no choice thanks to the complete and utter scum bag **** ***** ******* ****....

Just find it speechless that he’s took this loan out against the car in mid January 2019 then sold the car to a friend straight away who had it until i bought it mid February 2019 that clearly says he didn't just fall off the path and hit some financial difficulties and failed to make the payments which wouldn’t make it right but i could sympathise (now I'm grown and see things in a different light) but it means he’s planned it from day one and sold the car straight away thinking he could palm it onto someone else, unbelievable.

Gets my blood going thinking about it, the kids and mrs keep me on track and out of jail so I've buried that side of me as much as possible but sometimes situations like this make me question my new ways.

Ricky Burrows · Jan 30, 2020

Sidrick said:
Is it under lock and key and at least 5 miles away?

No comment :whistle2:

DieselJake · Jan 30, 2020

Change the plates and say it got stolen so replaced it with the same. Worth a try :playful:

hate stuff like this, surely there's an easy route out as it's not your debt so should 100% fall on the right doorstep.

Damian_S · Jan 30, 2020

Get some legal advise, from someone who knows there stuff, I had a similar situation a fair few years ago, parents friend was a barrister and worded a letter for me, problem went away. If bought in good faith then they can’t take it, there is a case in law I quote with almost the exact same circumstances. Additionally they cannot remove from private property without a court order, anything else is illegal but be aware that half the time the Police don’t even understand this!
I’ll see if I have the letter I wrote, maybe somewhere on an external hard drive.

jarnold231 · Jan 30, 2020

Utterly terrifying story. Hope you get it sorted.

I vote for paying off the loan company and selling the debt cheaply to the nastiest debt collector you can find from a Danny Dyer Britains hardest men documentary on the proviso you can get a film of the debt extraction.

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BakPak · Jan 30, 2020

It is a nightmare and disturbing.
I vaguely remember reading about logbook loans 8 - 10 years ago and I thought the company hung onto the logbook to stop the vehicle being sold. Obviously you could apply for another logbook from DVLA but that would be blatant fraud.
It also renders the cheap PPI check completely useless.
I hope this gets sorted pal and of course I hope the tw*t who caused this situation gets well and truly sorted.
After all a tw*t like that will continue to do this sort of thing.

Charlie Farley · Jan 30, 2020

That's the thing, the car is effectly owner by the loan company until the loan is cleared and they can repo it if the loan is defaulted .
If they have a bill of sale registered which they do on this , they can just get a court order to repo it, the registered keeper is not the owner in this case by nature of the loan terms etc.
It is not ideal at all , until they get any outstanding money or the car back they will chase any owner of it.
Ricky has very limited options and I can’t see them just letting it go to be honest.

Ricky Burrows · Jan 30, 2020

BakPak said:
It is a nightmare and disturbing.
I vaguely remember reading about logbook loans 8 - 10 years ago and I thought the company hung onto the logbook to stop the vehicle being sold. Obviously you could apply for another logbook from DVLA but that would be blatant fraud.
It also renders the cheap PPI check completely useless.
I hope this gets sorted pal and of course I hope the tw*t who caused this situation gets well and truly sorted.
After all a tw*t like that will continue to do this sort of thing.

A business that turns over money and the government take there share is always going to be priority so dout it will stop anytime soon but at least were all aware on here now.

Ricky Burrows · Jan 30, 2020

Just Rob. said:
That's the thing, the car is effectly owner by the loan company until the loan is cleared and they can repo it if the loan is defaulted .
If they have a bill of sale registered which they do on this , they can just get a court order to repo it, the registered keeper is not the owner in this case by nature of the loan terms etc.
It is not ideal at all , until they get any outstanding money or the car back they will chase any owner of it.
Ricky has very limited options and I can’t see them just letting it go to be honest.

They definitely wont Rob just limiting the damage on my part now.

Dan_Avant · Jan 30, 2020

This sucks mate. I’m fuming just reading through your thread!!! hate these effin scumbags!

This all sounds a bit funny to me though. Just spoke to my mate who took out a log book loan years ago and he said the lender took the log book from him and gave it back once the debt was settled.

Ricky Burrows · Jan 30, 2020

Dan_Avant said:
This sucks mate. I’m fuming just reading through your thread!!! hate these effin scumbags!

This all sounds a bit funny to me though. Just spoke to my mate who took out a log book loan years ago and he said the lender took the log book from him and gave it back once the debt was settled.

Yeah that’s generally what seems to happen they have the log book and spare key makes sense now as it only had one key and the log book is easily applied for by saying its lost, guess that where the month of him taking out the loan and me buying it comes into, all seems obvious now which is also frustrating but what can you do ay, take it on the chin and make sure none of these ***** get my car before its settled.

Charlie Farley · Jan 30, 2020

Best of luck Ricky, keep safe.

Ricky Burrows · Jan 30, 2020

Just Rob. said:
Best of luck Ricky, keep safe.

Its just money aint it.....thats what im telling myself anyway lol thats messed up the stage 2+ plans before the summer thats for sure lol

quattrogone · Jan 30, 2020

If you got a bill of sale from the guy that sold it directly to you then you could apply pressure on him regarding the whole fraud angle? That in turn might make him very unhappy with his "mate" that sold the car onto him as soon as the load was given....that is unless they were in on it together :0/
Still either way personally I think you are going down the best route at the moment which is get the best possible price on the settlement figure.

And then call in the pikey's

Ricky Burrows · Jan 30, 2020

quattrogone said:
If you got a bill of sale from the guy that sold it directly to you then you could apply pressure on him regarding the whole fraud angle? That in turn might make him very unhappy with his "mate" that sold the car onto him as soon as the load was given....that is unless they were in on it together :0/
Still either way personally I think you are going down the best route at the moment which is get the best possible price on the settlement figure.

And then call in the pikey's

Ive done the pressure route on him and used his mate as leverage and his nice white picket fenced house and fancy cars and that has pushed him into contact with motorkitty and they were negotiating yesterday so I'm hoping for a call back very soon with either good news its cleared (which i very much dout) or ill start negotiating with them and limit damage on my end.

UisT4 · Jan 30, 2020

Hopefully between the two of them they come up with a plan to settle the debt without costing you anything, nightmare situation.

If they don't any you end up paying 1200 to settle it although its not ideal at least it will be cleared and you'll have the original logbook and key and some peace of mind.

Lesson to us all about these logbook loans, I'd never heard of them either and also hpi checks!

Charlie Farley · Jan 30, 2020

Ricky Burrows said:
Its just money aint it.....thats what im telling myself anyway lol thats messed up the stage 2+ plans before the summer thats for sure lol

At the end of the day it is just money, if it been me I would have paid up aswell.

jarnold231 · Jan 30, 2020

I'd have also sold the debt

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AvantMike · Jan 31, 2020

@Ricky Burrows mate!! I'm so sorry to hear this! Let alone the utter b@llache of having to deal with it, the money and heartache. If there's anything someone local can do to help mate give me a shout & I'll do what I can.

Ricky Burrows · Jan 31, 2020

AvantMike said:
@Ricky Burrows mate!! I'm so sorry to hear this! Let alone the utter b@llache of having to deal with it, the money and heartache. If there's anything someone local can do to help mate give me a shout & I'll do what I can.

Thank you mate much appreciated. Hopefully im getting to the end of it now and should be sorted by the end of the day im just waiting in an email back now.

Sam1989 · Jan 31, 2020

How’s it all going Ricky? Any joy getting things a bit more sorted?

Charlie Farley · Jan 31, 2020

Yep, is it good news Ricky.

Ricky Burrows · Jan 31, 2020

Well its good news its all paid now and the car is legally mine, but i did agree last night with the person i bought the car from that he asked if its possible i could put half towards and he will pay me back within 7 days, i can sympathise with him as i was literally just in his situation and luckily he sorted it all in half a day and unfortunately for him it wont be that way as the person that took the loan out has no money to give him and isn't being as reasonable as the guy that I'm currently dealing with, so hes paid the full final settlement figure of £1250 and has now asked me for the half that he will return in 7 days, i dont mind doing this as he has sorted it very fast and got me out of a bad situation that he's now in but at the same time on my part its done i haven't got to give anyone any money im in the clear but im not that kind of person im an horrible ***** when i want to be but my heart is good lol and i want to help him like we agreed but im putting a lot of trust in him to pay me back.

maxdrz400 · Jan 31, 2020

Just read up on this mate, what a nightmare!
So if hes payed it all and its cleared, I wouldn't part with a penny if I were you as trying to get your money back from him will no doubt create another problem when he doesn't pay it back.
He may sound as though hes doing you a favour, but in fact if it wasnt for him and his "mate" you would never be in this situation in the first place.

Charlie Farley · Jan 31, 2020

Ricky Burrows said:
Well its good news its all paid now and the car is legally mine, but i did agree last night with the person i bought the car from that he asked if its possible i could put half towards and he will pay me back within 7 days, i can sympathise with him as i was literally just in his situation and luckily he sorted it all in half a day and unfortunately for him it wont be that way as the person that took the loan out has no money to give him and isn't being as reasonable as the guy that I'm currently dealing with, so hes paid the full final settlement figure of £1250 and has now asked me for the half that he will return in 7 days, i dont mind doing this as he has sorted it very fast and got me out of a bad situation that he's now in but at the same time on my part its done i haven't got to give anyone any money im in the clear but im not that kind of person im an horrible ***** when i want to be but my heart is good lol and i want to help him like we agreed but im putting a lot of trust in him to pay me back.

That is good news Ricky,
Not sure i'd be paying him back either , its your choice really but I wouldn't feel justified or obliged in paying him back anything, and i'm a very easy going person willing to let someone off the hook.
Don't forget , you were about to loose your car unless you paid up someone else debt all down due to the previous owner and his mate.
If they had been off the radar the ending would have been less than ideal , your thinking is understandable but the logic is flawed.
Time to walk away from any liability with the other parties Ricky , but your descision in the end.

anyway , its all sorted now so that's the important thing.

have a good one chap.

Ricky Burrows · Jan 31, 2020

Totally understand that it does seem a bit crazy i just feel for him as he'sshown me the hpi report on the 18th of January 2019 and it does say its clear and ive also found out that he bought the car that evening and the owner before him (his friend of a friend) took the loan out that morning against the car so he planned it all along think thats where im feeling for him as i was in that situation before he sorted it for me but yeah definitely see where your both coming from in leaving it as that.

Charlie Farley · Jan 31, 2020

Only you can decide Ricky, your choice and yours alone i'm afraid.
We can all offer you our opinions , but that's all they are , our opinions and you must do what you feel is required.
Now go and have a nice long drink. :icon thumright:

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