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hi...8 weeks ago we bought a 2nd hand honda type r for 2400.00 pound, from an ad on a facebook car site! my bloke went down viewed the car, payed the money, and drove it home! the owners couldnt find the v5, but my bloke said he would apply through the P.O. as they were searching for it but couldnt find it. anyway..yesterday while at work in a very private, out of the way, unit, the bailiffs arrived and took the car!!! they gave my bloke a photo of the ppl he;d bought the car from saying she had finance on the car and had defaulted so the car was still theirs!!!!! as you can imagine, we are gutted but want to fight this!!! we have found that she'd bought the car, then took out a loan using the car as collateral with a log book loan...the police are now investigating, but we will go to court! will we win anything??
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Re: car repossessed after previous owners log book loan debt.
You will likely get your money back that you paid for it and your legal costs paid by the seller if you take them to civil court. But then, thats if the seller has the money to pay you back. If not you may have to apply for warrant of execution to get the baliffs to visit the seller. If the baliff can't recover the sums, or property to the value of the sum involved. Then you may have to get a charging order on their home, that's if they own the house though.Please note that this advice is given informally, without liability and without prejudice. Always seek the advice of an insured qualified professional. All my legal and nonlegal knowledge comes from either here (LB),my own personal research and experience and/or as the result of necessity as an Employer and Businessman.
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I AM SO GOING TO GET BANNED BY CEL FOR POSTING terrible humour POSTS.
The Governess; 6th March 2012 GRRRRRR -
Re: car repossessed after previous owners log book loan debt.
Were they genuine bailiffs, or were they simply Debt Collectors? Is there actually any evidence that they car was on HP?Comment
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Re: car repossessed after previous owners log book loan debt.
thanks for your replies!!! the car wasnt bought on hp...she used the car as collateral on a loan from a log book loan company!!!! she still owes over 5 grand..and thats why the loan company sent recovery ppl out to get the car! there was nothing we could do...although the police informed us today it is a criminal act and they are now investigating!!!!Comment
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Re: car repossessed after previous owners log book loan debt.
Wait for the police to complete their enquiries and keep in touch with them. Please do not do anything that could prejudice any criminal investigation currently in progress.Life is a journey on which we all travel, sometimes together, but never alone.Comment
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