Please help/ logbook loan and bailiffs! Stressed and so upset!

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Yes the BOS needs to be have executed in precisely the correct form in order to be legally binding. It is usually a preformed document it also has to be recorded within seven days of the signature, if the BOS was carried over from the previous loan it would have to be re executed and re registered with the new information.

Ideally we would be able to show that the BOS was invalid, this would then allow you to retain the vehicle or at lest take the pressure of the threat off its repossession off you , as all you would have to do would be repay the loan as detailed in the agreement, if you did not do this they would have to pursue via means of a count court judgement.

When you get the BOS if you can put it on here I can check it over for you.

[shellsj]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Yes the BOS needs to be have executed in precisely the correct form in order to be legally binding. It is usually a preformed document it also has to be recorded within seven days of the signature, if the BOS was carried over from the previous loan it would have to be re executed and re registered with the new information.

Ideally we would be able to show that the BOS was invalid, this would then allow you to retain the vehicle or at lest take the pressure of the threat off its repossession off you , as all you would have to do would be repay the loan as detailed in the agreement, if you did not do this they would have to pursue via means of a count court judgement.

When you get the BOS if you can put it on here I can check it over for you.

All I currently know is that when I re - loaned so to speak, I was just sent out a credit agreement by email, to sign and return, and they transferred me the funds before they had even received the form, so I have no idea weather they followed procedure or not.

When I originally took out the loan, only 1 person came to my house, looked at the car, I signed on the line and they transferred the money by 4pm the next day.

[shellsj]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

It's not me I am worried about them repossessing the vehicle from lol, it's the poor buggers who have the car now, as the garage didn't tell them it had existing finance attached to it that I am worried about.

I shouldn't have sold it, granted, I genuinely was in a massive hole at the time, and didn't realise it was actually illegal stupidly as I had so many other things going on and just needed the cash quickly.

Grrrr live and learn!

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

All I currently know is that when I re - loaned so to speak, I was just sent out a credit agreement by email, to sign and return, and they transferred me the funds before they had even received the form, so I have no idea weather they followed procedure or not.

When I originally took out the loan, only 1 person came to my house, looked at the car, I signed on the line and they transferred the money by 4pm the next day.

I would be very surprised if it was compliant.

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Found this for you

The Essential Contents of a Bill of Sale: Without which the bill is void

1. Date of the bill

2. Names and addresses of the Parties

3. Statement of the true consideration given

4. Acknowledgement of receipt of the advance

5. An assignment by way of security of personal chattels capable of
specific description

6. That it is a monetary obligation (rather than any other) that is secured

7. Statement of the sum secured, the rate of interest and the repayment
instalments

8. agreed terms for the maintenance and defeasance of the security (ie
that upon payment of the principal sum plus interest, the bill shall be
void)

9. a clause limiting the grounds of seizure to those set out in s.7 (these are
usually set out in full)

10. Execution by the debtor

11. Attestation by a credible witness who is not a party to the bill

12. A schedule describing the secured chattels (this description must not
appear within the body of the bill)


Registration Requirements: s.8 of the 1882 Act requires that The duly attested bill of sale must be registered within 7 days of its execution.


The correct process is to file the bill with the Filing Department, Royal Courts
of Justice, Strand. The lender’s copy of the bill will then have a Supreme Court
Stamp, and the bill will be entered on the Register at the RCJ

[shellsj]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

So the credit agreement is different to the bill of sale then? I never had a bill of sale shown to me or signed by me when I reloaned at all

Thank you for the above info though

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

So the credit agreement is different to the bill of sale then? I never had a bill of sale shown to me or signed by me when I reloaned at all

Thank you for the above info though

Yes thee credit agreement does not permit them to re-posses the car

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

If you are sure that you did not sign a BOS when you received your loan, you can tell them that there was no correctly executed bill of sale that would comp;y with the BOS act 1882 accompanying this agreement.

Tell them that any enforcement action relaying on it is therefore unlawful and must cease, If you like you can re make your offer to settle the amount due under the agreement, just the original agreed amount at installments you can afford.

May be interesting to see what they say.

[shellsj]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

If you are sure that you did not sign a BOS when you received your loan, you can tell them that there was no correctly executed bill of sale that would comp;y with the BOS act 1882 accompanying this agreement.

Tell them that any enforcement action relaying on it is therefore unlawful and must cease, If you like you can re make your offer to settle the amount due under the agreement, just the original agreed amount at installments you can afford.

May be interesting to see what they say.

I genuinely can't remember what I signed for the original loan, but would I have had to of signed or seen a new business of sale for the re loan? As I definitely did not for the re loan, as I said, just a credit agreement. How do I attach on here what they did send me when I reloaned?

If this is the case, would any charges added on be void? As in, I would just owe the £179 or £375 whichever they decide it originally was before the charges were added on?

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

I genuinely can't remember what I signed for the original loan, but would I have had to of signed or seen a new business of sale for the re loan? As I definitely did not for the re loan, as I said, just a credit agreement. How do I attach on here what they did send me when I reloaned?

If this is the case, would any charges added on be void? As in, I would just owe the £179 or £375 whichever they decide it originally was before the charges were added on?

Yes there would have to be a new bill of sale, you cannot give an additional advance on an earlier BOS, it has to be re drawn, as said any charges levied for collection of the vehicle would be void, as this can only be enabled by the BOS. That is of course providing the BOS is invalid. Once you get your document one of the site team will assist.
you would only owe any contractual charges, principle loan+inters+contractual default charges(within reason)

[shellsj]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Right ok, thank you so much for all the information, really helpful!

I will post it as soon as I recieve it, whenever that may be!

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

I would inform them that you are of the opinion that there is no BOS for this loan and until this can be resolved any and therefore the collection activity must cease. Repeat the offer to settle as referred to above.

Also re contact CAB and tell them that DG are trying to repossess without a valid BOS or court order, you may have more success.

[shellsj]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

I have just emailed both parties relaying your previous post, so I shall wait and see what they come back with!

[shellsj]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

I have had an email from varooma saying they have posted me a response 1st class recorded, and it contains a signed bill of sale for the £400 loan, but I've genuinely no idea how that can be the case???

I will post below what I DID sign and return to them

[shellsj]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Fixed Sum Loan Agreement regulated by the Consumer Credit Act 1974

Between us (the Lender) and you (the Borrower), on the terms below and on pages 2 and 3

.

Agreement Number:

LENDER:

Greenlight Credit LtdAddress: Regus Business Centre, Weybridge, SurreyPostcode: KT13 0TTTel: 0330 440 0101 Fax: 01932 268 757 Email : enquiries@varooma.comCompany Registration No: 07551524 Registered in England & Wales

BORROWER:

Shelly JonesAddress: xx
Postcode: SN10 2SJ Tel: 01249445349 Fax: Email: sjones32248@gmail.comOwner-occupier [ ] Tenant [ ] Other (please specify).......................................... ......Previous address (if less than 3yrs at address shown above): WiltshirePostcode:

CREDIT INTERMEDIARY

(if applicable) Broker Name:Address:Postcode: Tel: Fax: Email:

FINANCIAL PARTICULARS1

Amount of Credit

£400.00

Total Amount Payable by:

a first instalment of:The Amount of Credit is drawn down by you in full by our advancing thesame to you by bank transfer following the making of this agreement.followed by 5 instalments, each in the sum of:

£112.00£112.00

2

Interest

3

Document Fee (discounted)

4

Total Charge for Credit (2+3+ total of anynon-default charges shown below)

5

Total Amount Payable (1+4)

£200.00£69.00£269.00£669.00

Each instalment is due and payable on the same dayof each consecutive month commencing one monthfrom the date of this agreement or, if a date isinserted opposite, on that date.

Term of Agreement

6 months

Rate of interest

100% p.a. fixedcalculated on, and applied to, the Amount of Credit on the date of this agreementin respect of the Term of Agreement.

APR

339%

calculated at the time of making this agreement, on the assumption that thisagreement remains in force for the Term of Agreement and that you promptlyperform your obligations under this agreement.

Default interest and charges.

We may charge you default interest in accordance with clause 5 of the Terms and Conditions of this agreement, at the above interest rate, that is 100% p.a. for each day you still owethe payment. We can charge this interest even after we have obtained a court judgment against you .We may also require payment of our reasonable charges arising from late payment for : i) sending you an SMS reminder of which a £1.50 charge will be made or contacting you by telephone whenan instalment has not been paid on time for which a charge of £ 15 will be made: ii) sending an arrears notice for late payment for which a charge of £ 15 will be made; iii) sending you defaultnotice or final demand for which a charge of £15 will be made; iv) locating you at a new address when you have not notified us of a change in circumstance for which a charge of £ 100 will bemade v) recovery handling fee for which a £100 charge will be made; and vi) repossessing the vehicle as described in the bill of sale for which a charge of £ 475 will be madeSee also clause 5(b) for our costs for enforcing this agreement, which includes recovery of our costs or charges payable by us to third parties acting on our behalf .

Other charges not relating to default

Charges for using a particular payment method: A charge of

1.81% of the payment amount for payments made by credit card and a charge of £0.90 per transaction for payments made by debit card.

MISSING PAYMENTS

Missing payments may make obtaining credit more difficult.

Page 1 of 3

10990

06/07/2013

Continued from page 1

Statement of Account

You have a right under s77B of the Act (unless you entered into this agreement for your business purposes) to receive, on request and free of charge, at any time during the period of thisagreement, a statement in the form of a table showing: a) the details of each instalment owing under the agreement; b) the date on which each instalment is due, the amount and any conditionsrelating to the payment of the instalment; and c) a breakdown of each instalment showing how much comprises- i) capital repayment, ii) interest payment, and iii) if applicable, any other charges.

Right of Withdrawal

You have the right under s66A of the Act to withdraw from this agreement, without giving a reason, in accordance with the provisions below. You must then make the payment set out below.You must give us oral or written notice of your intention to withdraw from the credit agreement before the end of 14 days beginning with the day after the later of:a) the day on which the agreement is made, orb) the day on which you receive a copy of the executed agreement or, where you have previously been provided with a copy of the unexecuted agreement, the day on which we inform you inwriting that i) the agreement has been executed, ii) the executed agreement is in identical terms to the unexecuted agreement, a copy of which has already been given to you and iii) that youhave the right to receive a copy of the executed agreement, if you request it before the end of the period for withdrawal.Notice of your intention to withdraw from the agreement may be given orally by telephoning us on 0330 440 0101 or by personal visit to our business address shown in this agreement or bywritingto us to, or leaving written notice at, our business address shown in this agreement or, by facsimile transmission to us on: 01932 265 757 or, by email to us at: enquiries@varooma.comOnce you have given us notice of your intention to withdraw from this agreement, you must pay to us at our address shown in the agreement, without delay and no later than 30 calendardays beginning with the day after the day you gave us notice of withdrawal, the amount of credit provided under the agreement together with interest from the date the credit was provided tothe day we receive full payment in cleared funds. Interest will accrue at the interest rate provided for in this agreement, equivalent to the sum of £1.10 per day. You may pay us bycash, cheque, bankers draft, or by whatever other method of payment is agreed by you and us. You may contact us by any of the means shown above .

Early Repayment

You have the right, under s94 of the Act, at any time to repay in full or in part the outstanding balance under this agreement, less any rebate to which you may be entitled under s95 ofthe Act. To do this you must give us notice, by any of the methods shown above, of your intention:a) to fully discharge your indebtedness under the agreement and pay to us the amount as notified to you by us , orb) to partially discharge your indebtedness under the agreement and pay to us the amount before the end of the period of 28 days beginning with the day following our receipt of your notice , oron or before any later date specified in that notice.

Supervisory Authority

The supervisory authority under the Consumer Credit Act 1974 is the Office of Fair Trading, Fleetbank House, 2-6 Salisbury Square, London. EC4Y 8JX. Web:www.oft.gov.uk.Telephone: 020 7211 8000 (switchboard). Email: enquiries@oft.gsi.gov.uk.

Complaints procedure and Ombudsman Scheme

If you have a complaint you should write to us and we will endeavour to resolve it as soon as possible. If you entered into this agreement for non-business purposes you have the right to referany unresolved complaint to the Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR. Web: www.financial-ombudsman.org.uk. Telephone: 020 7964 1000.Fax: 020 7964 1001. Email:complaint.info@financial-ombudsman. org.uk If you entered into this agreement for business purposes you may still have this right.Please read the Terms and Conditions on page 3 before signing

IMPORTANT: USE OF YOUR PERSONAL INFORMATION

Credit decisions and the prevention of fraud and money laundering

We may use credit reference and fraud prevention agencies to help us make credit decisions . A short guide to what we do and how we and credit reference andfraud prevention agencies will use your information is set out in the section

‘USE OF YOUR PERSONAL INFORMATION’ which follows “Terms and Conditions”.

For full details, please telephone or write to us at the telephone number/address stated in this agreement.Please read the guide before you sign this agreement as by signing this agreement you are consenting to such use and disclosure of your information.We may also:

·

send you information about our products and services and those of other businesses;

·

pass your details to other selected businesses and to anyone who introduced you to us, to send you information about their products and services.[ ] To stop us doing this, write to us or tick this box[ ] To stop us or other businesses contacting you by telephone to offer you other products or services , write to us or tick this box[ ] If you are willing to be contacted by email, automated calling system or personal fax, tick this box

This is a Fixed Sum Loan Agreement regulated by the Consumer Credit Act1974.Sign it only if you want to be legally bound by its terms.Signature(s) of Borrower(s)....................................... .................................................. .................................................. .................................................. ....................................

Page 2 of 3

LENDER’S SIGNATURE

Signedfor and on behalf of the LenderDate: 06/06/2013 which is the date of this agreement.

Continued from page 2

Page 3 of 3TERMS AND CONDITIONS1 Loan

We agree to lend to you, and you agree to borrow, the Amount of Credit shown on page 1, on the terms set out in the preceding pages of this agreement and below. We will provide you with theAmount of Credit by the means stated on page 1.

2 Payment by you

a) You agree to pay us the Total Amount Payable by the instalments and at the times shown in this agreement .b) It is essential that you make all payments in full and on time (see clauses 5 and 6). If you pay by post, you will be responsible for any payment lost in the post.

3 Change of address

You must let us know, in writing, within seven days of any change of your address or name.

4 Default interest and charges

a) If you fail to pay us any amount you owe us under this agreement by the due date we may, in addition to our other rights, charge you default interest on that amount from the due date of payment untilits receipt by us, at the interest rate shown in this agreement, both before and after any judgment.b) You agree to pay to us any costs and charges shown in this agreement, which may become payable by you, and our reasonable legal and other costs for enforcing this agreement, including anypayable to third parties acting on our behalf

.5 Our right to demand earlier payment

We will be entitled to assume that you refuse to comply with the terms of this agreement and to demand payment of the outstanding balance under this agreement , after giving you a default notice, if:a) you break any of the provisions of clauses 3 or 4 of this agreement;b) you provided false information when entering into this agreement;c) you entered into this agreement for the purposes of your business and you stop trading, or if you are a partnership, the partnership is ended or court action has commenced to end it;d) you have done anything which would allow any of your belongings, property, income or savings to be legally removed to pay off any of your debts ; ore) any of the following happensi) a statutory demand (that is, a written demand for payment of a debt of at least £750, which, if not paid in full, may result in bankruptcy proceedings being brought against you) is not paid in 21 days,or any steps are taken by you or anyone else to declare you bankrupt;(ii) you take steps to enter into an arrangement or debt management plan with your creditors;(iii) a bailiff or other officer controls or seizes any of your assets following a court order ; or(iv) the landlord (if applicable) of your premises threatens, or takes steps, to seize or in any other way control any of your assets.

6 General

a) In this agreement “Act” means the Consumer Credit Act 1974; “outstanding balance under this agreement” means the outstanding balance of the Total Amount Payable, plus all other sums whichhave become due by you to us under this agreement, less any rebate for early payment to which you may be entitled; “terms” include, without limitation, the Terms and Conditions. Words andexpressions to which meanings have been given on page 1 shall have those meanings in these terms. Headings to clauses shall not affect the interpretation of any of the terms .b) References to any Act or regulation includes any amendments to that Act or regulation .c) If at any time we allow you to do something which is against any of the terms of this agreement, this will not prevent us from insisting that you strictly follow the terms at any later time.d) If two or more of you have signed this agreement as the Borrower, you are liable jointly and severally, that is together as well as separately under this agreement. This means that either of you can beheld fully liable for the obligations of the Borrower under this agreement.e) If you discharge part of your indebtedness under this agreement early we may, by written notice to you, vary the amount of the remaining instalments or the remaining duration of this agreement ,which may also automatically result in increasing the APR.f) You may, at any time, request us to communicate with you by email. You must then provide us with an email address and provided we are practically able to do so, we will send you statements ,documents, notices and letters (other than default notices) by email. It shall be deemed effective service if we write to you or email you at your address or email address last known to us .

USE OF YOUR PERSONAL INFORMATION: Condensed guide to the use of your personal and business information by us and at Credit ReferenceAgencies (CRAs) and Fraud Prevention Agencies (FPAs)

In considering whether to enter into this agreement we may search your record with us and at CRAs. Your record may be linked to your spouse /partner or other person with whom you are linkedfinancially (“associated records”) in which event you will be assessed with reference to associated records. Please be sure that you have agreement to disclose information about them.Our search will create “a search footprint”. CRAs provide us with both public (including the electoral register) and shared credit and fraud prevention information. They will add to their record aboutyou, details of our search and your application and, where relevant, the name and address of your business and its proprietors. This will be seen by other organisations that make searches and, togetherwith other information about you and those with whom you are linked financially, may be used to make credit decisions about you and those with whom you are linked financially. If you are a directorwe will seek confirmation from the CRA that the residential address provided is the same as that shown on the restricted register of directors' usual addresses at Companies House. We may use a creditscoring or other automated decision making system.We will add to your record with CRAs details of your agreement with us, any payments you make under it and any default or failure to keep to its terms. Records remain on file for 6 years after they areclosed, whether you settled the debt or defaulted.It is important that you provide us with accurate information. We may check your details with FPAs. If false or inaccurate information is provided and fraud is identified, details will be passed to FPAsand other organisations to prevent fraud and money laundering. These records will be shared with other organisations and may be used and searched by us and them, for example, to considerapplications for credit and credit related services, or other facilities, for you and any associated person; check details on proposals and claims for all types of insurance; trace debtors, recover debts andmanage your account(s); check details of job applicants and employees. Law enforcement agencies may access and use this information. We may make periodic searches at CRAs and FPAs to manageyour account with us.

. We and other organisations may access and use from other countries the information recorded by CRAs and FPAs .We may use personal information about you which we acquire in connection with any application you make to us, or any agreement you enter into with us, to manage your agreement and for statisticalor market research purposes. If we transfer, charge or assign your agreement to a third party or if we employ a third party to manage any aspect of your account, we may pass relevant information aboutyou to them. Your personal data may also be used for other purposes with your specific consent or , in limited circumstances, where required by law or permitted under the Data Protection Act 1998.Where any search or application is completed or agreement entered into involving joint parties, you both consent to our recording details at CRAs. As a result an ‘association’ will be created whichwill link your financial records and your associate’s information may be taken into account when a future search is made by us or another lender unless you file a “disassociation” at the CRAs .

How to find out more

You can contact the CRAs currently operating in the UK; the information they hold may not be the same so it is worth contacting them all. Please telephone or write to us at the telephone

number/address stated in this agreement if you want to have details of the CRAs or any FPAs from whom we obtain , and to whom we pass, information about you or if you would like to read the full