Log Book Loans - Can they still repossess the car under the hire agreement

[sludge78]

I took out a loan last June. Like others I was given a 5wk payment holiday. However the weekly amount did not add up to the 5wk sum. I was advised if I paid the loan off before the first payment was due (which I assumed was at the end of the 5wks) there would be no interest. When I called on the 3rd week £800 had been added!

 

I have been to the C.A.B etc as I never received termination rights in the post and no responses to any letters (just after taking out the loan my husband was made redundant and we could not afford the £119 pw loan - my wage was £749 per month and our rent was £600 - LBL saw the wage slips and rent agreement etc and were happy to lend in my sole name). CAB advised that the loan could be null and void and to offer the car as full and final settlement but they were unwilling to accept that.

 

We awoke on Tuesday morning to find that the car had been clamped in the night. We contacted the police who had not been informed (as the notice on the car stated) and advised that it had been clamped illegally, however they were unwilling to get involved as it was a civil matter.

 

In the end we let the recovery agents take the car (LBL have our spare key anyway). We have raised a query to the high court to see if anything has been lodged as advised. However, as in Scotland I believe that they have to get a sheriff court action?

 

We had to obtain a duplicate log book last year in order to retax the vehicle (and correct the address as when the loan was taken out we had only just moved so the logbook showed the previous address).

 

What we were wondering is, due to the questionably legality of the contract and actions, can we go along to BCA and request our car back?

 

My husband is the legal owner (he has documentation showing he purchased it), I was just the registered keeper for tax/insurance purposes. He never signed anything with LBL.

[sludge78]

I took out a loan last June. Like others I was given a 5wk payment holiday. However the weekly amount did not add up to the 5wk sum. I was advised if I paid the loan off before the first payment was due (which I assumed was at the end of the 5wks) there would be no interest. When I called on the 3rd week £800 had been added!

I have been to the C.A.B etc as I never received termination rights in the post and no responses to any letters (just after taking out the loan my husband was made redundant and we could not afford the £119 pw loan - my wage was £749 per month and our rent was £600 - LBL saw the wage slips and rent agreement etc and were happy to lend in my sole name). CAB advised that the loan could be null and void and to offer the car as full and final settlement but they were unwilling to accept that.

We awoke on Tuesday morning to find that the car had been clamped in the night. We contacted the police who had not been informed (as the notice on the car stated) and advised that it had been clamped illegally, however they were unwilling to get involved as it was a civil matter.

In the end we let the recovery agents take the car (LBL have our spare key anyway). We have raised a query to the high court to see if anything has been lodged as advised. However, as in Scotland I believe that they have to get a sheriff court action?

We had to obtain a duplicate log book last year in order to retax the vehicle (and correct the address as when the loan was taken out we had only just moved so the logbook showed the previous address). What we were wondering is, due to the questionably legality of the contract and actions, can we go along to BCA and request our car back? My husband is the legal owner (he has documentation showing he purchased it), I was just the registered keeper for tax/insurance purposes. He never signed anything with LBL.

[sludge78]

I have just located my "sale agreement" from LBL - I presume this is the same document as a "bill of sale".

 

The document shows that LBL have purchased my vehicle for £3480.47. I only received a cheque for £3000 (was meant to be a 5wk payment holiday but 5x£119.52 obviously does not add up to £480.47). Are they in breach of contract for not providing the full amount?

 

Can they still repossess the car under the hire agreement (I sold them my car for £3000 but am buying it back at £6900!) even if the sale agreement is null and void?

[JonCris]

They are if they are charging interest on the full amount of £3,480.47 in fact I suggest it makes their agreement unenforceable