Log Book Loan Scam

[Sp!ke]

A neighbour had his car 'repossessed' by mistake - the debt collectors got the plate wrong by one character, i.e. it was not his car they were actually after.

Something very wrong here. He should be compensated for all his out of pocket losses as well as payment for anguish caused and the sheer inconvenience caused by the debt collectors shoddy mistake.

Any decent claims lawyer would have a field day - no win no fee, what has your neighbour got to lose - unless perhaps you dont have the whole story.

 

[Deleted member 37751]

1. It was the case indeed, I know the neighbour well, and knew his car.

2. The car's actual value was quite low, so he is reluctant to pay a solicitor because given the precedence (which the debt collectors provided and he checked - I didn't check it myself) he felt that he might not win or at any rate not be granted costs. He's thinking of going through the Small Claims Court, but this will obviously limit the amount he can ask for. That was the latest when i last spoke to him a couple of weeks ago.

He is a young professional and is doing well for himself, it's not the actual financial loss that he is annoyed about (he did like the car though), but the whole process and the time wasting, and he does not want to let them get away with it if he can.

But those debt collectors are well-seasoned in the ins and outs of the law, and seem to have utter disregard to anything that is down to reason or morality.

Let me get this straight; your neighbour is pretty much saying that someone can steal a car and if caught they can say that there's been a mix-up with a finance repossession and they got a digit wrong on the license plate?

And as long as I'm a registered bailiff/debt collector, I can get away with this?

 

[markjay]

Let me get this straight; your neighbour is pretty much saying that someone can steal a car and if caught they can say that there's been a mix-up with a finance repossession and they got a digit wrong on the license plate?

And as long as I'm a registered bailiff/debt collector, I can get away with this?

Yes

 

[markjay]

Or... lets pout it this way. Theft involves intent, so they did not steal the car, they made an honest mistake, or at worst they have been negligent. Under these circumstances the only issue is one of compensation - mistakes do happen, and people are sometime negligent, the law in such cases is about the right compensation.

...and my neighbour is saying that the compensation available to him - based on precedence, apparently - is very minimal.

 

[brucemillar]

Well this for sure would set some kind of thieves charter. Register as a Bailiff go out and start stealing cars.

Mark. Are you confident your neighbour did not forget to keep up his finance repayments?

Absolutely no offence intended in my remark. But like others I would need to be convinced that it legal or loophole legal for Bailiffs to turn up and steal your car, sell it, trouser the money and be gone with absolute impunity.

 

[markjay]

Well this for sure would set some kind of thieves charter. Register as a Bailiff go out and start stealing cars.

Mark. Are you confident your neighbour did not forget to keep up his finance repayments?

Absolutely no offence intended in my remark. But like others I would need to be convinced that it legal or loophole legal for Bailiffs to turn up and steal your car, sell it, trouser the money and be gone with absolute impunity.

100%. He is straight as an arrow, and quite wealthy. He had an old car which be brought over from his native country in Europe, where he bought it for cash some years ago, and which he much liked, in spite of it having little value in the UK now. He bought a similar (albeit newer) car since.

He actually came to see me when the car disappeared, and spoke to the police who thought the car was on its way to Africa by then...

 

[Rory]

The scary thing is there is nothing stopping me taking a loan on any car I see in the street, I have taken out finance on over 50 cars in the last 15 years and not once have they asked for any more than the reg and vin number.

Something to think about!

I think that's a different thing. You're not taking out loans ON cars, your taking out loans FOR cars. You're getting a personal loan to buy a car, it's not secured on the car itself.

Log book loans do take the car security.

 

[janner]

The car's actual value was quite low, so he is reluctant to pay a solicitor because given the precedence.

It costs nothing to speak to a solicitor (usually first appt is free).
I can't see how a 'precedence' can have been set in a case like this?

 

[alexinessex]

Have read this thread with interest as it bugs me when companies get away with stuff like this.

I would have informed the police firstly that the car was taken without consent. Secondly Id have written to Trading Standards as Id have no idea how often they do make mistakes, maybe too often! And then finally taken the company to small claims court for the full value of the car plus court expenses and my secondary losses such as my time.

Small claims would cost about £100 online and you can claim up to £5000.
Id imagine the company would pay up well before it went to court for fear of losing and secondly the costs for them to defend a position they would surely lose.

 

[219]

Since the debt collectors admit the car was repossessed in error , they clearly did not have title to auction it . Despite being auctioned , the car still belongs to the rightful owner . It should simply be a matter of getting the current keeper's details from DVLA and demanding the car back .

It is no different to any other case where a stolen car is sold on to an innocent third party : the car still belongs to the original owner ( unless he has accepted insurance payment for it , in which case it then belongs to insurance company ) .

 

[Rory]

It seems an incredible story but there are some weird quirks in the law. A somewhat dodgy guy had his Merc impounded by the Police while he was away on holiday and the car then ‘disappeared’. Police refused to pay compensation and his insurance wouldn;t pay out. He went all the way to the high court against the Police and still lost. Cost him £100K in legal bills.

 

[Timster]

Bumping an old post as there has been some recent talk on log book loans.

 

[Bakili]

BBC Watchdog: Inherited a log book loan? You're not alone... - Consumer Forum

 

[joecash]

Justice, it would appear that humble people hardly ever get it within the true meaning of the word. As far as our judiciary are concerned - Justice means someone wins and someone loses if you win its justice - if you lose it could cost you your house, literally. But they still get their pound of flesh. Don't ask me what the moral of the story is ..........

 

[joecash]

BBC Watchdog: Inherited a log book loan? You're not alone... - Consumer Forum

It would appear that our politicians don't give a toss