log book loans repossesion

103 Posts


Hi my daughter received a letter saying as she was the owner of a car, that had a log book loan secured on it, she was liable for outstanding debt. She had no idea what thay were on about and has has the car for over 2 years. Apparantly the man who sold the car to an auction who then sold it on to another man, was the one with the loan . My daughter was in fact third in line from the original debtee, but because she was in posession of the car it was now her debt! Log book loans had been to court for the original man but in his absence had let log book loans able to chase my daughter. The amount they wanted was well over what she paid 2 years ago and certanly not what it is worth. The loan company said she could pay that amount and she could keep car or they would sent somone round to get it. She has 2 small children and is worried. She wrote to them explaining the car only worth quarter of what they want if lucky and she indeed was an innocent victim in all of this. ( she was advised to do this by trading standards). They replied with a slightly lower figure but she has not replied as of yet. How can this happen when she even used the text message service to check if car ok to buy? Also how is she liable for anothers debt and surely they have to now take her to court to get possesion? Any help please. Thanks Daffas
0
This discussion has been closed.
Latest MSE News and Guides
Replies
To clarify, your daughter is NOT responsible for the loan. End of story. However if the car had finance secured on it then it was not for the original debtor to sell, and so in theory any further selling on should not have happened either. In practice, there is precedent for this kind of thing and in your daughters case it is very unlikely that the charge on the car would be upheld in court given that she is so many buyers away from the debtor and bought it in good faith. The risk is that LBL just come and take it - and they would. they are that kind of firm. I would recommend that she visits the CAB as soon as possible and in the meantime keeps the car somewhere else. LBL have received a final warning from the OFT over their collection practices so I would expect CAB to know about them.
Ben
& Choo Choo for trains!!