My Loan and the Bill of Sale

mhenry9885

Howdy,

I have a loan secured on a car by a 'Bill of Sale'

I am looking to get the Bill of Sale declared void / set aside based on the following reasons. I will continue with the loan payments as it will just be a normal unsecured loan if declared void.

There is a statement on the Bill of Sale that states:-

"Witnesseth that in consideration of the sum of £xxx now paid to xx by xx."

This has to be there as part of the schedule of the bill of sale but the amount is blank. So effectively the car is secured on a loan amount of £0

The big problem with the document is:-

The Bill of Sale act states that the document must be signed by one or more credible witnesses. It is signed by the business manager who wasn't even in the building at the time. I have somebody who was there at the time willing to write a witness statement to that effect.

To top it all off I have an email from the week before from the business manager stating that she will not be in on the day and to see the salesman who will do the paperwork with me.

She can't witness if she's not there!!

Anyway, I am looking to get this declared void based on the above and I am a bit stuck with the court form. I believe an N244 is the correct one to use?

Does anybody have any ideas how to get it declared void?

jonesMUFCforever

If you get the Bill of sale made void how will this affect the debt owing on the car??

It is not going to go away.

mhenry9885

If you read my original post..... the bit that starts 'I will continue with the loan payments' (just incase you can't find it) you will find that i'm not trying to void the loan or get out of paying.

If the finance company haven't bothered doing the paperwork correctly then why shouldn't I take advantage of it?

An unsecured loan is better than a secured loan as I am free to sell the car and pay off the bulk of the outstanding finance.

Does that clear things up?

kev.s

what to you hope to gain by this then?
no you won't be able to sell the car as you do not own it the finance company do.

mhenry9885

Is the Bill of Sale is declared void / incorrectly executed then the fixed sum loan agreement reverts back to a normal unsecured loan as there is no longer security.

Bill of Sale is not the same as hire purchase.