I took out a loan secured against my car , what can a baliff do if he cant find the car ?
Answers:
Why don't you register the car in someone elses name or sell it?
HAHAHA let me know what happens!thats a good idea!
You wouldn't want to have happen what can happen to you if they find out you are hiding the car.
Lets just say your in a heap of trouble.
They will find the car... At work, at home, in a parking garage.
They will find it and then you will be in deep sh*t.
They will take 'goods to the value of'
I deal with bailiffs in my job if the vehcile is on private property the bailiff cannot come onto your land but they will notify the finance house who will then get a court order which means you are liable for the court order charge (up to a £1000) & you have to hand over the vehicle or be prosecuted. Nothing in life is free we all have to pay our bills sorry to say.
They can send the sheriff out with a subpoena for you to give up the asset. If you do not give up the car they can take you to court and garnish your wages.
:o)
Effectively the car belongs to the finance company. First they will give notice in writing that they are seeking to recover the car for whatever reason (money outstanding etc) then they (usually a collection agency) will come to collect. If they are unable to collect the because you refuse to tell them its location they will apply for a CCJ or court order to sieze the car (this is when court appointed bailiffs step in), after this you must hand over the car or face prosecution. At every stage costs are added to the amount you owe. The best thing to do is to speak to the loan company and either hand over the car or make arrangements to repay what you can. In truth, reposesion is the last resort for most loan companies, they would rather you pay them at a lower rate than have to recover then sell a car at auction.
The Secured Loan information post by website user , LoanSecuredLoan.com not guarantee correctness.