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viner1920

11-03-07 10:53 AM

One for the legal beagles

Legally if goods are obtained with a "personal loan", can those goods be sold before the term of the loan is run?
Thanks

timwilky

11-03-07 10:57 AM

Re: One for the legal beagles

Of course they can, a personal loan is to an individual and is not secured against an object.

Dan	11-03-07 11:17 AM

Re: One for the legal beagles

Don't tell me - you HPI'd a bike and it's come back showing a 'Finance Agreement' from Black Horse, but the type of agreement shows as 'Personal Loan'.

Black Horse are abusing the HPI register and logging details of Personal Loans against bikes. They did this with my SV, and I had to ring them up and demand they remove the entry from the register when I PX'd it.

They don't have any legal claim over the bike they told me, so ignore it.

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