Mr Barratt entered into four credit agreements with Log Book Loans. He was the owner of a small collection of 7 classic, mainly 1970’s, vehicles. Log Book Loans secured the agreements on four of those vehicles by ‘Bills of Sale’. This meant that if Mr Barratt were to default on payments, Log Book Loans would seek, without a court order, to take those vehicles and to sell them to pay off the loans.

Unfortunately, a combination of financial difficulties, high weekly repayments and APR soon led to Mr Barratt falling into arrears with the accounts. Log Book Loans instructed Gemini Bailiffs to take the cars which were being used as security for the loans.

Gemini attended the site where Mr Barratt’s vehicles were stored and took the cars which were secured by Bills of Sale and three other vehicles which were entirely unrelated to the loan agreements.

Mr Barratt immediately sought legal advice in relation to the actions of Log Book Loans and Gemini.

He discovered that the form of Bill of Sale used by Log Book Loans was possibly void due to a non-compliance with the Bill of Sale Act 1878. The credit agreements were arguably Extortionate Credit Bargains.

Gemini/Log Book Loans had absolutely no right to take the 3 cars which were unrelated to the loans. As a result Mr Barratt could claim damages or could seek a court order for the cars’ return.

Mr Barratt therefore started a court case. He successfully obtained an order from the court for the return of the three outstanding cars. Having recovered one of the cars, Mr Barratt was paid a considerable sum by Log Book Loans to settle the case. Log Book Loans also “wrote-off” the outstanding credit agreements, and paid Mr Barratt’s legal fees.