Ultimate sadness - my baby got repoed!

[caesius]

I am firmly of the opinion that some kind of legislation is in order to prevent this sort of thing. Something along the lines if you sell a vehicle knowing that money is owed on it and do not tell the buyer then you become accountable. Something along those lines with an appropiate penalty. As it now stands it's buyer beware. Should be seller beware.

Skyryder

Hell yes. Someone's gonna be held accountable so why not make it the dishonest seller. It would be so easy to make a law like this too.

[caesius]

Problem with that is it becomes a he said she said situation .. the previous owner will always say ... I told them ... and the new one will say ... no they did not inform me.

So the seller will still be at fault, wouldn't matter if they told the buyer or not.

[James Deuce]

http://www.consumeraffairs.govt.nz/c...ossession.html

http://www.brookersonline.co.nz/data...latedDocuments

http://www.consumer.org.nz/topic.asp...0rights&bhcp=1

From Consumer Affairs site:
"Before repossession

Before repossession the following rules apply:

* A lender cannot take possession of the goods unless the borrower is in default.
* The lender must serve a pre-possession notice on the borrower and every guarantor, unless they have reasonable grounds to think the goods have been, or will be, damaged or removed.
* Every pre-possession notice must give the nature of the default and give the defaulter at least 15 days to remedy the problem."

Problem is the owner is in Samoa and GE can can rightly say we couldn't contact the defaulter. Having been on the receiving end of an illegal Repo (no notice, no existing default, 4 guys all bigger than me) I can tell you that the company that performs an illegal Repo gets absolutely whacked with mind boggling fines.

[Jonty]

This is sad to hear, but the law is clear. The PPSA and PPSR were set up to deal with this exact issue. If you buy from a dealer then the PPSA states that you take the goods free of any security interest granted by the seller (registered or not) (further a licenced motor vehicle dealer must state whether or not any security interests are on the bike).

The PPSR was set up as a notification system to the world at large. If you type in the Vin number and/or plate number into it then you will see if there are any security interests registered over the vehicle. If the party has a security interest and failed to register it on the ppsr then you take it clear title. It costs $2 and is the best protection you can get.

You need to look at this from the perspective of a lender (which can be hard I know), but if lenders have to rely on the owner telling a seller that there is security then you are never going to be able to secure anything (and none of us will ever get bike finance).

Once again, it is sad to here what has happend, but finance companies usually are only interested in getting cash back, so keep on the phone to them and I am sure they will do a deal to pay the remainder.

If anyone is unsure of where they stand on something like this, feel free to PM me and I can give you the details you need to search.

Good luck mate - hope it all works out.

[HenryDorsetCase]

Well how hard would it be for there to be a stop in the change of ownership process if money was owing?

Thereby protecting everyone in the process?


Not hard but I bet they are more interested in bribing votes than sorting out the injustices that happen to normal NZs.


But yes its not hard to text FIND to get the info.

registered ownership isnt now, nor has it ever been, title to the vehicle. Its NOT like a land title! all the rego does is find out who is liable for the tax on the thing.

[HenryDorsetCase]

This is sad to hear, but the law is clear. The PPSA and PPSR were set up to deal with this exact issue. If you buy from a dealer then the PPSA states that you take the goods free of any security interest granted by the seller (registered or not) (further a licenced motor vehicle dealer must state whether or not any security interests are on the bike).

The PPSR was set up as a notification system to the world at large. If you type in the Vin number and/or plate number into it then you will see if there are any security interests registered over the vehicle. If the party has a security interest and failed to register it on the ppsr then you take it clear title. It costs $2 and is the best protection you can get.

You need to look at this from the perspective of a lender (which can be hard I know), but if lenders have to rely on the owner telling a seller that there is security then you are never going to be able to secure anything (and none of us will ever get bike finance).

Once again, it is sad to here what has happend, but finance companies usually are only interested in getting cash back, so keep on the phone to them and I am sure they will do a deal to pay the remainder.

If anyone is unsure of where they stand on something like this, feel free to PM me and I can give you the details you need to search.

Good luck mate - hope it all works out.

Agreed. I only ever search the plate number (and make sure it comes up with what I'm buying...)

[HenryDorsetCase]

Hell yes. Someone's gonna be held accountable so why not make it the dishonest seller. It would be so easy to make a law like this too.

um. it already is illegal.... you cant make it more illegal.

[oldrider]

There must be someone we can blame for all this! clicks fingers, click, click!

Could it be?............no,..click....no,......must resist the temptation!

Dreams of someone with funny front teeth!

SKYRYDER!...............The Labour government! John.

[Pancakes]

This happened with a friend with a car he purchased (Two days after he got it home).

Anyway - he contacted GE (or however it was) and offered to pay the outstanding amount. There is no privacy law that stops them telling you how much is owing.You may find that its not that much, or that GE is willing to take XXX as they are only trying to recoupe some of their cash.

Best of luck and hope that it works out for you.

C

Yeah there is, I work in this area, the fact that most companies employees don't know or stick to it or that its a pain for everyone involved doesn't alter that either!

Some of you who know me will know that I don't use this sort of language very often, so they'll know I don't use it lightly...

GE Money are the biggest bunch of scum-sucking fraudulent immoral cunts in an industry packed with shady companies. They're entirely willing to overlook any law provided it's to their advantage, but if you ever want anything from them, be prepared to sweat blood. Keep notes about every conversation. even better, record every conversation if you're able. Whenever you speak to someone, get their full name. If they won't give it, speak to their supervisor. Ask for written confirmation of everything agreed upon. Do not take phone calls outside of business hours (one of their favourite tricks) as it's impossible to call them back outside of business hours.

FishB8 - I feel sorry for you. Hopefully getting the bike back will not prove too much of an issue. However, please be warned that GE Money will stoop to any level to get money out of you. Some of their actions are down to general disorganisation and incompetence rather than malintention, however they're not above outright fraud or harrasment if they think it might work.

There is a difference between GE Money and GE Auto. Make sure your speaking to the right people. You might just find that as frustrating as it is GE are prbably the most adherant to all laws, in their favour or not, one of their big things as a company is general and legal compliance. They are around first and formost to make money though and they are damn good at that! I would never work in and imagine it would be horrible to work in any companies collections team, all the bloody hopeless cases you'd be talking to all day!

Fishb8, do call back and ask for a supervisor etc, just don't get off the phone and keep going up, there are always people who can do something. I got free line rental and $70 credit from Telecom yesterday cos of a 10 minute fault, if the person your talking to can't help go up! Good luck,

[Pancakes]

I suppose its too late now, but you can actually tell them to get fucked!

If the bike is on your property, they cannot legally remove it. They can only remove bikes from the original debtors property.

If they don't like it, call the cops, they'll be on your side.

There's a little place in hell waiting for finance companys, bastards.

If the bike is on your property but is theirs they can get it, you can go onto other peoples property unless there is a standing tresspass order. If you lend your car to someone and they park it at their mates place who you don't know you can go and drive off in it.

Totally agree that they should say hey buddy, someone owes money but if you pay $X we can walk away, who knows, you might even reccomend them in the future! Wonder who the profit does go too?

[sAsLEX]

registered ownership isnt now, nor has it ever been, title to the vehicle. Its NOT like a land title! all the rego does is find out who is liable for the tax on the thing.

So the only legal proof the bike is your would be the receipt from the seller?

And if this receipt only stated the bike but not the money owing then you have not purchased the security along with the bike......


But a guess says that logic doesn't hold.

[Pex Adams]

You know FishB8, if you were only out riding the bloody thing, then this whole mess wouldn't have happened!

[fergie]

fishb8, any update?

[Beemer]

Lucky I had the receipt from Motorad when I bought my F650CS new - no worries about any money owing when I came to sell.

Just goes to show that a few simple checks can make a world of difference further down the track when buying a vehicle. Expensive lesson to learn though.

[Skyryder]

There must be someone we can blame for all this! clicks fingers, click, click!

Could it be?............no,..click....no,......must resist the temptation!

Dreams of someone with funny front teeth!

SKYRYDER!...............The Labour government! John.

Just when I thought you had your 'addiction' under control you suffer a relapse.

Punishment. One hundred lines. I love Helen.

Skyryder