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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 30896
Experience:  Over 5 years in practice
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A finance company financed me an excavator when they did not

Customer Question

A finance company financed me an excavator when they did not have legal title to excavator can they do this
Submitted: 3 years ago.
Category: Law
Expert:  Stuart J replied 3 years ago.
Thank you for your question here on Just answer. It is my pleasure to try and assist you with this today. Please bear with me if I need to ask for any further information from you in order for me to be able to advise you fully. My name is Law Denning and I am a practising solicitor. I have been an expert on this website in UK law since 2008. During that time, as you appreciate, I have answered thousands of questions from satisfied users on a variety of subjects.

Because we are all in practice with clients and court and other users, I might not always respond in minutes, particularly evenings and weekends. Please bear with me in that case. I will be online and off-line all day most weekdays and weekends.

Who has legal title to the excavator?
Customer: replied 3 years ago.

the person who has owned it from day one the finance company financed the excavator serial no ccc662 to me for 120,000 i paid finance for three months, went they went to repossess machine it was owned by drotlaw plant, they are now chasing me for the money, as they can not repossess the machine as they never owned it. the finance company believed they purchased this machine from another company who they paid 120,000 for it, should the finance company be persuing the person who committed the fraud

Expert:  Stuart J replied 3 years ago.

You arte going to give clear details please because the facts are muddled up.

Thanks

Customer: replied 3 years ago.

finance company financed me a machine for 120,000 they believed they owned but they did not


 


they believe they purchased it from a company and it was their machine to finance.


 


the machine was owned by another company not by the finance company

Expert:  Stuart J replied 3 years ago.


Obviously, they cannot finance a machine that they do not own.

What exactly is the problem?

Customer: replied 3 years ago.

the finance company are taking me to court for the balance owing on the excavator, i took finance from the finance company on the said excavator believing they owned it. they did not own it has they financed the excavator previously to another company who could not afford the payments, i then took over the finance, not knowing that the previous people who obtained the money from the finance company for the machine did not own the machine.


 


neither the finance company or the company who originally benefited from the payment for the machine owned the machine they were all fraudaulent transactions

Expert:  Stuart J replied 3 years ago.


Ignoring title, did you pay the finance on the excavator or was it repossessed because you didn't pay.
I need the full details please not just snippets.

Thanks

Customer: replied 3 years ago.

Paid three months was then repossessed because i didnt pay, when they went to repossess machine from quarry where it was working it was then found it that it was owned by another company drotlaw plant so machine was not repossessed

Expert:  Stuart J replied 3 years ago.
Thank you. I am going to opt out of this for another expert to consider. Please do not reply or it comes back into my inbox. Another expert will pick it up at some stage. It is now open to all experts.

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