In an unforeseen twist of events, Roger Trachsel, a Winnipeg man, found his car being used as collateral, after kindly renting out his basement suite via a Kijiji ad during the spring of 2023.
Trachsel just wanted to aid someone in a tough situation. However, not long after the tenant moved in, the homeowner found his wedding ring missing and traced it back to the new occupant. As you’d expect, he was immediately evicted.
Fast forward to almost a year later, and Trachsel had an unexpected visitor—a bailiff from Recoveries of Manitoba. The visit was concerning the previously evicted tenant and, more startlingly, culminated in the seizure of Trachsel’s car. It turned out the deceitful former tenant had photographed Trachsel’s Toyota Venza and utilized it as collateral to secure a loan from BHM Financial, a company based in Quebec.
Astonishingly, the tenant had acquired a personal loan using the car as fraudulent collateral. When he failed to repay the loan, BHM Financial issued a lien on Travels’ vehicle. Despite the bailiff’s request for the company to drop the case, Trachsel mentions that his car still has a lien attached, hence his hesitance to drive it.
Hopeful for a resolution, Trachsel reported to the police and reached out to the Better Business Bureau. He’s considering taking the matter to small claims court if necessary.
_Trending Stories:_
* Donald Trump found guilty of all charges in New York hush money case
* Person dies after falling into running jet engine at Amsterdam airport
According to Trachsel, this deceitful process was too easy for anyone with such knowledge. Darcy MacPherson, a law professor at the University of Manitoba, agrees that banks should ensure due diligence when giving out loans.
BHM Financial has yet to respond to Global News’ request for comments at this time. Trachsel, having learned his lesson, hopes his plight can help others stay vigilant.
_© 2024 Global News, a division of Corus Entertainment Inc._
## Frequently Asked Questions
### What actions did Trachsel take after finding out about the scam?
Trachsel reported the situation to the police and reached out to the Better Business Bureau. He’s also considering filing a lawsuit through the small claims court for compensation and resolution.
### How did the scammer get a loan with Trachsel’s car as collateral?
The scammer took a photo of Trachsel’s vehicle and presented it to BHM Financial as collateral to secure a loan. When the scammer defaulted on the loan repayments, the company placed a lien on the vehicle.
### What can be done to avoid such a situation in the future?
It’s crucial to be aware of deception when renting out property and scrutinize prospective tenants thoroughly. For added security, restrictions should be in place to guard against asset photographing or disclosure without the owner’s consent.
