Log book loans try and strike again

[BuZzUK]

HI
Been reading up on all your peoples comments regarding LBL due to the problem I had this morning, waking up to find a clamp on my car!!
After ringing LBL's to find out how come I only missed one payment why they have clamp my car.

First the history of loan

Loan amount £2000. In October 2006
Car Value £10000.
Missed one payment of £257 but they say its 7 weeks over due as I pay monthy and always a month infront. But to my working out that means Im only 3 weeks behind.
Signed the agreement at home
Wasnt told it was a bill of sale, if i was told this i wouldnt have taken the loan out.

So this morning I rang them up and Im told that if I didnt pay the full amount to clear the loan, which now turns out to be £5883.23 in full they would take the car within an hour. How can £2000. turn into £6000 when Im only a month behind??
Or I could pay £1860.00 for the arrears for the 7 weeks!!! so i asked why is it this much as for 8 weeks in would only be £514.00 Im told the is how much its gone upto because of the late payment charges. I told them Ive only missed one payment, and was told that no because they count it as weekly payments not monthy.

So i told them ok they will have to give me longer than the hour the said i had to go get the money for them and i need to get to a bank, and I've not got a car to use, so I rang the clamping guy back up told him I need 2 hours which he agreed was ok.
I then used an angle grinder and cut down both sides of the clamp. As a criminal act is being described it is sufficient to show only what was done and not how it was done. [i] was panicing a little but it only took 10 mins.

I rang the clamping guy back up told him where i put his clamp and told him to get it welded back up to send me the bill, I was nice to him about it so to be honest he was nice about it. He did start to say that I had broken the law, but I told him that there was no court order so really i think he had broken the law by clamping it.

So I've moved my car and went and brought another one to use for now (was lucky that i could afford to do this). The car is way out of reach and to be honest I am not paying back more than the money i borrowed as Im not being bullied and lied to.

So now legally how do i stand? thought you people would be this best people to ask.

Do LBL put the car on HPI list? if so can I take the car off HPI?
Can I sell the car on?
And can they take the car from the person i sell it to?

Kind regards
Buzz

[Rob S]

It seems their practices are somewhat dubious. Have they at any time sent you a default notice, or any correspondance relating to the missed payment? And do you have a copy of the original agreement you signed, including the alleged bill of sale?

It might be worthwhile writing to them stating that you are disputing the account and to cease all recovery action whilst the dispute is ongoing. Also ask them for a full breakdown of your account including all the charges they have added. If they don't respond then send in a Data Protection Act subject access request. And consider going to the local trading standards office.

You could contact HPI and ask them if there is anything on the vehicle. Finally, do you still have your V5 registration document?

[BuZzUK]

Hi
Yep Ive still got all the paperwork relating to the loan, I will write to them regarding asking for a breakdown, they did send me letters but at the time I was away in spain over xmas and new year and only got back last week, and to be honest only opened a couple of there letters and they where just saying Ive missed a payment and been charge £12 for the letter, so I didnt open any of the others as thought they'd all be the same, But opening them yesterday I found that there was a default notice giving me 7 days!!
They have the V5 but I will apply for a new one today, can i do this as I didnt sign the one they have so they shouldnt be able to use it.
Kind regards

Buzz

[v_j_r]

@BuZzUK:

You obviously hav'nt read all the threads the position on the V5 is clear, it is not proof of ownership but proof of registered keeper only.

Your replacement V5 will show as "Duplicate" and it will be recorded as such,also they Lbl ltd will be notified via various means that an application has been recieved for a duplicate.

As far as the V5 you did'nt sign the one in there possesion does'nt matter it's got your personal details on remmember.

They will also know within a resonable time that you have a second vehicle if thats the case as you stated so beware!,also not a good idea to state what you have been spending your money on xmas in spain etc nor announcing every move you make it therfore is very likely that they will act sooner rather than later this is a public forum?.

[Rob S]

Wouldn't that be the case only if Log Book Loans, on receiving the V5, register the vehicle in their name? If they just retain the V5 for safe keeping then they won't be notified.

[mbdiss]

Hi Buzzuk referring to your first post technically LBL own the car not you so hiding the car could be classed as theft.
How much off the agreement have you paid? If you have paid just over half you should be able to exercise your right to terminate the contract and hand the car back.

As for the wheel clamp good on you but the clamping company could take you to court for criminal damage and could all so bring the police in, as the clamping company own the clamp.

If the car is on a HPI agreement then it will be listed and you can not remove it from the list until all out standing finance is paid off and if you sell the car on with out the permission of the finance company they car repossess the car from the new owner plus anyone coming to look at the car is lightly to do an HPI check anyway and will see that it has out standing finance on it.

Referring to your third post if you are the registered own off this car you should have the V5 document. So you must check this. I don’t think that the DVLA would issue one if you are not the registered keeper.

I think that you should take Rob's advice.

Sorry I can’t be of more help.

[BuZzUK]

Hi V J R
If you look at what I said the payment wasnt made while I was in Spain but I couldnt do anything about that, at the time I didnt know that money wasnt paid into that account, it was only when I got back last week that I received the letters from them saying that the payment was late, I pay them monthy they count it as weekly and put £1300 extra in cost for me missing just one payment!!!! About me buying another car, this as nothing to do with them. The loan was on the other.
The clamping guy was cool about it all, and I checked up and he needs a county court judgement and then a court order before they can clamp it, so really he was breaking the law for clamping it. And even if not and they did me for criminal damage then hmm think I'd rather pay £200 in a fine than lose £10,000 to a company that needs to be looked into.
So thats was my next step, after reading some of the comments on this thread and others and this now happening to me, I thought its time i rang an old buddy of mine that I used to serve with, who is now a freelance undercover reporter, so the next step is getting LBL the right public advertising they DONT want to have, and letting people really know how they work. So hes working along side me on this one.
I would have paid them the money they was outstanding for the 2 months no worries, or even the £2000 I had borrowed + the monthly payment I had missed, but for them to turn round and ask for £6000 after only borrowing £2000 for 3 months at which i only missed 1 months payment is a CON. So the only way I can see me getting this into court is for them to take it there, at which after the phone recording I have of them telling me I now owe £6000 and have an hour to pay, and them not telling me that I was signing a bill of sale, when I even asked the person before I took the loan out, that if for some reason a payment was late what happens, and told that if your over 2 months late they will apply to court so they can get a court order to collect the car, but then it takes another month for that to happen, so would give you the time to catch the payment up, and then they couldnt do anything about it... hmmm isnt that being misslead by there staff??? because that was total [edit]
Also just found out today for anyone out there that is going through this problem, I've spoken to a pawn broker and hes taken a copy of there LBL contract and looking into this, as he told me they work the same as a pawn broker so he thinks they dont have a legal leg to stand on as there was a case involving a farmer that leant money on the papers for some cows he owned, and it ended up in court and the firm lost because when they lend money they are suppose to keep the item the are lending on and not paperwork to the item be it cows or a car thats why pawnprokers dont lend money for cars on there logbooks, and as he said if its one law for one then the law stands for all!! so will keep you informed with what he finds out for us.
Kind regards

Buzz

[danmav]

Hi Buzzuk,

It is highly likely that the original bill of sale that secured the loan against your vehicle is invalid. LBL have a reputation for completing these incorrectly, there is also the potential that the original CCA agreement is invalid.

You need to get a specialist (CAB or solicitor) to check the bill of sale to see whether it has the relevant required clauses, that the interest rates match the original loan and the consideration amounts are correct. These are just a few things that there agreements fall down on, but as I said you will need a specialist to check them.

If the bill of sale is proven to be invalid then they cannot remove your car and you are left with an unsecured loan, all be it at a very high interest rate. However if the credit agreement is invalid then thats a big bonus as you wont have to pay and they cant pursue it through the courts.

Really go for it with LBL there has been a lot of success with proving bills of sale are invalid.

Good luck.

[josh_lynam]

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[nellie75]

Originally Posted by BuZzUK

Hi V J R
If you look at what I said the payment wasnt made while I was in Spain but I couldnt do anything about that, at the time I didnt know that money wasnt paid into that account, it was only when I got back last week that I received the letters from them saying that the payment was late, I pay them monthy they count it as weekly and put £1300 extra in cost for me missing just one payment!!!! About me buying another car, this as nothing to do with them. The loan was on the other.
The clamping guy was cool about it all, and I checked up and he needs a county court judgement and then a court order before they can clamp it, so really he was breaking the law for clamping it. And even if not and they did me for criminal damage then hmm think I'd rather pay £200 in a fine than lose £10,000 to a company that needs to be looked into.
So thats was my next step, after reading some of the comments on this thread and others and this now happening to me, I thought its time i rang an old buddy of mine that I used to serve with, who is now a freelance undercover reporter, so the next step is getting LBL the right public advertising they DONT want to have, and letting people really know how they work. So hes working along side me on this one.
I would have paid them the money they was outstanding for the 2 months no worries, or even the £2000 I had borrowed + the monthly payment I had missed, but for them to turn round and ask for £6000 after only borrowing £2000 for 3 months at which i only missed 1 months payment is a CON. So the only way I can see me getting this into court is for them to take it there, at which after the phone recording I have of them telling me I now owe £6000 and have an hour to pay, and them not telling me that I was signing a bill of sale, when I even asked the person before I took the loan out, that if for some reason a payment was late what happens, and told that if your over 2 months late they will apply to court so they can get a court order to collect the car, but then it takes another month for that to happen, so would give you the time to catch the payment up, and then they couldnt do anything about it... hmmm isnt that being misslead by there staff??? because that was total [edit]
Also just found out today for anyone out there that is going through this problem, I've spoken to a pawn broker and hes taken a copy of there LBL contract and looking into this, as he told me they work the same as a pawn broker so he thinks they dont have a legal leg to stand on as there was a case involving a farmer that leant money on the papers for some cows he owned, and it ended up in court and the firm lost because when they lend money they are suppose to keep the item the are lending on and not paperwork to the item be it cows or a car thats why pawnprokers dont lend money for cars on there logbooks, and as he said if its one law for one then the law stands for all!! so will keep you informed with what he finds out for us.
Kind regards

Buzz

Hi Buzz

Great big pat on the back for standing up against these lovely kind and caring company

Very interesting point regarding the pawn broker situation, please keep us updated.

I am sure your reporter friend won't be short of stories and I am willing to tell mine so give us a shout They aparently sold my car for half its value and gave away my private plate worth 30k for free - see they are generous

Keep up the good work and keep in touch

Kind Regards

Nellie x

[v_j_r]

There's only one person who has effectivley brought these people to book so far and thats myself!,the trouble is you are all looking at the complicated legal scenarios but guess what it's the simplest of things that are often overlooked thats the killer?.:o

I've said many times and i'll say it agian i am waiting for a posting of success against Lbl ltd other than myself take a look in this thread all persons here have failed legally, guess what i'm still waiting!.

Regards.

[nellie75]

VJR

You tend to be very cyptic in your personal knowledge of LBL

I dont no of anyone other than myself who has comenced legal proceedings against them and don't see how you can have any power against them other than the law

[horsemad]

hi everyone i'm new to this, please be patient with me lol. about lbl my hubby and i took out a loan and have got behind on our payments too i read on some of this that the bill of sale is hard to get out of them but we have ours the charge for credit is more than the actual loan which is rediculous, however i have asked an official body to investigate this company and its dealings. have any of you had any success with obtaining vehicle tax with a photcopied V5 our p/o will not accept this they said we could have stole the vehicle (yeah right). we get a letter every 5 days which incurrs 12.00 charge so i wrote to them and asked it to be stopped and a date when i'll catch up payments let's see what happens next week.
thank you for reading

[horsemad]

report to watchdog on bbc website

[Rob S]

Originally Posted by v_j_r

There's only one person who has effectivley brought these people to book so far and thats myself!,the trouble is you are all looking at the complicated legal scenarios but guess what it's the simplest of things that are often overlooked thats the killer?.:o

I've said many times and i'll say it agian i am waiting for a posting of success against Lbl ltd other than myself take a look in this thread all persons here have failed legally, guess what i'm still waiting!.

Regards.

V J R,

Are you prepared to share your knowledge with other people here?

how is V J R I think you should say what susess you say you had!
Look at their web page and how they work it says it all.

[v_j_r]

Originally Posted by DEATHLORD

how is V J R I think you should say what susess you say you had!
Look at their web page and how they work it says it all.

I suggest you go read all of the threads in this forum concerning this company and it's practises,all of the answers are there i should know i started the ball rolling in the first place.

Ohhhh btw take a look at there little known forum they use you aint seen nothing yet?.