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  1. Hi cococo - probably too late, sorry. - This man is not a bailiff - he's a recovery agent. He has no more rights or powers than you or I. If he hasn't taken the car already - Is it possible that you can get enough money together to stave him off for a while and get the account sent back to Logbook Loans? If he has taken the car, he should have given you a figure that you can pay to get the car back. If the car is worth more than this figure, then try and pay it. If not - Let it go. They will sell the car in 10 days at auction - and be charging you storage. So if you can/want to pay up, do it asap to minimise charges. After that, you probably need to look at reclaiming charges etc, but that's a fight for another day.
  2. That's a very serious allegation and one that I would not be happy to discuss in an open forum.
  3. The bill of sale is intrinsically linked to the loan agreement. Once the loan agreement is satisfied, the bill of sale becomes null and void. "Ownership" of the vehicle is yours throughout the loan period, until such time as a default notice is issued by Logbook Loans, at which time the bill of sale is invoked and they have the right to repossess the car.
  4. Indeed Logbook Loans have dropped their charges from £20 to £12 as in their words "that's what the OFT says we can charge". It's a huge misconception and they will not accept that this is not a "recommended" or "acceptable" charge, and that anything beyond what it actually costs them to process reminder letters/telephone calls is unacceptable and unlawful. Big Girls Blouse - Don't you dare stop posting!!!!
  5. The bills of sale are registered with the high court (although it is worth checking that YOURS has been) as they must be correctly sworn by a solicitor with an accompanying affidavit from the sales rep that signed you up for the loan.
  6. The problem is, that if you pay monthly, Logbook Loans expect it to be monthly in advance. Are you in a position to pay them anything at all? If you can pay them something, then they might accept a new payment proposal from you. Try it, there's nothing to lose. BUT you must ensure that you pay on time every time, or they will come looking for the car, as they have now issued you with a default notice, which is all they need to repossess the car.
  7. Hi Pat, Logbook Loans do take possession of the V5 - however this is purely a customer perception thing, as it gives them no legal title to the vehicle, and as you rightly say, there is nothing stopping the customer getting a replacement from DVLA They do not re-register themselves as registered keeper of the vehicle, they can't, as they are not actually keeping the vehicle. "Ownership" is claimed through the signing of a "bill of sale" which assigns the vehicle as security to Logbook Loans, to be claimed upon default. Their financial interest in the vehicle is also registered with HPI/Experian as a "lease"
  8. Logbook loans will allow you to sell the car provided that the purchaser makes a payment directly to them for their settlement figure. They will then relinquish the logbook. You say you only borrowed about a quarter of what the car is worth, but do remember that you will have incurred additional charges, and interest which will take the settlement figure up considerably.
  9. Hi cocococo - glad you have changed your username. Any developments?
  10. @WycombeMariner - Thanks, I'll take your comments on board, however Graydon's reports only confirm what I already knew about the companies concerned and could not verify from other sources. To anyone who is currently taking on Logbook Loans, take what you will from my posts, use what can be used in your particular case and leave the rest. @V_J_R Until this week, photographing customers has been done when other forms of photographic ID (passport, driving license etc) could not be provided. As of now, reps have been instructed to photograph ALL customers regardless of ID provided. This, is new. I will not get into a pi**ing contest here. Stop trying to draw me in to one.
  11. Another tid-bit - apparently Logbook Loans have allegedly very recently instructed all of their representatives to take photographs of their customers with the car (and have issued all reps with Polaroid cameras for this exact purpose) because of an upturn in the number of customers claiming that someone else must have taken out the loan. Does this suggest that the ID requirements up until now have been inadequate?
  12. Nobody is going to call you stupid here - We'll just help if we can. Do you still have a copy of the letter agreeing to the reduced payments starting on 29th March? Did you make the first payment yesterday? If you made the first payment as agreed, then the chances are that the letter was automated. Ring them and quote the payment information. Please - (if Your username is your real name) - PM a mod and ask for a change of user name before responding - Logbook Loans watch this forum.
  13. Without revealing too much at this stage, it appears that at least one member of this forum has possibly had their car taken unlawfully by Logbook Loans by virtue of an improperly executed agreement. Awaiting verification.
  14. calvi - they are neither. The reports come from Graydons, who assess credit worthiness by the financial strength of the company. The report is compiled from publically available information and is available to anyone via free trial and subscription.
  15. Oh for god's sake - I didn't say it was new information, just that it may be of interest to those with Logbook Loans issues to know a little more about what they're dealing with. I do that you see. If I have info, I post it for the benefit of those who may be able to use it. If you are under a non-disclosure agreement then keep your trap shut Otherwise post what info you do have that might actually help someone else and drop the "i know something you don't know" act - It's not big and it's not clever and it helps no-one.
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