Hi all

i bought a car from a well known family friend in may 2005 .

Received a letter from loans 2 go ( logbook loans) a week and half ago saying that there was finance secured on my car and to call them .

Rang them asked what was owed

had payments been missed ect

they would not tell me under the data protection act .

Regardless i was fuming so got in touch with family friend bought car off

he explained he enquired in january this year about a £1000 loan

they said he could not get as had ccjs against him so he left shop .

Then i received letter saying finance was taken end of march which he claims knows nothing about .

The company provided me with a bos but not actual agreement which claims he took £3000 finance .

I rang the shop stating this is not ies signature so did the friend

they wont provide origional agreement to either of us

i asked how he was paid loan

they wont answer to both of us

or how he was going to pay this loan back he had taken, as no direct debits set against his account ( proved this )

i have the original log book

i asked if i could go to shop to look at the log book they claim to have as evidence

they banged phone down also to view cctv of when my.

Friend was in shop signing this agreement

they just kept saying area manager dealing with

so long story short we went to police filled fraud case .

Since then balifts have been at my door

i have hidden car

but they saying civil matter

they will find n take

i said not civil as police now involved ?

What do i do now as they following me

and still sitting outside my home at different times?

Help

I will try and find someone who can help, but they might not be able to look in until later on in the day.

I have also moved your thread to the correct forum. You need do nothing, this is purely an administrative move and you will still be able to find your thread via User Control Panel (User CP) - top right of the screen

It might be worth you having a read round other threads in this section as this appears to be a regular issue.

Thankyou x

All the info and useful links are here, keep the car hidden whilst you try to resolve

Do you have a problem with a Logbook Loan?

With Citizens advice estimating that over 60,000 of these loans were taken out in 2014 alone

an increasing number are causing severe difficulty and distress for borrowers.

In this guide we explain what a logbook loan is, and how they work. What you can do if you have a repayment problem,and what you can do if you have unknowingly bought a car with a logbook loan attached.

Three golden rules for Logbbok Loans

1)No matter how desperate you are to purchase a car, or raise cash, NEVER consider this type of Finance

These loans are designed purely for the benefit of the lenders. With APRs of 400+%, little consumer protection, and aggressive debt collectionicon practices

they should be avoided at all costs.

2)When purchasing a used car from whatever source,private or trade, ALWAYS do a FULL GENUINE HPI CHECK

costing around £20, these come with a guarantee against any form of existing finance, including lbl's

3)If you have any problem with a Logbook Loan, your first step is ALWAYS to check that the Bill Of Sale has been registered with the High Court. You can do this here-

to check if registered

Contact Details

QB Enforcement Section

Room E15-17

Royal Courts of Justice

Strand

London

WC2A 2LL

DX 44450 Strand

Telephone: 020 7947 7772

Fax: 0870 324 0024

Email: [email protected].g ov.uk (No Spaces)

You may read on the internet that your BOSicon will be void if witnessed by an employee of your lbl lender

Since the OFT( as was) lost the attestation case on appeal by 2 to1 this is NOT the case

full details here http://www.bailii.org/cgi-bin/markup...method=boolean

Logbook loans are a form of credit dating back to the Victorian era, derived from the 1878/1882 Bills Of Sale Acts, with terms and conditions to match in many cases.

Problems are manyfold from extortionate charges by lenders for calling a customer, to repossessions where owners have been left at the side of a busy road, unable to get to work, and even sexual harassment via debt collection.

Poor practices abound, unsurprising when there is no incentive for lenders to ensure their customers understand the terms or can afford the repayments.

In fact the very nature of this form of finance could be seen to encourage bad behaviour – why carry out affordability checks if a single missed payments means you get to keep the money and takeaway the car?

How does it work?

When you take out a logbook loan you will be asked to hand over your vehicle’s logbook or vehicle registration document, which proves you are the registered keeper of the vehicle.

You’ll also have to sign a credit agreement and a form called a ‘bill of sale’. This means the lender now owns your vehicle on a temporary basis but you are still able to use it so long as you meet all loan repayments. These documents are recognised by law in England, Wales and Northern Ireland but are not used in Scotland.

The law only recognises a bill of sale if the lender registers it with the High Court. If it’s not registered, the lender must get a court’s approval to repossess your vehicle. You should check if the bill of sale is registered.

What you should do if you have a repayment problem

1) check your Bill Of Sale is registered as above

2) the lender must send you a default notice which complies with the requirements of s87(1)cca1974

allowing you fourteen clear days to remedy any default (which can be after one missed payment)

You should , if your lender will not negotiate a reduced payment, straight away on receipt of the default notice look to take out a time order. This gains you the protection of the court, which can look into the overall loan--

https://www.nationaldebtline.org/EW/...t/Default.aspx

What you can do if you have purchased a car with an existing logbook loan

If you receive a letter threatening to repossess the car or an enforcement officer turns up at your home to take it, you may not be able to stop them.

ask to see proof of their identity and their authorisation to take the car

ask to see the bill of sale document – they have to show you this if you ask for it

if you feel threatened by how an enforcement officer is behaving, call the police

ask for written confirmation of what has been taken

get the contact details for the logbook loan company.

If the lender has taken your car, you can try to get it back and reclaim your money from the seller. However, this can be a costly and time-consuming process and is not guaranteed to succeed.

If you want to get the car back, you could pay off the outstanding loan and then take the person who sold you the car to court, to try to get your money back.

If you just want to get your money back, you can take the person who sold you the car to court.

Always get independent advice before you decide to take someone to court.

Some lenders are members of the consumer crediticon Trade Association (CCTA), which has a code of practice covering logbook loans. The code of practice says the lender must register the logbook loan on a register, so it will show up when you carry out a history check on the car. It also says they must obey certain rules when they repossess a car.

If you are unhappy with the way a logbook loan lender or its enforcement officers have behaved, find out whether they are a member. If so, you can complain directly to the CCTA. However this code is regularly ignored

http://www.ccta.co.uk/content/our-code.aspx

Finally both the Financial Conduct Authority and the Law Commission are investigating Logbook Lending

and the associated legislation, full details here--

http://www.fca.org.uk/firms/firm-typ.../logbook-loans

http://lawcommission.justice.gov.uk/...ls-of-sale.htm

Your first action is to check with the courts as above that the BOS is registered

If fraud is involved contact the FCA immediately

I have checked with the court and the bos is correct i will contact fca . Has anyone ever not gave them the v5 for vehicle and they only having a photo copy of it ?? Is this legal??

why not CCA loans2go?

and I doubt the guys wanting the car are bailiffs either.

just no powers repo guys

dx

Yes cca request under s77 and SAR to Loans 2 go(by your friend)

As DX says the repo guys will be self employed on commission no powers

certainly not bailiffs

Hi just an update

it was found loans 2 go dropped the case lack of evidence!

Hmm the employee vanished

the branch has been shut down

so be very careful if you receive a letter saying someone has a logbook loan against your car

because they might not have even with a forged bos and credit agreement do your homework !

Luckly they never got my car but could have if i didnt hide it .

How many more innocent people are they doing this too false credit agreements bos

and no one has even took a loan yet they snaffle your car!

Unreal !

It may be worth doing any checks you can to see if finance is still registered against the car. Also follow up with the FCA, as it sounds like something dodgy has happened, which needs investigation.