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There is quite a big difference to be brutally honest.

Log book loans operate under a completely different set of rules- they use what can only be described as a dickensian law- its so old it used to be used for loans against horse and carts. There is no consumer protection at all.

Rather than a short term unsecured loan, its a chattel mortgage- or a mortgage against a moveable object. The only real angle for a complaint, as I understand it, is if the bill of sale wasnt registered in time with the court, but even then you're on thin ice.

It does seem that changes are slowly being made in this area, but I have yet to see a good result. Someone always has to be the first though, I suppose!

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http://www.consumeractiongroup.co.uk/forum/showthread.php?451921-Proposed-Protections-for-Logbook-Loans

 

 

There was a Consultation on Proposed Protections for those with LBLs, I will try and see if there are any updates.

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Dealing with Customer Service Departments? - read the CAG Guide first

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

BCOBS

1: How can BCOBS protect you from your Banks unfair treatment

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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https://www.citizensadvice.org.uk/about-us/campaigns/current_campaigns/recent-campaigns/logbook-loans-campaign/

 

 

If you have a look at the bottom of this fact sheet from the Citizens Advice, I wonder if you would be able to argue any of the points below ?

 

 

Key statistics

 

From our recent policy evidence briefing, of the consumers who have taken out logbook loans:

•28 per cent were not treated fairly or appropriately by the lender.

•17 per cent had not had the terms of the loans clearly explained in a way they understood.

•17 per cent had their car taken away despite not being the original borrower.

•14 per cent experienced harsh debt collection practices.

•9 per cent had a lack of proper checks to make sure the borrower could repay.

•8 per cent were hit with high charges for defaulting on their loan.

 

Have we helped you ...?         Please Donate button to the Consumer Action Group

Uploading documents to CAG ** Instructions **

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

BCOBS

1: How can BCOBS protect you from your Banks unfair treatment

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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