That's great caprikid - if anyone who writes to the OFT uses the License number reference, it will be applied to the same case and therefore strengthen the argument. Thanks for that

caprikid:- Did he give you a reference number at all? Contact details for the OFT: Consumer Direct:- 08454 04 05 06. OFT Switchboard:- 020 7211 8000. Email:- [email protected] Snail Mail:- Enquiries Unit Office of Fair Trading Fleetbank House 2-6 Salisbury Square London, EC4Y 8JX.

So you were being charged even though you had made an agreement to pay off the arrears? You should not have been charged during the payment plan if you were paying what had been agreed on time. Go for the full amount.

I don't know if anyone has tried this, but I would imagine so, as they have changed the charges in response to the OFT's dictate that they would investigate anyone charging over this. Write to Paul Foster at Logbook Loans, Bridge Studios, 34a Deodar Road, Putney, London SW15 2NN. Copy your letter to Mr B Pilgrim (MD)

see my post here for answers to some of your questions http://www.consumeractiongroup.co.uk/forum/vehicle-retailers-manufacturers/47369-log-book-loans-can-4.html

***Disclaimer*** I am not a lawyer. This is not legal advice. This post applies to England and Wales only.*** Ok, here goes. I've read all of the threads relating to Logbook Loans and with the permission of the moderators would like to address some of the points made with a view to clearing up misunderstandings. Logbook Loans With the exception of 3 or 4 small franchises, Logbook Loans is a trading name of Nine Regions Ltd (company number 04286387) which changed its name from Log Book Loans Nine Regions Ltd in 2001. Other companies listing the same registered office address are: Nine Regions 2 Ltd (company number 04152421), Logbook Loans Ltd (company number 03636230), Logbook Loans GB Ltd (Dormant), Log Book Loans International Franchising Ltd (Dissolved), Log Book Loans (Northern) Ltd (Dissolved) and Log Book Loans (UK) Regions Ltd (company number 04987334) To all intents and purposes, the only one you need be interested in is Nine Regions Ltd as this is the company which grants the loan and executes the Bill of Sale. The Bill of Sale: This document assigns ownership of the car to Logbook Loans by way of security for the payment of sums due under the consumer credit agreement. It forms part of the consumer credit agreement to which it relates. The lender can seize the vehicle under the following circumstances. So, providing that the following conditions have been met, no court order or CCJ is necessary for them to seize the vehicle. 1) The customer is fully aware of the implications of the document and have been provided with a copy. (Did the rep explain fully to you what you were signing?, have you signed a "customer statement" stating that you understand the conditions?, were you provided with "pre-contract information?) 2) The Bill of Sale and an accompanying affidavit have been signed by the customer and the representative and sworn by a solicitor. 3) The Bill of Sale has been registered with the Actions Dept at the Royal Courts of Justice in London within 7 clear days of it's execution, or, in the case of late registration, been granted an order extending the date for registration. 4) You have been issued with a default notice because of either missed payments or failure to maintain the vehicle or insurance payments. 5) You have attempted to resell the vehicle or dispose of it in any other manner or have otherwise breached the conditions of the Bill of Sale. Point 1 comes down to your word against theirs, but if enough people swear that they did not know what they were signing, it will create at least doubt. Point 2 and 3 can be verified by an SAR to the Actions Department at the Royal Courts of Justice, it will cost £10 and should yield a copy of the bill of sale as sworn and registered. If there is no Bill of Sale at the court, then it is not valid under the Bills of Sale act. Points 4 and 5 are self explanatory. ----------------------------------------------------------------------- APR Customers are (allegedly) frequently told - "Don't worry about the APR, it doesn't really mean anything, the interest rate is 7% a month" Charges Logbook Loans recently changed their charges for letters and phone calls to £12 per item. However, be aware that phone calls are charged for whether or not they actually manage to speak to you. Each "attempt" is charged. They will negotiate on charges if you "top-up" or settle your loan. Customers who frequently rack up "late payment" charges are (allegedly) considered better customers than those who pay on time as they are (allegedly) more profitable. Letters are produced automatically by the "system" and are only folded, enveloped and posted by hand. There is no "manual intervention" in deciding who should get an arrears letter. Affordability Logbook Loans are (allegedly) likely to offer you a "top-up" loan even if you are in arrears or have been threatened with reposession because of the above point. (allegedly) No evidence of your ability to afford a higher weekly payment is taken. There is a £195 "commitment fee" levied on each loan, regardless of value (were you told about this?) and one month's interest (7%) is charged on early settlement. Cancellation rights - The Borrower has the right to cancel the loan within 5 days, but ONLY if signed away from trade premises. If you go to an agent premises to sign up, you are signing away your right to cancel if you change your mind. Trackers Logbook Loans DO fit trackers to vehicles securing loans over the value of £5000. They will fit 2 boxes to the car, one is a real tracker (which will be well hidden) and the other is a decoy (which will be more obvious so if the borrower wants to remove it, they will in all probability leave the real one in place) HPI A marker will be placed on the HPI register, which will record the loan as a "lease". Logbook Loans will be informed if you attempt to sell or part-exchange your vehicle if the buyer carries out an HPI check. They will also be informed of the identity of the person/company carrying out the check. Can I sell the car? The only way you can sell the car and keep them off your back is to ask for a settlement figure and settle the loan from the proceeds. Otherwise they will maintain an interest in the vehicle and will attempt to recover the car from the new owner Logbook (V5) Holding the logbook (V5) in itself gives Logbook Loans no legal title to the vehicle. The security is in the Bill of Sale document alone. Taking the Logbook is a token of perception on the part of the customer. No contact with DVLA is made, no changes to the registered keeper details are made as you remain the registered keeper. There is no way Logbook Loans would be informed if you applied for a replacement logbook. What happens if they take my car? They will charge you between £500 and £900 for "repossession charges", depending on how easily the repo agents find your car. They will also store the car for 10 days to give you the opportunity to find the money to get it back (charging you £12 per day storage) before selling the car at auction. The charges will be added to the amount you owe, then the amount realised from the sale will be deducted and you will either get a refund for any excess or a bill for the shortfall. Watchdog BBC researchers have been sniffing around and I expect they will not let it drop, so take heart, they are looking into it. One-Third Rule As this is not a hire-purchase agreement, but rather a personal loan secured on the vehicle by the Bill of Sale, the One-Third rule does not apply. Forget Hire-Purchase, think Pawnbroking. This Forum Yes, they do monitor this forum and have been able to identify certain posters from information given in posts. Be careful. To save a marathon post, I'll leave it at that for now, any questions?

Hi folks, I'm waiting for permission from a mod to post properly, but may be in a position to assist some of you. Won't say any more until I receive a response to my PM.