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boocoo

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About boocoo

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  1. Very true, but they have signed up along with most of the big boys to the code of practise. Ive seen many mobile money and LBL loans against a car in the last few years (I work in used cars sales) and have yet to deal in one that hasnt been registered and showing up on HPI. Anyway as stated this car would be lucky to get £150 at auction, if that, its almost scrap really so thoughts of shady characters around the neighbourhood intend on getting the car are a bit far fetched. If they want it they will turn up bold as brass on your door step bill of sale in hand and not treat it like a CIA s
  2. First thing I would say (and I know this doesn’t go down well with everyone) is no matter who the company, no matter if the company gave an interest free loan or charged a million percent, the fact is someone lent money against this car and the borrower feels they can walk away, owing money leaving the new owner and the lender out of pocket. The guilt party here is the seller and why oh why do people insist on buying cars without doing hpi searches. It’s cheap, easy and protects you! We all know what one is so ignorance is no excuse. That said, the car is worthless (no offence) from a tr
  3. Hi The loans was taken out just under 2 years ago now and over a 2 year period. It was for £1000 and so far has paid back around £1800, but is still well below what they want if he had kept up the payments never mind the added charges. We haven’t done the bill of sale route as we checked early on that is was registered within 3 days of being signed (so within the week). As I say I find it a bit depressing all the nonstop talk about the bill of sale, as it’s a standard form they use and no one appears to have broken it when correctly executed (my interpretation of that means signed
  4. Hi I have a friend who has been struggling with logbook loans for some time now and is JUST about fending of repossession of the car on a weekly basis. My question is does anyone know what is happening with their license and the OFTs review of it? I noticed about a year ago everyone was celebrating their license being revoked, yet they are still operational and when you look on the OFT website they aren’t up for their 10 year review for some time yet. What’s been happening and what will happen next? While there seems some good and well meaning advice on here I really don’t wa
  5. Dont worry about bully boy tactics. They cant have have their own recovery department, they contract that out ( as is the case with all loan comapanies like these, 3rd party debt recovery agencies tender for buiness based on collection rates and contracts are always short term), so anyone who turns up is 3rd party and only after the car, nothing else. Even if you were able or wanting to pay anything they wouldnt take it from you, just tell you to contact LBL head office as they arent paid to recover money, or legally able to as a 3rd party, only collect the vehicle. Any attempt by them re
  6. Firstly the loan HAS to be signed at a place with a consumer credit license, all loans are trhe same, thats whay LBL work with the money shop, cah con, cash gen, the cheque centre etc, ie they have one so its legal. They must advertise the product and get commssion for every loan they genetate. If you want to sign off one of these places they will insist you write in with a letter and request this so they have a clear audit trail you knew this to show the OFT if contested. If you can prove it wasnt signed in store, or more to the point they cant prove it was, then it isnt legally binding. Fact
  7. CCTV If you did a HPI check and it was clear then LBL cant take your car, they have a duty to make sure all their loans are put on the HPI list. If they dont So 1) they didnt register HPI and 2) they cant have seen the car. LBL are rip off merchants and cause nothing but misery but theres one thing tou can say and thats they cover themselves, and both of these things stagers me in a company their size who know all the tricks, but is good news for you
  8. cctv. I dont get it? If they took a logbook loan out on the car and you didnt do an official hpi check (not one of these 3rd rate cheapos)then thats tough and you should have, ordering a new duplicate logbook once its been handed over to LBL isnt hard and it doesnt make the loan void. Thats the whole point of the HPI What confuses me is how it can valid if you were the owner?!?! I know logbook loans do an ownership check with the DVLA How could this have happened. Either youre missing part of the story out and they saw the car at the time of signing, or you have nothing to answ
  9. Does anyone know where LBL with their license? I know its "determinded" but I cant seem to get an answer on what next. Personally I think that is what will get them. Their license however, now that MUST be worrying them, so whats next and whats the chances?
  10. Ordering a new V5 is about £25 and will do the job. It just means the one LBL hold is out of date, but as they aren’t the owner then the DVLA wont inform them. LBL will want to know if you write the car off and get the settlement from the insurers as the asset the loan is secured on has now been destroyed. They make you sign a form to this effect allowing them to directly contact your insurance company and probably took a copy of your policy at the time to show your insurers along with the CCA and bill of sale to ensure they get paid (legal by the way) That said if you’re happy to carry
  11. It means is a phone call from them saying why have you removed it, and if your having issues anyway I dont suppose that matters
  12. LBL have a policy of fitting trackers on all loans over £5k. They dont fit them on loans less than this value due to the cost. Its one of the few things they are very open on and tell you if its being attached. Plus its easy to spot them. They are the size of a vhs cassette, heavy and work on magnets, ie somewhere under the bonnet. Remember they are fixed by the reps at the time of the loan, its not as if the reps ask to have the car in a garage overnight, they fix it there and then with the customer present, so if you are unsure if ones fitted it will take you all of a minute to mind out
  13. apple - any views on my last unanswered thread that this was taken off ?(think this went on a tangent so has been removed up till my last question, ie timescales and process) http://www.consumeractiongroup.co.uk/forum/log-book-loans-bills/229351-log-book-loans-licence.html
  14. On another subject, we all know LBL’s licence is “determined to be revoked” status. I appreciate that existing customers won’t have their debts written off and will still be legally liable for them unless they can prove otherwise, but it will at least stop future people falling in to this trap. My question is does anyone know the route now? What’s the next stage and how long does it take? I know that they still operate and are appealing the decision as is their right, but what are their chances of success? They very a big company (I’m told 500 employees?, no doubt most of them working in
  15. A whole host of great answers, that hopefully will change J Fix its mind. I have a friend who is the same situation with LBL. He lost his job, struggling to pay and the company are placing ridiculous charges on the account that means it’s now spiraling out of control and it will no doubt end in repossession. While they did appear to show a degree of sympathy and accept reduced payments, their patience wore thin quickly and its now not looking good. None of this was explained in full at the time of signing. I have another friend who knows him loosely and takes the view, you borrowed the
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