Hi Last year I rather stupidly took out a log book loan from these guys whilst I was going through a rough patch. I now unfortunately am in the situation of being on benefits hopefully only short term. I have emailed them several times asking for advice on this situation to no avail. During this period my car broke down and was towed to the audi garage for repairs. The bill at present is 2500 which on jsa I cant afford with a further 30 days @10 per day storage charges. The repo men came round today no court order just to repossess I told them the situation with the car and the garage is holding it pending payment. When I signed for the loan the agent came round and as stated on other threads no witness was thyere to sign bar the agent so common thread here with the BoS. Really where do I stand with regards to the repossession ? are the garage allowed to release the car without my consent. To give you some idea its an audi A6 57 plate loan for 3000, the fault causing the breakdown was a design flaw but not acknowledged fought to get audi uk to reduce original bill of 4500 to 2500 as a gesture of goodwill (succeeded) Stupid move originally but cant change the past any advice please. Thanks

Hi new to the forum, joining for the reason I post below Have just received a letter from log book loans concerning a second hand car i bought 3 months ago. "We understand that you purchased the vehicle without knowledge of our interest and as such it is likely that you will be classified by the Hire Purchase Act 1964 as an ';innocent purchaser' and will have obtained good title to the vehicle. In order to confirm that this is the case we would ask that you please complete and return the attached questionnaire to the address given above. Once the questionnaire is returned, we will be able to confirm whether we intend to pursue the matter further. If we are satisfied that you are in fact an innocent purchaser, then we will write to you confirming that we have released our interest in the vehicle." Help!!! I've done a bit of research over the weekend but no one seems to mention this kind of approach before. The questionnaire covers when did I purchase it, who from, price paid and do i have a receipt, are you a trader, do you still have it, if not where is it, any other information that may be useful. I bought it off an ad in gumtree, from a bit of a backstreet trader to be honest, and it looks like my stupidity has come back to haunt me. I'm just confused as to why they are taking this approach rather than just taking the car, as seems to happen so often in these threads? I paid cash have a copy of the advert and a handwritten receipt. The V5 was intact and I have my new copy now. I eventually rang them and the woman said they dont want reclaim the car(yeah right!) but not to sell it, just return the questionnaire. Help, totally confused and gutted.

Recently, I asked MM for a settlement figure, which was quoted at £907. I need this settled ASAP as I can no longer afford the repayments of £200 per month. However, I was not able to settle at this time. After some rejigging of household bills, I proposed to repay the £900 by way of 4 payments of £200 and a final payment of £107. This would fully repay the debt and release security on my car. I offered this as I have already paid un excess of the amount borrowed. The monthly payment was due on the 1st, but due to major household expense, and a change of pay date, I had to delay this to the 23rd. When I spoke to an agent in MM, he refused my proposal and suggested that I increase the monthly amount. The exising amount of £200 per month is unaffordable, and I can only stretch this by 'putting other creditors aside' for a short period. Any advice would be very helpful. The loan was taken out in August 2011 for £1200, to be repaid at £200 pm over 18 months. You can imagine the total amount that would repaid and has been repaid already. When I questioned them about whether the BOS had been registered, they quoted a registration number and date. I am concerned they will try and take the car due to the amount of scare stories I have heard on here.

Hi, I am brand new to this forum. I have had recent experience with Logbook Loans. Approximately a year ago I took out a loan for £1000, and despite my best efforts to stay within the terms and conditions found it impossible to avoid their charges. After a few months I had such serious concerns about their conduct I arranged to borrow some money from a family member to settle the loan. This proved impossible to do however, as the staff at Logbook would not do a review of the charges until after I had paid them, and I just didn't have the confidence they would be reviewed fairly. I continued to pay the loan, however this month I had listened to enough from Logbook and asked to speak to a manager. To my surprise they put me through to one. I asked him to listen to the last 6 conversations and tell me his thoughts. My point being that the staff manipulate situations, charge unfairly and most importantly the notes left are not a true testimony to the conversation, therefore any charge review cannot be done fairly. After listening to the calls, he largely agreed with my points, and offered to wipe out all charges on my account, over £700, I then asked him to consider allowing me to settle my loan at the figure it would have been when I requested, as though I had not been obstructed in my initial attempt. He agreed to this also. I have been told by Logbook they keep all call recordings until the loan is paid off. I really think a Subject Access Request is worthy of consideration as they will include all call recordings in this, as well as all notes made by staff, and internal e-mails. It is long-winded but only then can you present a complete picture of the way you have been treated. I think in many cases they will have difficulty defending their actions.

Last night (27th September) I signed the bill of sale for easy log book loans / christian gachet for a loan, after reading these forums I realise I made a huge mistake and i would like to cancel the agreement. Can anyone PLEASE help me through this process so I do it correctly and get my v5 back and make sure they don't go through with the loan and reposses my car in a few months for no reason. I am extremel worried Please help and soon

Hi. Long story: I took out a loan away back in May, when I was slightly screwed financially. I now completely regret it, to say the least - and have been trying to get funds together to settle it. Asked in Nov 2010 for settlement figure. It came back as £2,019. Two months later, my new settlement figure is 1934. This is just shocking : only 67 pounds difference! Here's my email to LBL. I'll let you know how I get on: luckily, I can afford to settle it, so it'll sort itself out: but I don't like being held to ransom by a bunch of loansharks. Any advice / help is much appreciated at this stage. ---------------------- Dear Sir, With regard to my loan with you, taken out in Edinburgh, reference : XXXXX I find it very surprising that my calculation, despite payments of 618.00, has resulted in a reduction of my redemption amount by only the amount of £76.92. ( see below). I refer to my previous request of 12/11/2010 for an early settlement figure, which was given as £2,019.60. See the attached spreadsheet for a calculation of what I believe to be the true settlement figure. This would appear to be completely incorrect, in terms of my understanding of the loan, and also in terms of what has been said in the loan documentation. I understood that the early redemption would the balance plus one months interest (10%). Therefore, I require:- * A full statement of account, showing all payments made. * A full calculation of my early redemption amount - NOT just a leaflet showing the calculation. I require this within 7 working days. As I'm sure you are aware, I'm entitled to a full statement of account under the terms of Consumer Credit Act. I am very unhappy, and I am considering reporting you to the Office of Fair Trading. I believe that the extra interest (in the amount of 541.08 over two months to be an unfair penalty charge, and I am unwilling to pay this - it is clearly incorrect). In the meantime, I've today made a payment of £1200.00 to my account, pending resolution of this issue. Since this loan originated in Edinburgh, I've copied in Edinburgh City Council Trading Standards for their information. If I do not receive a satisfactory response, I'll have no hesitation in making a formal complaint to you. Yours Sincerely, XXXX

Hi Guys, I hope you can help me, I took out a logbook loan in Sept 2009 in the event I needed cashflow, which it later turned out I did not, as I later got the pay I had been waiting for. I tried to cancel the agreement the next day before their cheque had even cleared in my account, accepting that I would probably incur £100 or so in fees. (They had been advised that it may be very short term and they said it was straight forward and not a problem) Upon trying to settle I was advised that if I settled early I would be liable for the entire outstanding amount including the interest that would have been incurred, and that a 'cooling off period' did not apply. I made substantial payments, and upon being a few days late on one payment in Feb 2010, I received a letter stating I had incurred hundreds of pounds in charges. I contacted the LBL office, who informed me that as my very first payment was a couple of days late, every subsequent payment had been late, and therefore incurred charges (this was the first time they had written to me), and upon being late with a payment in Feb they had written to me. LBL stated it had been a system oversight, and that now my account was ahead in terms of payments, I should not give it a second thought, at this time I asked them for a statement, and a breakdown of payments, as I regularly paid off bigger instalments, over and above that required. This never came, I also requested this again by recorded mail, again this never came. I neverthe less continued to make payments until Sept 2009, and obtained the managers mobile number and asked for a settlement figure, he gave me some sky high figure amounting to several thousand pounds, I asked him to break down that figure, as according to even LBL's appauling interest rates it could not be that much. I got a text reply stating I had incurred charges througout the preceding year. I then argued this and requested a breakdown of all payments and charges etc. I received no reply. I have called their office and also left a mobile message requesting a payment breakdown, as I would have had the final payment paid off by now. Again I have received no reply. I made one last monthly payment in October then following LBL's inability to communicate I cancelled my standing order as it was now feeling very much like a loan shark. Sure enough, within a couple of weeks LBL got in touch. First a call on a mobile wanting to know where I and the vehicle was, and then a letter. Saying as I had failed to make payment in accordance with their agreement, and had previously been notified of a default in Feb (which LBL had told me was admin error) that my vehicle would be repossesed without further reference to myself. I am more than happy to meet with any of their bailiffs etc etc, I took the credit due to the position I was in, and even though I tried to be a good customer, they design it so you simply cannot. If you pay the full loan, hundreds in charges and they get your car, then surely that is the best outcome for LBL, and the tactics they use would surely support this. I would appreciate any advice as to how to proceed next. I am happy to appoint a solicitor or take them to court myself. I would like some advice as to any illegalities regarding this ancient law they use. Or how to find out if my bill of sale was correctly registered. I will see this through to conclusion as these people are targeting the most vulnerable in society. If anybody can point me in the right direction in terms of law, contacts or similar case studies then I would be most grateful. I simply want to settle this for the benefit of all concerned, but we all know what the best outcome for LBL is. I am happy to launch court proceeding straight away if somebody could advise via PM or forum. Happy Xmas to all Caggers!!