log book loan help and advice needed plz!!!!!

[tatty0001]

hi there from a newbie.

im looking for some advice and hopefully some help on a lbl matter.

After reading alot of posts in the forum thought that u guys might be the ppl to help. now to the point.

i have a loan with logbook for 750 and im about 6 mnths in, thing is about 3 weeks ago i hit some black ice and wrote my car off completely, was in hospital but still managed to pay my payments bar 1. the thing is this, the other day i read thru my documents to see it says u must have valid fully comp ins, but my ins when taking the loan was tpft. also i keep getting letters at least 2 a month charging me 12 a shot, saying im overdue but to my calculations im not ive foned them about this but with no avail.

i have read in sum otha posts there is sum1 who will look at the contracts and bill of sale(or whatever it is called) and tell me if there valid.

 

as of yet i havent told them about the car.

 

any help on this matter would be gratefull

 

 

many thanks

[Lula]

Hi there, I am not an expert on this matter, but i will get this posted on the appropriate forum and an expert will be along to help you.

[tatty0001]

thanks alot.

[tomterm8]

I would pm sequenci. Have you checked whether they have registered a bill of sale?

[Guest ChloeJane]

Hi Tatty,

 

The Office of Fair Trading is seeking all complaints about Log Book Loans. There have been many complaints.

 

Phone the OFT and register the complaint and any relevant details.

 

The number is

• OFT telephone enquiries:
  08457 22 44 99

Even if you just register the Complaint it adds to their case and is important as well as finding out information here as they are notorious for being heavy handed and charging unwarranted fees.

 

All the best.

[tatty0001]

hi, i havent checked whether the bill of sale is registered as i dont know how. i will phone the oft tomorow when i get time. but what should i say?

 

who is sequenci? will he be able to help me better.

 

many thanks

[tomterm8]

hi, i havent checked whether the bill of sale is registered as i dont know how. i will phone the oft tomorow when i get time. but what should i say?

 

who is sequenci? will he be able to help me better.

 

many thanks

 

http://www.consumeractiongroup.co.uk/forum/member.php?u=21294

 

If you look to the right, under the box with the avatar (picture) you will find a box with contact info, and "send a private message".

 

Sequenci is an expert at bill of sales.

[tatty0001]

hi there, recently i lost my job due to having a crash in the company van so have had to go onto benefits as im having a hard time finding a job.

i currently have loan with lbl which i havent paid for about 2 weeks as i dont know wot to do. on fri i got a default notice and a final demand from them.

im unsure wot to do as the car i secured the loan on i crashed about 2 months ago but i only had 3rd party insurance and didnt tell them.

 

i just want to no wot i shud do and where do i stand with it all.

 

any help would be gratefully received.

[tatty0001]

any advice would be gr8.

[Hippy-chick]

I think you should contact them, in writing, not by phone, and explain your circumstances and make an offer that you can afford to pay. Some of the letters here might help: http://www.consumeractiongroup.co.uk/forum/general-debt/20758-creditors-dcas-letter-templates.html

 

Or call the National Debtline on 0800 808 4000 for some calm, impartial advice. They're very helpful and non-judgemental.

 

And don't panic - you can and will get this sorted out. You're doing the right thing by facing up to it straight away.

 

[tatty0001]

hi there just looking for some general info and help.

 

in november last year i crashed the car that i had a loan on with logbook loans, as it was my fault and i didnt have fully comp ins i recieved no payout.

When i phoned lbl to tell them about the crash i had no idea that in the bill of sale it says that u must have fully comp ins as part of the agreement.

up until this point i had no knowledge of this and told them this they told me they would get someone to phone me back later in the week.

after this i decided to look at the bill of sale and the contract and sure enough it says that i must have fully comp ins but also it says in the contract that the bill of sale forms part of the contract, am i rite in thinking that the contract and bill of sale are both invalid? when i took the loan out they got a copy of my ins which clearly states tpft.

was just hoping u could point me in the rite direction.

 

any help would be apreciated thanks..

[Guest grizzleguts]

Hi, the fully comp insurance is standard stuff with vehicle finance, if you crash the car, you are still liable for the outstanding finance, so you need to protect yourself, the only come back you may have, is that when you insured the vehicle, and gave the Insurance company the vehicle details, they should have informed you of this rule. as the searchs they do on a vehicle reg, is to make sure that it is not stolen, and if it has outstanding finance (HPI check).

The only chance you have is to get a specialist solicitor involved, and try to reclaim the monies owed to the finance company, the charge would have to be financial and personal distress, due to the companies negligance, in failing to train its staff adequately, or have the adequate checks in place.

You would have a slim chance of winning, but slim is better than none.

You would have to convince a judge, that you either received the terms & conditions after signing.

The Bill of sale, is a contents of the sale details, it does not form part of the contract, If for example you make an offer on a house, a bill of sale is drawn up, it does not become legaly binding until both parties (in a finance agreement only yourself needs to sign), sign the agreement.

You may have great difficulty convincing a judge if you received a copy of the terms & conditions, before you signed.

Best of luck.

[Ell-enn]

Hi there Tatty, am I right in thinking by "lbl" you mean you have a loan on the car by Log Book Loans and not that the car was bought on finance? Just need to clarify before we go along the wrong track with advice.

 

Kind Regards

 

Ell-enn

[tatty0001]

yeh the loan is with logbook loans and not financed.

[Ell-enn]

OK I'll ask for someone with lbl knowlege to respond.

[tatty0001]

thanks.

[tomterm8]

Is it possible to post the actual agreement, minus your name and any personal details?

 

I do not believe, given what you've said, that the basic contract (i.e. the consumer credit agreement) is invalid. In practice, the Bill of sale is PROBABLY invalid, since LBL don't register them (or even use the correct format).

 

So, you remain liable for the credit agreement, and should continue paying as normal.

 

Technically, not having insurance is a breach of contract, HOWEVER, in practice if they were aware (as they must have been ) of your type of insurance, then it is unlikely the court would look favourably on such a claim.

 

I disagree with what grizleguts appears to be saying. in order to be effective in these circumstances, a bill of sale needs to be incorporated into the consumer credit agreement. without such incorporation, it would be unenforceable under the consumeer credit act 1974.

[tatty0001]

i dont have a scanner im afraid just a latop, but i could make a copy n blank all the stuff owt n send if ppl cud help me with it.

 

c the thing that got me thinking was - b4 i phoned them to tell them of the accident i was unaware of the clause in the bill of sale, when i foned them they were the 1s who brought my attetion to. and after reading the bill of sale it says that i should have fully comp ins as part of it, which i didnt have when i took the loan i had tpft, and the guy tht came n met me in the train station car park didnt notify me nor did he refuse me the loan which he shud of done.

also in the contract it states that the bill of sal forms part of the contract which would mean if its there fault the bill of sale is invalid shudnt the contract be aswell.

thats all i thought and the fact they are asking for nearly a grand on a 500 loan of which ive paid 490.

[tatty0001]

any help wud b gr8

 

thanks