Logbook Loans Desperate Situations!!

[sweetnsexyenglish]

I need some advice as I have been reading the threads on logbook loans, and the more I read the sicker I feel:o . Against better judgement and facing desperation I obtained a loan from LBL. I must be a glutton for punishment but basically took a loan of £500 (it came to more as they added the first 4 weeks payment and did the loan for that amount however he claimed at least I didn't have to pay for the 1st 4 weeks)as I only needed it for a short period, the agent Andy who I believe is the owners son, told me whether I kept the loan a week or 4 weeks the cost would still be the same to repay the loan for such a short period which he said was £100. 4 weeks later on calling to repay the loan was devastated when they required little over £800 to settle early. I paid the amount and made various calls to see if that was legal.

 

I was advised various companies pay the interest before paying the loan and that may have made it higher. A domino effect took place where because I was now lesser off needed another loan little down the line because of being short clearing the first as I had only planned for the £100 on top of the loan. Hence I took another loan at £68.02 a week, being a mature student with 3 kids and getting my uni money every so many months began to take a toll on my finances and when I needed to pay my bills meant I and my kids where struggling so the loan was a stop gap I really didn't want to take but had no choice with no where else to turn.

 

The loan was for £1500 plus the extra they added on for the first 4 weeks, Andy the agent gave me the wrong date to start paying the loan and the wrong amount hence letters but once I got that sorted was fine. Again hardship in the home the price of everything rising and bills from every direction asked for a £500 loan only to be told they no longer do them and the smallest amount you can take is £600 an something which again came combined with the added on first 4 weeks. It was only then I realised they made sure to do me a loan that combined with the interest covered the value of the car to ensure they own the car. i.e the car was £6000.

 

I was gutted and decided then and there to clear it as soon as I could. However my daughter stole my bank card and took money out my account putting me in debt all round, the bank refused to do anything unless I pressed charges, the police were called but felt because she seemed sorry after they told her all the trouble she'd be in and how it would stick to her record and with my daughter being only 14 I decided to follow their advice and leave her with the talking too. But it hit me hard!!

 

DD's were UNPAID, house insurance got cancelled as it bounced twice and car insurance bounced and one other bounce slapped with £90 bank charges, bank ate my money fell behind with LBL and all bills grew, new house insurance now £10 a mth more expensive than old cover but old cover no longer available. And now I am struggling when the uni money came in I was paying out over a £1000 on bills and debts and to LBL plus £1000 for nursery fees and left with barely nothing.

 

LBL then began to sweat me, calls several times a week even though I called them and spoke with them, at one point I had three in one week I snapped in ADSA feeling harassed, I didn't want to p*$$ them off because all I had to loose but they were driving me to distraction. On several occasions they seem to have my money sitting in a holding container with no owner, as the book registered to my account mysteriously is unregistered and it gave them more of an excuse to harass me. My life was already in turmoil after reading the threads so I persevere with payments and kissing LBL a$$ even though I was feeling under pressure.

 

Now its not like I am not paying or bringing down the arrears and they can see that I am but they are not interested in my personal affairs or why I am struggling in order to help me resolve the issues. Now my life feels like its heading down hill, the price of everything has gone up and I am feeling like Scrooge with my family being a single mother with three kids and not being able to get CSA to get maintenance off my ex husband and because kids don't know the cost of anything and act like money grows on trees. Meanwhile I consider selling the car an be done with it, only problem is I have a hyperactive thyroid and need the car as distances is a no no as when I am very ill walking is very difficult and I become warn out and have already had a number of falls.

 

Now I was issued with a default notice an 2 maybe 3 weeks to rectify but as I have been busy clearing the larger (£287.50) loan to stop it mounting the smaller (£187.38 in arrears )hasn't been paid and the end date is the 22nd April but I don't get money until the 25th April. I was going to call them and ask if I could get an early settlement figure and leave myself penniless and clear the smaller loan as the last time I checked it was £800 for the early settlement and I have paid some off since then, so I am hoping its nearer the £600 mark that would just leave me the larger loan to pay.

 

I was advised by my sister to file for bankruptcy as the more stress makes my health worse and after being charged in order to pay £200 by credit card then paying a further £100 on the smaller, being phoned and bullied for money and being told they hadn't received the £100 paid days before on their payment book I snapped at that point I was sitting in my car and saw people watching me but all I wanted to do was cry, I threw the phone down and turned up the music to drown out the person on the phone. After I gathered myself I called back only to get the same person whom I refused to speak with and requested anyone but her. I then gave them the details of the payment slip so they could find my money then proceeded to tell them it wasn't good enough as it had happened one time two many. In the space of that week I paid them £500 and they still calling me every week and txting me and sending letters.

 

It has only been today I went to CAB and have an interview with a debt councillor 7th May but they didn't do anything about my main problem, the default notice which is up today. I came home with the intention to pay something until my appointment as advised, and searched the site found a link to another and then to the Stephensons site who I have contacted. I came home and read more and am horrified by all I read and think what is this I have gotten myself into:? . Stephensons are calling me back on Friday but what do I do until I am advised??

 

I have heeded the warnings and hidden my car, until I can call them tomorrow and see what the deal is, I have even read on here about the N440 and printed one, but need to know does it cost anything to apply?

 

And have also read about the 7 day register with high court and wonder who do I contact to find out when my car was registered?

 

And if it was incorrectly registered ((I can only live in hope)) what are my rights what can I do??

 

Where can I look to research for myself if this contract is legal? And would applying for bankruptcy save me from them let alone save the car as it is now valued at £3016 part ex and just under £4000 private. Which is higher than the ignored amount stated in the bankruptcy info, however I can only hope my health issues saves the car!! Or that they allow me to Friday to clear the smallest though I know they would then start default on the larger just to be awkward!!

 

ps...while at CAB we realised I was being charged not just for every letter but every call, luckily not the txts)

[sweetnsexyenglish]

Since reading the site I have been doing my own investigation...

 

to update: The car is still registered in my name so I am applying for a new logbook. Not that I hope it will do much other than should they report my car stolen and I have nothing to show that I own the car.

 

I spoke with LBL about all my grievances and was advised, they can only charge once a week for phone calls regardless if they call 3 times for that week. I have disputed the calls I have made to them where they have still called me afterwards considering information would have been put on the file regarding my contacting them and any arrangement, hence there should be no need for them to again call me and charge me had they read the notes on my file and saw that I had already spoken with them about the same matter.

 

Also raising the matter of the charged calls where they have said I have not paid and they have had my money sitting in a holding container unallocated to my account because of there cock up. I was told that sometimes these things happen when a customer looses the book and maybe the person changing the books enters one number incorrectly....however after having studied all forms of computer law and data law and validation I pointed out once is not so bad but when it happens on several occasions it is not good enough to use that as an excuse as the company have a duty to make sure of the validity of data being input and should have procedures in place to validate data before making changes on the wrong accounts.

 

I have also called the county court as I was told all copies of bill of sale would be sent there, the register goes back a few years and my name does not appear on it at all, so I called back the Royal Courts of Justice ... 02079476000 who had the manager call me and basically they did say it depended on the address LBL registered as a copy would have been sent to the closest County Court, however the manager also said there is a possibility they may not be registered as LBL often fail to register them. However he did agree as I should have appeared each time they made a bill of sale and the fact my address is correct on the copy I actually signed that it is highly unlikely they could have been lost in the post so many times in transit from High Court to my local County Court, so there is a possibility they were not registered which would make them void but until they search the central records and issue me with a certificate which then is unarguably correct.

 

Now my dilemma is that if I send off for them today I wont get the info back by Friday which is the date I promised to pay £600 to try and clear the account as early settlement was quoted at £750 or I could pay the minimum they wanted of £280 and this must be paid by midday. But if mine is not registered then its a different ball game.

 

Also as this is not going through the court am I still able to apply to the courts on a N440 or does my case have to be going through the courts??

 

And lastly...((my mind has just gone blank:o )) yes I remember:D Should I have received a copy in the post different to the one I had when I signed i.e. bill of sale as other than the payment books I never have received any paperwork other than on the day I signed the agreement? They also fail to advise customers when they say you can pay by visa that they charge you to pay by visa until just before u make the payment. No paperwork which shows the way to pay announce such an import piece of info to someone who is already broke and uses a pre-pay MasterCard as a back up for paying quickly!!

[sequenci]

Hello there. I've just skimmed through your thread as it is quite long, I'll spend a bit of time going through it in more detail during today for you. I think it is important that you keep the car hidden for the time being. This is how you check registration, well worth doing.

 

• Make a written application (no internet service) with a £40 fee (recorded/special/registered delivery)

• Provide the name and address of themselves and the other party

• It is likely that you will receive a response within a couple of days.

• The address is Judgement and Orders Section, Room E15, Royal Courts of Justice, Strand, London, WC2A 2LL

 

Also can you please get back in touch with the CAB and demand that they get their Specialist Support Unit involved with this, they are brilliant and would be VERY helpful. Was it a Money Advisor at The CAB you had an appointment with?

[389shell]

Blimey, what a bunch of cowboys!

 

I am no expert, but am sure that someone will be along soon with good advise.

[sweetnsexyenglish]

Sequenci...No they have made me an appointment with a debt councillor...and any advice would be much appreciated as I have a hyperactive thyroid the extra stress means I cant eat cant sleep I am constantly at the window to see who is outside even at 3am....

 

the site has some useful information but also frightening information as until I read others experiences with the company I was completely in the dark now I am afraid I have made a deal with the devil and he wearing more than Gucci!! I am so stressed out with everything going on in my life my palpitations have started and I am waiting for the panic attacks to kick in...I am a single parent divorced with three kids and so stressed out at present I want to cry but am afraid if I do it wont stop. Even my daughter was reduced to tears seeing how stressed out I am, and the £600 I have promised to pay would serve us better not being paid to LBL!!

[sweetnsexyenglish]

I cant believe this...I called CAB to see exactly who I'd be seeing i.e. Money Advisor as per information supplied by Sequenci and to ask that it be raised to the specialist support unit. However it would appear the advisor passed me to the debt councillor for debt advice and did not even photo copy or acknowledge what I had told her about the default notice and the papers I brought with me concerning my contracts with logbook loans. I must admit I did wonder why they didn't even attempt to do anything when I told her about the default notice being up on the 22nd April and what should I do....she just said pay what I can pay till the appointment....I think I need a different office!!

[sequenci]

I cant believe this...I called CAB to see exactly who I'd be seeing i.e. Money Advisor as per information supplied by Sequenci and to ask that it be raised to the specialist support unit. However it would appear the advisor passed me to the debt councillor for debt advice and did not even photo copy or acknowledge what I had told her about the default notice and the papers I brought with me concerning my contracts with logbook loans. I must admit I did wonder why they didn't even attempt to do anything when I told her about the default notice being up on the 22nd April and what should I do....she just said pay what I can pay till the appointment....I think I need a different office!!

 

 

I don't usually do this, I'm going to PM you with some useful info.

[sweetnsexyenglish]

Thanks Sequenci received and replied. And I have ordered a new Logbook, couldn't spare the money really but needed it for peace of mind!!

[sweetnsexyenglish]

still awaiting advice...however I have typed up my letter to the Royal Courts of Justice and am off to get exemption forms so I can request my information and also apply for this N440, assuming I can apply!!

 

May I also add.... Each time I took a loan I was paid by cheque, now knowing the customer is desperate for the loan then to have to wait to bank it and cheque clear seems a little ridiculous as provident would have had the cash on hand...and only people on low incomes and bad credit would even attempt at obtaining money from these sources, so you would have assumed LBL would have brought cash. I was advised to go to my local cash converters to change the cheque being told they had an agreement with them and would do it for something like 2%. Only when you get to cash converters they say there is no way they could change it for such an amount as they would not be making any money off the cheque, and apparently it is not the first time a customer of LBL has been given this false info.

 

So in fact the initial loan requested is made higher because I am sure I am charged interest for the higher amount of loan where they have in fact added the 1st 4 weeks and took the 4weeks to pay that first months payment then my money is reduced via paying charges to change said cheque.

 

The employee of Cash Converters even went on to say that LBL no longer operated from any premises of Cash Converter and hinted at allegations of theft from within LBL for this reason...its times like this I wish I had recorded the conversation!

 

If I uploaded my contracts would someone be able to skim and see if its legal.

[sequenci]

I think a Time Order would be very important right now, a bit more info for you:

 

National Debtline England & Wales | Debt Advice | Factsheet 06 Time Orders

[sweetnsexyenglish]

Thanks Sequenci...Gave the National Debtline a call for info on the time orders and we discussed my problem they are sending me out some information on Bill of Sales. He did say I could ask LBL to provide me with a copy of the Bill of Sale which will be stamped by the Courts....but erm...I would rather stay one step ahead of the game and not let LBL know what I am doing, plus I really dont wanna p*$$ them off without being sure of the facts.

 

Funnily he said he cant advise me what to do but also recommended hidding the car until I get the info on the Bill of Sale but suggested I should write them and offer a £1 a month as my income currently is very very low...I can really see LBL going for that lol!!

 

Now considering my smallest loan was £600 the total charge is £1,646.78 and I have £796.67 out standing which I am sure as an early settlement figure is was given £753 While I have been charged 9 * £12 for calls and letters so £108 of that money is also charges. the APR is 402.9%

 

The larger loan of £1500 I have been charged £3,947.48 and have £1,496.36 left to pay. Out of this 28 charges for phone & letters at £12 a time hence £336 of this total is charges the APR is £322.1%

[sequenci]

You need to start reclaiming those charges pronto.

[sweetnsexyenglish]

Can I do that along side still paying them and doing everything else....better dust my cape off Superwoman aint a match for me...tired of being robbed and am broke already...

[sweetnsexyenglish]

I would much appreciate it if someone here could help me, my post I dont know if I have placed it in the wrong forum but it is titled Logbook Loans Desperate Situations under General Consumer Issues I would appreciate any advice.

 

With Thanks

[sweetnsexyenglish]

Update: I put my letter in the post today to request BOS information...Keeping fingers crossed its good News for me!! After all the palava to get paper work ready for fee exemption decided to pay it myself and see if I can claim fees back as time is of the essence!!

 

Received the call from Stephensons and have emailed over all documents...so we are now on a roll. time now 12:06 guess I now need to inform LBL as payment was due at midday!!

[sweetnsexyenglish]

You need to start reclaiming those charges pronto.

 

Could You advise me through the process please so I can get this underway. Thank You.

[sweetnsexyenglish]

I have two loans with LBL :smallest loan was £600 the total charge is £1,646.78 and I have £796.67 out standing which I am sure as an early settlement figure is was given £753 While I have been charged 9 * £12 for calls and letters so £108 of that money is also charges. the APR is 402.9%

 

The larger loan of £1500 I have been charged £3,947.48 and have £1,496.36 left to pay. Out of this 28 charges for phone & letters at £12 a time hence £336 of this total is charges the APR is £322.1%

 

I have been advised on here to apply for my charges which total £444 not including interest...I am drafting a letter at present which covers both harassment and unfair charges for phone calls and letters....even if they argue it, I have combined the two as a lot of the calls were not required and have been charged for those that where due to employee error also. i.e. accusations of non payment, though money paid but they removed my payment book from account hence money had no owner.

 

I have searched to find a template which covers requesting these charges...can anyone advise where I may find it.

 

With Thanks

[ananya]

Hi, you can send a letter claiming back your charges using the templates found in the document library.

 

An explanation as to where these templates are can be found here - http://www.consumeractiongroup.co.uk/forum/bank-templates-library/139988-bank-claim-templates-temporarily.html

[ananya]

If it's mortgage or secured loan charges you are claiming, then the template can be found here - http://www.consumeractiongroup.co.uk/forum/mortgage-companies/71276-mortgage-charge-letter-templates.html

[sweetnsexyenglish]

Thank You

[sweetnsexyenglish]

Its all a farce...I know for a fact I was not asked to fill out any form to access my eligibility or ability to pay back and as far as interest rates my eyes bulged after the fact as these were never explained by Andy Pilgram according to Andy when I took out my 1st loan, he said whether I kept the loan for a week or four weeks I would only pay £100 extra so I kept the loan for the four weeks and it cost me £800 + for a £500 loan!!

 

And the staff though not all I have spoken to but the majority are rude and aggressive and worse if they catch you on a day your feeling down already I spoke to a Deborah who was bullying in her nature and as far as working with you ....everyone knows your future is not paved in stone what you can handle today is a burden tomorrow, things happen that are outside human control and when you speak to those as LBL they do not care they tell you " you signed a contract" like ones life is tied to a contract and therefore nothing bad can happen....I experienced this when my daughter stole from me and threw away my bank card and when the direct debits then bounced and your charged £30 for each DD and a month after the incident I was feeling it when £90 was taken from my bank for the three failed DD's leaving me £24 to look after myself and 3 children I feel it every month now that my home insurance is £10 a month more expensive than my previous because when they cancelled my home insurance because of the failed DD they no longer sold that same policy to put me back on it. And now every month I am robbing Peter to pay Paul then having to rob Paul to pay back Peter!!

[sweetnsexyenglish]

Update: I have combined the template for harassment phone calls and the reclaiming of charges which I have sent to LBL, also I have been told I can also involve the Financial Ombudsman but I must have first sent them a letter of complaint so they have been given their 14 days notice.

 

The solicitor contacted me and it is disgusting to hear that LBL are more than aware the BOS are not legal but will still seek to take the car, so even if I get proof it is not legal and is in fact VOID I still can not rest easy. How do people get away with this??

[389shell]

I have no idea, they just have to count on people not knowing their rights.

[sweetnsexyenglish]

I have searched and read every possible Log Book Loan thread on the site and other than the few that managed to gain back charges I am sad to see there are not more victories, can anyone tell me what came of the OFT, Watch Dog reports?

[sweetnsexyenglish]

Update: Well I guess Log Book Loans are gonna get there's, I have just received this morning a letter from the solicitor a copy of letters he has sent to LBL and in the process he has executed my cancellation rights. The Credit Agreement he has found to be unenforceable on so many grounds...I will once this is over post the information supplied but due to fears of LBL employees viewing these sites I will refrain from giving too much away and he has also asked for evidence that the bill of sale is registered as again it does not meet required format and is witnessed and signed by the said same person (all he did was sign it differently in both places). Please keep your fingers crossed as if it wasn't for the wealth of information I have read on here I would not have learnt half the information I have obtained.

 

I am going to try and have the bank recall money I have just paid as he has in effect cancelled my contract and I have in effect paid them more than there money back!

 

I have been on here reading religiously other peoples cases and feel for every unfortunate sole like myself who have had no other means of obtaining finance and have made a deal with the devil unknowingly. I feel so strongly I have emailed the OFT, Financial Ombudsman, my university as the advice SU gave previously was unhelpful due to lack of knowledge on their part and I would not wish these sleepless nights on anyone else worrying over debt.

 

I felt myself slipping and becoming depressed because of the harassment and CAG with all its information have enabled me to fight back, and I am not assuming it will be easy after reading everyone else's struggle, but although we may be "sub-prime" we are all HUMAN!! Our money is as good as anyone Else's we work just as hard we still have to eat and feed our families like the credit obtaining people. I will keep updating although I seem to be a poster of one on my tod bar the few head pops and advice gladly received from Sequenci.

 

So If I seem like a saddo still posting on my own, humor me as win or loose I want people to know I have been through this and what works and what doesn't so the next unsuspecting victim can also have a guide to help as those I have read have helped put fire in my belly and action before me to stop being a victim and fight back!!

 

Ps Did I forget to mention I have wrote to Watch Dog and the Observer on their piece done on the 26th and intend to write my local paper as we are the lucky few who have come across CAG but what about those who have no idea of how to go about things and are suffering in silence!!