Log Book Questions & Answers

[Guest Log Book Loans Employee]

I am happy to answer genuine questions, and vexatious or silly comments will be ignored, and you will be talking/typing to yourself

[alanfromderby]

Hi, and welcome to CAG.

 

It is always good to have views from people within companies, and it may also help you to understand where our members are coming from as well. Hopefully members will be courteous and accept that you are here to answer genuine questions.

 

Obviously, by the very nature of the topic some strong opinions may be forthcoming. However should any posts breach site rules they will be dealt with accordingly, and we ask that they be reported to the Site Team.

 

Site Admin

[Guest Log Book Loans Employee]

Thank you to the management.

 

Indeed its always good to show customers and members of public who view these sites our version of events.

 

All answers will be unbiased and fair to both the customer and Company.

 

Regards

[Nelliedean75]

Ok then, genuine question, if a client of lbl got themselves into the situation that they could no longer afford the repayments would lbl be prepared to allow client to find a buyer and be paid the debt in full leaving client any left over money rather than it going to auction and possibly raising less money?

[shammy1]

Hi there

Thanks for taking the time to answer questions on LBL. My question is, if you pay the loan off, and have a figure left due to missed payments, can you dispute this, as letters come from LBL saying, loan now overdue (due to charges added at the end) and needs paying immediately or risk car reposession. Is this really possible? I would like to dispute the figure, but as a mother of three with another on the way, I cannot afford to lose my only means of transport. I want to get my keys back and put the loan behind me, but with still a large figure hanging over my head I dont know how this will be possible? I have asked LBL for a full breakdown of the charges as I wanted to seek advice from CAB but they have said they cannot break down what each £12.00 charge is actually for.

Your advise would be really aprreciated.

[bpoolkara]

Funny how those basic questions have received no response at all!!! Re-inforces my opinion of those cowboys lol.

[Guest Log Book Loans Employee]

Hi Shammy

 

Sorry bit late, there should be no problem if the loan is paid off, if their are charges then query them, generally if the loan is paid of their should not be a prob, however what kind of figure are we talking about?

 

If the amount is quite large which it should not be, then certainly query it, as they are being refunded at the moment, because of you are a potential returning customer, unlikely! lol.

 

Let me know if there is anything else.

 

Bp, shame on you lol

[shammy1]

Thank LBL Employee, the charges are over 600 pounds, and do seem a little unfair. Will see what we can do - although others have advise I pay them so that I can get my documentation back first before asking for the claims back. It does seem sound to do this, as reading others stories on here, I dont want to lose my car over the charges, as it would mean having to give up my night job etc and so reducing our family income, which wouldnt be a favourable option.

 

Shammy

[24fan]

hi

I have approx £150 left of my loan with logbook,but have been advised I have £612 of default charges, I made a debit card payment last week and was advised on 16th march a letter will be sent advising £290 needs to be paid to prevent further action (taking of car). I have already sent letter 1 asking for them to waiver the charges, yesterday I sent letter 2 advising if they do not waiver the charges I will have no reservations to persue this via the online small claims route, They advise the charges are to cover staff costs and building costs and extra man hours to advise of missed payments, I responded to that claim that the very high interest rate already compensates them more than enough for such costs. I have also swapped my car with a relative just incase. Once I have cleared the loan balance next week I will be requesting my logbook and for the matter to be closed, will LBL still try to enforce the bill of sale and try to seek possession of my car

thanks for any advice on how to play this out

[Fleeced73]

Call me a cynic, but this call for LBL Q&A's seems to be very one-sided - all that seems to be happening is they're getting more info out of people, offering no real advice or insight on this board (or, indeed, explanation for all these people evidently saddled with hundreds of pounds of charges at the time of expected conclusion of their loans) with any 'meat' promised on PM's.

What SHOULD be happening is they (LBL the company) should be seeking to arrest what appears to be wholescale issues with their business by nominating an identified spokesperson on a special customer care line and not just posting glib responses at 1 in the morning on here.

All that's happening is yet another clear example of the company treating their customer base with patronising contempt and no attempt being made to explain or justify the actions of themselves and their agents.

 

"lol" stands for laugh-out-loud, and you best believe that's exactly what they are doing.....

Edited March 16, 2009 by Fleeced73

[24fan]

it may be just me, but there seems to be a lot of us LBL customers with a big coincidence of us all aparantley owing £600 give or take a few pounds, nearly every customer blog i have read about the default charges from LBL all seem to be near enough the same amount, I find that quite odd in itself as all the loans are different amounts over different lengths of time....but always £600 ???????????????????????????????????????

[jaxads]

Yes, mine was just below the £600 mark too - but I did claim it all back

 

I must admit, I'm a little alarmed/concerned at some of the OPs posts.

[applecart]

It is Interesting that the LBL employee has not responded to anymore posts since the 13th March 09.

 

On the 13th March 09 the LBL Company (Nine Regions Ltd) were minded that the OFT seeks to revoke their credit licence.

 

They have 21 days in which to make representation.

 

No doubt he will be busy copying and pasting the 'postings' regarding his registration on this forum and getting them in front of the Adjudificator to assist them with their plea for keeping their licence.

 

I find it appalling - I fear this will not be the only forum that he will have sought to be seen to be 'oh, so cutomer facing/caring'....

 

Or could it be, that he accepts that it may be, that he will no longer be working for LBL's as and if they lose their credit licence and sought a more respecful career?

[sweetnsexyenglish]

It is Interesting that the LBL employee has not responded to anymore posts since the 13th March 09.

 

On the 13th March 09 the LBL Company (Nine Regions Ltd) were minded that the OFT seeks to revoke their credit licence.

 

They have 21 days in which to make representation.

 

No doubt he will be busy copying and pasting the 'postings' regarding his registration on this forum and getting them in front of the Adjudificator to assist them with their plea for keeping their licence.

 

I find it appalling - I fear this will not be the only forum that he will have sought to be seen to be 'oh, so cutomer facing/caring'....

 

Or could it be, that he accepts that it may be, that he will no longer be working for LBL's as and if they lose their credit licence and sought a more respecful career?

 

 

Also has it never crossed anyones mind that anyone can create an account and call themselves whatever, the fact that as has been previously mentioned, to join and gather enough information on here in order to help themselves, not good and I for one have nothing to say to the op that my solicitor can not say before a judge and what I have also forwarded to OFT....I think the way LBL operate is underhand and his/hers postings offer no real advice/support for the customer so then the question is why did they join?

[applecart]

I've just been scouting the OFT Website again and I found this interesting fact that may help those that are visited by Companies who call out to collect the debt or the vehicle on behalf of log book loan or other Companies in the capacity of 'debt collector'

 

UNLICENSED TRADING

 

"IT IS A CRIMINAL OFFENCE TO CARRY OUT ANY ACTIVITY THAT REQUIRES A CONSUMER CREDIT LICENCE BEFORE A LICENCE HAS BEEN ISSUED TO YOU.

 

EVEN IF YOU HAVE A LICENCE, IT IS AN OFFENCE TO CARRY OUT ANY LICENSABLE ACTIVITIES THAT ARE NOT COVERED BY THAT LICENCE

 

UNLICENSED TRADING IS PUNISHABLE BY A FINE, IMPRISONMENT, OR BOTH

 

IN ADDITION, IF ANY OF YOUR CUSTOMERS WERE TO DEFAULT ON A PAYMENT, YOU SOULD NOT BE ABLE TO ENFORCE A CREDIT AGREEMENT THAT YOU HAD MADE WHILE UNLICENSED, OR WHERE AN UNLICENSED CREDIT BROKER WAS INVOLVED.

 

AN AGREEMENT FOR THE SERVICES OF A CREDIT BROKER, DEBT COLLECTOR, (such as Anglican uk ETC), DEBT ADJUSTER, DEBT COUNSELLOR,, DEBT ADMINISTRATOR, CREDIT REFERNCE AGENCY OR PROVIDER OF CREDIT INFORMATION SERVICES CANNOT BE ENFORCED IF THE AGREEMENT WAS ENTERED INTO WHEN THE BUSINESS WAS UNLICENSED.

 

 

ALSO - Note the following:

"YOUR LICENCE WILL BE ISSUED IN THE NAME OF YOUR PARTNERSHIP, LIMITED COMPANY OR OTHER TYPE OF ORGANISATION (such as a charity)

IF YOU ARE A SOLE TRADER, YOUR LICENCE WILL BE ISSUED IN YOUR OWN NAME.

IF YOU ALSO CONDUCT LICENSABLE BUSINESS UNDER ANY OTHER TRADING NAME(S), YOU MUST APPLY FOR THE NAME(S) TO BE INCLUDED ON YOUR LICENCES.

IT IS A CRIMINAL OFFENCE TO CARRY OUT ANY ACTIVIYT THAT REQUIRES A CONSUMER CREDIT LICENCE UNDER A NAME THAT IS NOT ON YOUR LICENCE. "

 

IT IS A CRIMINAL OFFENCE TO CARRY OUT ANY ACTIVITY THAT REQUIRES A CONSUMER CREDIT LICENCE UNDER A NAME THAT IS NOT ON YOUR LICENCE.

It could be argued under this regulation that it essentially means that as Log Book Loans license does not show the name of Anglian UK Ltd or Gemini or any other Debt Collection organisation that may have visited you - if these Companies do not have a license in their own right - then they AND LBL are committing an offence, for which they can be arrested. The debt collection Company MUST have a license in their own name to collect money or carry out any enforcement action on behalf of LBL's. Debt Collectors licenses are issued as a Catergory 'F' as LBL's licence does not cover them due to the fact they are not mentioned in LBL licence.

I hope this 'research' can help anybody who may have been confused by LBL's regarding enforcing a debt in default.

Licence Details of log book loans.txt