Log Book loan well overdue

[Kwoo]

Hi everyone,

 

i made a the biggest mistake of my life approx 12 months ago by borrowing money on my car for a log book loan.

 

The total amount borrowed was £2150

Total to be repayed is £5,073.90

Equivalent to annual percentage ( APR ) of 284.6%

 

Due to job loss I havn't made a payment for the last 3 months putting me in arrears of over £700.

I have contacted logbook loans stating my situation that i cannot pay them what i owe. They sent me a letter stating that it will be going to court to seek possession of the car/full amount outstanding

After numerous letters from logbook loans stating they want thier money ( which i havn't got ) a bailiff was banging on my door on sat 14th 6:45am stating that they were here to collect the car ( also present was a recovery truck ) After being woken up by this moron at this time of the morning they left around 10 minutes later without the vehicle, i simply refused to let them take it.

 

He stated that he had a court order for the vehicle ( which i wasn't shown ) I never recieved any correspondence from the courts stating this was happening, is this normal practice or should i have been made aware of thier actions by post so i knew what the sitiuation was.

 

As far as i'm concerned they're not taking the car & putting it into auction so it makes nowhere near it's value & i probably end up still owing them money & having no car.

 

Does anyone here have some sound advice on how i can keep these hounds away from my door untill i get back to work & can start paying thier crazy rates back to them. The most important thing is to keep hold of my car so i can get to work again.

 

Thankyou in advance for your help & support,

 

Kwoo

[Fleeced73]

Mate, the answer lies within this thread

http://www.consumeractiongroup.co.uk/forum/log-book-loans-bills/188432-ex-parte-injunction-against.html

or by ringing 01942 774562

 

Either way, keep the car hidden for now somewhere they won't find it and can't snatch it

[Kwoo]

Thankyou for the speedy response.

 

if i go to court in the morning & the judge imposes an injunction on lbl for selling etc then great for me but can they still take it even though an order has been imposed. The car is well hidden & will remain that way untill i can get this matter resolved.

 

One more thing to ask you,

 

the debt collector/bailiff that came to my house, do i now owe the debt to him or still lbl ? Is there anyway i can hold these vultures back for a while by phoning them & coming to some arrangment until i can catch up with the arrears, either speaking to lbl or the bailiffs.

 

many thanks

 

Kwoo

[Fleeced73]

No you ask for an order to prevent them taking the car, an injunction. The debt collector (NOT a bailiff, if he claimed to be so ask for his certificate - something else to tell the court) is acting as an AGENT for LBL, the money is still owed to them not any debt collector, the debt has not been 'assigned' to anyone else.

The fact is thus: they have already sent a guy round for the motor so you are perfectly within your rights to request an interim injunction preventing them seizing it as the threat is very 'real'

[Kwoo]

No you ask for an order to prevent them taking the car, an injunction. The debt collector (NOT a bailiff, if he claimed to be so ask for his certificate - something else to tell the court) is acting as an AGENT for LBL, the money is still owed to them not any debt collector, the debt has not been 'assigned' to anyone else.

The fact is thus: they have already sent a guy round for the motor so you are perfectly within your rights to request an interim injunction preventing them seizing it as the threat is very 'real'

 

Thankyou for the answers,

 

i have had an offer made to me today from someone wanting to swap thier car for mine + give me a couple of grand. As it stands i'm just over £700 overdue with lbl, if i done this deal with my friend & then settled up the arrears with lbl i would still owe them the oustanding amount. Do you think an offer of the overdue £700 + a few months payments in advance would buy me a few months grace to get back into work & eventually settle up in full, thus having lbl leave me alone for a while.

 

Another question regarding the logbook itself:

 

when i took out the loan i had to leave my logbook with them, would they still have the logbook & would it still be in my name or would they have or be able to send it to DVLA to transfer the vehicle into thier names as the rightfull owners.

 

If they havn't & i am still the registered keeper whats stopping me from going to DVLA & obtaining a duplicate logbook ( for a fee ) so my friend can have it & send it off to be new registered keeper & as long as i can keep paying them then surely he wouldn't have lbl breathing down his neck & they'd be none the wiser as to what i have done.

[JAN1471]

Don't do any thing with your car, just hide it for the moment, if you read the threads by werecarless, he swapped his car with a friend and they came and took the car of werecarless, even though, he did not take out the loan with LBL, they still came and took his car and he is currently going through a solicitor, to see if he can get his car back.

 

So they will take the car from your friend, even though he did not take out the loan on the car, so if you do swap it and your friend gives u x amount, they will still want the rest of the money and may well take the car your friend.

[wearecarless]

DO NOT SWAP YOUR CAR your friend will have the car taken from them and they will not be entitled to anything. We trying to do something wt them.e intouch with a solicitor that is trying to help us.

 

Look in The Daily Mirror on Wednesday our story will be in.

 

The swap we done was through an advert in a local paper the people who we swapped with have done this before (reliable info from debt collector who took our car). They were well known to the company.

 

Up until 2nd December 2008 we had never heard of LBL, we didn't know you could get a loan this was. What away to find out about them.

 

Daily Mirror on Wednesday.

[Kwoo]

DO NOT SWAP YOUR CAR your friend will have the car taken from them and they will not be entitled to anything. We trying to do something wt them.e intouch with a solicitor that is trying to help us.

 

Look in The Daily Mirror on Wednesday our story will be in.

 

The swap we done was through an advert in a local paper the people who we swapped with have done this before (reliable info from debt collector who took our car). They were well known to the company.

 

Up until 2nd December 2008 we had never heard of LBL, we didn't know you could get a loan this was. What away to find out about them.

 

Daily Mirror on Wednesday.

 

I'll be buying the paper on wednesday,

 

thankyou for all the replies

[Kwoo]

Hi,

 

i have just arrived home & checked my answer phone & a bailiff/debt collector has left a message for me to contact them to arrange settlement of the full amount ( which i havn't got ) & also that if i didn't they said that lbl will be contacting the police to report the car stolen. Can they do this or is this fool just trying it on. The car is still in my name not lbl so how can they report something stolen that isn't thiers,

 

thankyou in advance for answers

 

Edited March 17, 2009 by Kwoo

[saintly_1]

2 threads merged please keep to one thread it makes it easier to see whats gone before avoiding any confusion or repetition of advise

 

 

saint

[24fan]

I received letter from LBL today advising my agreement has been terminated and that they will seek possession on 20th March. I have £155 outstanding on the loan which I have offered to pay in full on 20th (my payday). They advise £612 has been added for default charges and this is due now to stop possession. I have just sent letter two requesting the default charges to be removed, advising I have no reservation in going to court to get the charges removed, they stated in their reply its covers extra admin, building costs etc, my reply to this was there interest rates more then compensate for such things.

I rang them just now and have been told that the possession order stands unless full payment including default charges are paid.

1) do I just go ahead and lodge online claim now

2) do I need to go and get court order to prevent them taking car

3)should i make arrangement to pay charges with them whilst claim going through

 

please help

[Kwoo]

Hi,

 

can someone tell me what a "bill of sale " is please & what does it mean as i'm not sure if i signed one. If i did what does this mean between me & lbl.

 

or if you have a link for me so i can read what a " bill of sale " is

 

thankyou

 

here's my story if you havn't seen it already

 

http://www.consumeractiongroup.co.uk/forum/log-book-loans-bills/189399-log-book-loan-well.html

Edited March 17, 2009 by Kwoo

[Oh Boy!]

Bill of Sale is just that, it is a clandestine piece of document that pass's your ownership of property to the person who holds the BOS.

 

The Bill of Sale transfer ownership from you to them, you then have no right to that property and it can be taken from you without court order.

 

You would of signed one if you got a logbook loan.

[Fleeced73]

There's a reason you don't know about the Bill Of Sale, or what it means.

The LBL salespeople don't/won't explain the seriousness of signing it - all the more reason to challenge the validity of the loans on a Court of Law

 

 

Hi,

 

can someone tell me what a "bill of sale " is please & what does it mean as i'm not sure if i signed one. If i did what does this mean between me & lbl.

 

or if you have a link for me so i can read what a " bill of sale " is

 

thankyou

 

here's my story if you havn't seen it already

 

http://www.consumeractiongroup.co.uk/forum/log-book-loans-bills/189399-log-book-loan-well.html

[Fleeced73]

Don't pay! Either follow the instructions on the other thread and apply for an ex-parte injunction to prevent the car being taken, the ultimate result of which will yield more than these bogus charges being ruled as invalid. or challenge their charges and risk losing the car - that option would of course mean you would have to hide the car somewhere safe in the meantime.

 

Don't under-estimate just how corrupt EVERYTHING AND EVERYONE involved with this organisation are, it's endemic from the salespeople to the management, repo agents and even their solicitor.

[Kwoo]

Bill of Sale is just that, it is a clandestine piece of document that pass's your ownership of property to the person who holds the BOS.

 

The Bill of Sale transfer ownership from you to them, you then have no right to that property and it can be taken from you without court order.

 

You would of signed one if you got a logbook loan.

 

I had a message on my answer phone today stating that lbl will be contacting the police stating that the vehicle has been stolen if i dont pay up or hand over the car,

 

so what should i do, can they call the police & say i've stolen it ?

 

thanks in advance

[DoubleCheese]

Kwoo, wearecarless has good advice. Don't sell the car to your friend, they will find it in the end and will get it, only leading to more bother down the line.

 

Have you spoken to them and explained you were out of work? Have you made them the £700 (arrears you say?) and advanced payments offer? What did they say?

[Kwoo]

Kwoo, wearecarless has good advice. Don't sell the car to your friend, they will find it in the end and will get it, only leading to more bother down the line.

 

Have you spoken to them and explained you were out of work? Have you made them the £700 (arrears you say?) and advanced payments offer? What did they say?

 

 

I have just finished a telephone converstion with lbl & they are happy to accept £40.00 pw untill i am back to work & also that they will call off the bailiffs.

 

They have also asked me to go into thier office to discuss this with them in more detail, while i'm there is there anything i shouldn't sign or anything i should ask for from them

 

My concern now is that if i should bring my car home & wake up one morning to find it gone as my drive is close to the road so it wouldn't be a problem for them to take.

 

Are these people to be trusted ? Has anyone else had a similar deal with them only to find that they still took the car anyway. The lbl company is based in Norwich on St benedicts street. If you had the same offer as me from the same shop & they still took your car or not please let me know

 

thankyou in advance for your advice & answers

[Kwoo]

oh my god need advice fast have just been reading the bill of sale that i was given from mm and it says that they have the right to seize the vehical hereby assigned then he and his agents may enter and remain upon any premises where the vehical may be and if necessary break open doors and windows in order to obtain admission is this right

 

I've got the same thing on mine, the day they can legaly break into someones home & just walk out the door with your items will be the day lbl writes of everyones debts as a goodwill gesture I would take that piece of information with a pinch of salt.

 

If someone does break into your house lbl or any other person then they'll be dealt with in the same manner as a burgler & probably sent to one of Her Majestys finest hotels

 

My friend insisted that a bailiff can break into a house & remove items, i had to prove to him wrong via the internet that they can't. If a door or window is left unlocked/open then they can gain access & remove goods but they are not allowed to remove anything which has a higher value than the outstanding debt

 

Like i said, if someone breaks in then it's a criminal offence, so don't worry about that, it's not worth the paper it'd written on

 

I hope the info i have given you is correct & also help you to stop worrying a bit

[mrschan]

Hi Guys.

 

Im in a similar situation and really need to buy time.

 

Can I ask.. what If i simply keep the car hidden? Can I keep it hidden for as long as needed to fix this?

 

Could they take any of my other things besides the car and also will they be able to call the police and say I "Stole" it as they have the logbook?

 

What about driving the car abroad to hide permanently?

 

Thanks

[steuts1]

My log book loan is out of contract, can they still take the car even though I am making weekly payments, albeit not the original repayments but regular weekly ones. They are threatening repossession. They have stopped charging me any default/arrears charges.

[steuts1]

Update from last thread, I have spoken with LBL who say I have an outstanding balance of £597, this is pure interest. They no longer put arrears fees on my account and say it is out of contract. I offered a one of final payment of £300 to close account, advisor spoke to manager and said they would take no less than £400, which I don't have.

So, they are now saying I can carry on paying £10 per week till balance paid as they wont accept the £300. Is this classed as unfair ? I don't understand, I have offered to pay as much as I can, they have an income and expenditure form to prove I cant pay anymore than offered, they cant add anymore interest or fees, so why would they want to drag it out for over another year. The car is on its last legs as well. Would I be within my rights to ask them to come and collect it and if I have proof of how much it would sell for from a few places, what would I do if they sell under value ? Think it may be worth just what is outstanding on the account. Can I counter claim in court that they are being unreasonable with charges etc.. original debt was £500, I have paid back over £1200.