LBL CCA Licence - Important Information

[applecart]

Thought you might all like to know the following information:

 

The OFT have minded Log Books Loans of their intention to 'revoke' their licence!!

 

This was done on the 13th March 2009 and the information can be found on the Public Register of the OFT website.

 

Where you have an issue with Log Book Loans, or where you feel you are being treated unfairly - NOW is the best time to email and report your issues directly to the OFT.

 

Where you have a court case on-going, may I recommend you print off and take a copy of the license registration details of Log Book Loans to the hearing - the fact that the intention to revoke shows - this will give the Judge a good idea of the type of company he is presiding over and may help your case.

 

Also, when you go to court take a copy of the Debt collection guidelines of the OFT and in your defence make reference to the sections within it that Log Book Loans have contravened. This will help your case.

 

Judges may think that all we are looking to do is to 'get a-way' from paying Log Book Loans......but the principle is that - I don't think there is any one of us who would have entered into a loan with Log Book other than in good faith, with every intention to pay them.... but when we find our civil rights are being denied and when we find that they have not offered the loan in good faith..... It truly is time for all of us - all those who have had occassion to make a complaint via this action group to 'step-up' and NOW is the time where your reporting Log Book Loans to the OFT should make a big difference - not only for you but for all of us.

 

Lets get back to the days when taking money from a licensed lender was in good faith on both parts, and stamp these illegal practices out NOW, whilst we have a chance.....

 

I sent my email to the OFT today....;.I implore you all to do the same ..... they need to know....if they don't have your evidence.....Log Book will be back......................................

[JonCris]

Excellent Applecart may I suggest you start a specific thread announcing this before your news gets buried in this one......... not forgetting to add a link to the OFT

[ScarletPimpernel]

It isn't possible to link directly to an entry on the OFT database. However. if you go to the OFT Consumer Credit Register page, then click on 'search the public register', and enter LBL's licence number - 4286387 - all will be revealed.

[JonCris]

Get the page but no search facility other than CCA

[sweep1]

Public Register

 

Select Search Type as BOTH

 

Enter "Log Book Loans" in Organisation Name

 

 

1st Result shows 0458150 Log Book Loans

 

Select 1st Result and indeed is shown as "minded to revoke" 13-Mark-09 in Licence Notes

[JonCris]

does this mean it's been revoked

 

Event details 17th March Public Register

[tottys]

would this be the same for mobile money????

[Fleeced73]

MM is a different company

 

This is LBL related too Public Register

[tottys]

does it say on there why they r revoking it

[applecart]

I'm happy that the information is out.......but taking Jon's advise this thread could be lost and the information is important for all LBL customers to know in my opinion.......

 

There are a number of things we need to shout about - lets not forget that this forum is called 'the consumer ACTION group'. and I believe it is not called that for no good reason - I think it means lets DO something to empower all consumers.

 

I think all regular posters are to be applauded...because they would have had an input in ensuring the OFT had enough evidence to get the matter to this stage.

 

As the matter takes pace - I would ask for your help - I am new to the site..... and I haven't quite worked out how to post a new thread that will get this message out to the masses - so's to speak

 

Those of you who do know.....can I ask for your assistance please.... to get the information across the forum to ensure everybody is aware of the impended possible revocation of the LBL licence or a possible change in their business practices?

 

Thank You all in anticipation.

 

For anyone who could not easily access the information I attach a copy below...alongwith the OFT guidelines for debt collection agents who hold a licence.

Licence Details of log book loans.txt

oft664 Debt Collection Guidance.pdf

[dampriser]

does it say on there why they r revoking it

 

I've only found the following -

 

The OFT can refuse or revoke a licence if it decides that a trader is not fit to hold one. Where there are substantiated doubts about a trader's fitness, the OFT issues a 'Minded to Refuse' or 'Minded to Revoke' Notice (MTR). This is a formal notice letting the trader know that the OFT is minded to refuse to grant a licence or to revoke an existing licence. It sets out the reasons for the proposed action with supporting evidence. Under s34 of the Act, the trader has the right to respond to the Notice by making written and/or oral representations to an Adjudicating Officer, who acts for and on behalf of the OFT.

 

Does anyone knows what happens to the companies debtors should they lose their license?

[I've got no money]

I've only found the following -

 

The OFT can refuse or revoke a licence if it decides that a trader is not fit to hold one. Where there are substantiated doubts about a trader's fitness, the OFT issues a 'Minded to Refuse' or 'Minded to Revoke' Notice (MTR). This is a formal notice letting the trader know that the OFT is minded to refuse to grant a licence or to revoke an existing licence. It sets out the reasons for the proposed action with supporting evidence. Under s34 of the Act, the trader has the right to respond to the Notice by making written and/or oral representations to an Adjudicating Officer, who acts for and on behalf of the OFT.

 

Does anyone knows what happens to the companies debtors should they lose their license?

 

The revocation does NOT affect any agreements before the date of the revocation HOWEVER if you apply to the court for any sort of relief then the revocation is evidence which supports allegations of misconduct against the creditor

[dampriser]

The revocation does NOT affect any agreements before the date of the revocation HOWEVER if you apply to the court for any sort of relief then the revocation is evidence which supports allegations of misconduct against the creditor

 

Thanks for this - I've just been accepted for legal aid and will make sure my solicitor is aware. They have already proven the BOS was incorrectly executed.

[applecart]

The attached doument may help too : )

oft329 credit licences fitness.pdf

[caro]

Information moved to new thread and stickied.

[jambuster30]

Hi,

 

i've been following the whole issue with LBL for a few months now, it seems that there are a lot of different story's as to LBL's CCL. I've been in combat with LBL for about 2 years now and decided a few months ago to research the whole company. for anyone fighting LBL.....KEEP GOING...i will be glad to help anyone in any way possible.

[georic]

Hi all,

 

Been keeping up to date with all your comments. I'm in trouble with logbook. After loosing my job, and my familly home, they are coming for my car! Trading standards have been very helpfull in identifying that inconsistencies with the agreement, however the fact remains that logbook are ruthless and wether or not the contract is 'unenforcable' no amount of threats from myself have any effect. They have passed it to the bailiffs, and they told me they dont care about the contract, their job is to collect my car!!!

 

Dont worry my car is hidden and i have moved! they'll have to pull my dead hands off the wheel to get it!!

 

With that in mind, we can go on talking about it on here, or do something about it.

 

I have been in touch with the 'News Of The World' paper and the 'Sunday Mirror'. The journalist from the mirror is coming around in the next few days with a photographer to do the story as he has had it authorised by his editor.

 

WHOS WITH ME ON THIS????

 

Lets smash them to pieces, expose them for what they are especially as there has been this contoversy with BrightHouse.

 

Their Credit lisence is in the spot light, and who better to put preasure on the OFT than national jounalists!!!

 

P.S. I have also sent an email to the prime minister, (not that he's going to read it) but if we all do it you never know.... Google 10 downing street.

 

Regards,

 

Georic.

[wearecarless]

We had part of our story in the daily mirror recently, the rest will be going in when we have more information from our solicitor. Hope having the story in the paper helps.

 

We didn't have a loan from lbl we done a car swap and the car we ended up with had a loan on it.

[georic]

Cheers wearecarless,

 

the more stories we put in the media the worse it will be for logbook.

 

My mate gordon still hasn't replied though!!

[JonCris]

I think Gordon has other things on his mind at the moment;)

[georic]

ye suppose, maybe we should all add our leagal costs to gordons expenses!!!

[applecart]

Great News..... if Gordan and his merry men can be exposed - then what say LBL's and the like?

 

Yes Credit were exposed last week - it was interesting to hear the OFT's comment, which was along the lines of 'we are working with Yes Car Credit to see what we can do to resolve the issue'

 

My interpretation of this is 'we haven't written a guideline yet for what to do in this instance and we are drafting one up as quickly as we can - to allow them to keep trading unlawfully.....'

 

Ha.... apparently the Director of Yes Credit was 'exempt' from his disqualification at the time in order to get a licence in the first place - what baloney!!!

 

Rant over......

 

It is a serious issue - these companies have involved so many vunerable consumers in their schemes.. that the burden placed on organisations such as the OFT must be huge; how do you take out a company, that has 0000000's of consumers embroiled in credit agreements that have been drawn up where a blatant abuse of laws and regulations have been and continue to be made?? and how do you do it swiftly - when the monies that are being paid by the consumer is tied up in the overall finances of the economy?

 

The mind boggles.

 

[georic]

Hi all log book fans,

 

I spoke to Stephensons solicitors today, and they are confident of their abilities to:

 

• Stop any further action on my car (currently in hiding).
  
• Prove the agreement to be 'unenforceable'
  
• Discredit the Bill Of Sale
  

They are claiming a 97% success rate against log book loans. And they are even doing it through legal aid.

 

Has anyone had any dealings with these guys? What are they like? Is it too good to be true?

[JonCris]

They have quite a number of LBL 'clients' on their books so yes they are good. Legal proceedings are ongoing

[caro]

Some people's experience of Stephensons has not been so good, but then I'm sure most companies have some clients are happier with the results than others. You need to weigh up the pros and cons of what's likely to be best for you.

 

http://www.consumeractiongroup.co.uk/forum/show-post/post-2011035.html

 

http://www.consumeractiongroup.co.uk/forum/show-post/post-2011916.html