Log book Loans Press Release

[frustrated46]

Please see below from Credit Control and Risk Magazine, on 5 June 2009:

 

Logbook Loans, the UK’s first, and most successful, logbook loans company, has announced the appointment of Matthew Heap as new chief executive. Matthew takes over from Barry Pilgrim who will take on the role of non-executive chairman.

David Barnett, financial controller with Logbook Loans for five years, is also promoted to financial director.

Logbook Loans enables people to unlock the value in their car by borrowing against it as a secured loan, while still being able to drive their car. As chief executive, Matthew will take overall responsibility for the strategic direction of Logbook Loans, which has concluded over 50,000 transactions in its six years of business.

Matthew, 27, has 10 years experience working within the sub-prime finance sector and has been with Logbook Loans for the past four years. In his most recent role as head of business development, Matthew extensively developed the company’s network of agents across the UK, increasing the number of agents partnered with Logbook Loans from approximately 250 to just under 900 today.

His previous experience as an underwriter has allowed Matthew to revise and introduce new professional standards, establishing Logbook Loans as a leader in the industry as regards best practice.

Matthew is keen that this growth is underpinned by a strong team, strategically planned targets and strict adherence to reporting procedures.

Matthew said: “I am very pleased to be stepping into the role of chief executive at Logbook Loans. I am incredibly proud of what this company has achieved to date and committed to ensuring that we never lose sight of what our customers need.

“As with all financial services it is vital that we operate a transparent and responsible attitude to lending. It is only by the constant review and implementation of thorough checks and balances, efficient internal processes and customer feedback that we can deliver the best service and continue to grow.”

A Logbook Loan is available to anyone, provided they own the car, it is less than 10 years old and it is clear or nearly clear of finance. The £17.5 million company employs 84 people at its base in Putney and 52 underwriters across the UK and is still growing.

Commenting on Matthew’s appointment, Barry said: “I am delighted to be handing over the reigns to Matthew. In his time at Logbook Loans he has proved himself an extremely capable, innovative and dynamic leader.

“His focus on driving the business forward and determination that Logbook Loans should set the standards for the rest of the industry in terms of its professionalism and levels of customer satisfaction, is part of the reason we can proudly say that 25 percent of our sales are repeat business. I am thoroughly looking forward to seeing Matthew continue to develop Logbook Loans in this new role.”

(Source - Company Press Release)

 

They are obviously DESPERATE to get their appeal through with the OFT...

[caro]

His previous experience as an underwriter has allowed Matthew to revise and introduce new professional standards, establishing Logbook Loans as a leader in the industry as regards best practice.

 

 

Unfortunately I can't post on this statement on the grounds that anything I say may be potentially libellous and cause problems for CAG.

 

I'm even at a loss as to which smilie to use so...;-)

[frustrated46]

Interesting.... are you talking about the individual concerned, or the "professional standards"??

[caro]

Interesting.... are you talking about the individual concerned, or the "professional standards"??

 

revise and introduce new professional standards, establishing Logbook Loans as a leader in the industry as regards best practice.

 

I would be interested to know how this conclusion was reached.

[Blown up]

I was hoping for much better news:-|

[caro]

(Source - Company Press Release)

 

Seems they had to say it themselves.

[frustrated46]

I'm going to court next Friday for a three hour hearing to attempt to get my car back.

I have just had their witness statement and my "underwriter", who got me to sign the documents in 15 minutes (without me seeing them before) at a Cash Converters, is unavailable to make his own statement because he now lives in... Tanzania

[IS IT ME?]

I think you should also be very very careful about what you post as well as you know they are watching as well:D

I did post for help but never got any reply's:sad::sad::sad::sad:

Edited December 8, 2009 by IS IT ME?

[caro]

 

I did post for help but never got any reply's:sad::sad::sad::sad:

?

 

Really? http://www.consumeractiongroup.co.uk/forum/log-book-loans-bills/163251-log-book-loans.html#post1752518

[IS IT ME?]

So any help would be useful, but as I KNOW and YOU should also they read these posts.

Edited December 8, 2009 by IS IT ME?

[caro]

No doubt they do, but so do many of the financial institutions we fight on this site, hence the need for anonymity. If you want private advice though you'd be best to see a solicitor. I know a number of people who post here use a particular solicitor, but some have not had good experiences with them, so it may be best to do some research if you haven't got one already. This site works by sharing information so everyone can benefit. Like most people on this site I don't give advice privately.

 

If you are interested in my gut reaction, without the benefit of further information, and I don't think I'm giving too much away, if LBL haven't responded to your claim I suggest that you seek judgement by default.

[ffranccc]

Hi guys,

 

Don't you think that the £12 charges for phone calls, text messages and reminder letter on weekly basis is inadequate?

A reminder letter should be on monthly basis (£12) or the cost shared over the weekly.

Also their telephone call and text message are beyond our control and during a week you receive more than 4 call and charged for.

That's rediculous......

Meanwhile, can some one tell me how they managed to claim back their money (Charges after after end of agreement)

 

Thanks

[caro]

Unfair charges of any kind are reclaimable in there entirety, whether from banks, credit cards or LBL. I suggest you read the FAQ's which although geared towards banks, apply to any organisation. The Consumer Forums - FAQ's - updated to reflect the OFT court judgment-

 

I suggest you start your own thread when you're ready to record your story and progress, and post any questions you may have.

[IS IT ME?]

What has happen to the OFT case any one know? as they is nothing on the site to say they are even looking into them.

Edited December 8, 2009 by IS IT ME?