Logbook Loans And Your Insurance- Beware

[Nicky Bodmin]

Yes probably but with all the claims that we would put forward all those car break in all those stolen possessions and car theft and accidents do you not think in a very short period of time they would become insurable lol

[caro]

Are we completely sure that the policyholder has to be the owner? Could it be that the reason for bully's car not being covered was the change in "ownership". I seem to think I've answered questions like am I the registered keeper of the car, which I don't believe is the same as being the owner.

 

I found this on an insurance website.

 

 

The most basic legal requirement of any existing insurance policy is that the details given by the policyholder are correct. If they change during the existence of the policy, the insurance company must be informed. Without this, the contract becomes null and void and any claim will not be upheld. By law, within the UK, it is a legal requirement for every car to have at least a ‘third-party’ insurance policy; it is illegal to drive without it. This ensures that the driver is insured against any injuries to other people, or damage to property.

 

[bullyuk]

Morning caro.....you are absolutely right. I have just come back from solicitors and the courts to put an application in to adjurn my court case with logbook loans next thursday.

The solicitor said exactly the same thing. The BILL OF SALE does alter the legal ownership of the vehicle in the eyes of the law and insurance companies are very funny about this shady piece of law.

Now according to my insurance company after just coming of the phone they said the loan company MUST by law advise you to inform insurers of any change of ownership/registered keeper immediately BUT due to the nature of the loan and the company logbook loans my insurers at the time SWIFTCOVER would NOT insure me even with the information of ownership/registered keeper change.

Its a very very tricky situation.

As I said I am meant to be in court next thursday fighting logbook loans and i have today had to pay 75 to file an n244 to try to adjourn the hearing. I have asked for more time to look into this legal matter concerning the insurance.

Any help/guidance would be very much appreciated.

Bullyuk

[caro]

Is this issue part of the court case? It's hard to advise without having more info on what you need to know about so please post more details if you need help. I assume it's you taking LBL to court.

 

If you have a solicitor on board though do you need CAG help too?

[bullyuk]

Evening.....no they are taking me.......short story.....i took loan on my car from a guy who came to see me after i called logbook loans......after i took loan he called 2 days later to say he had been sacked as he only had a franchise with logbook loans. this was last year and thats when things got sticky.

after lots and lots of problems with him sending 3 sets of guys to collect car and me hiding car and telling him to get me into court to resolve this he finally did and that is what next thursday is for.

my defence against him is that the credit agreement is incorrect. i am advised that the credit agreement is a legal document and must be word perfect. on his he stated that his company is called HEWGOLD LTD T/A LOGBOOK LOANS LTD which is not the case as he only had a franchise with logbook loans ltd. his real company name as listed on his consumer credit licence in HEWGOLD LTD T/A LOGBOOK LOANS.

It is a small matter of a few letters but i am advised from CAB that it is legally incorrect and makes the credit agrement invalid. |If that is invalid then he had no right sending guys to my home to collect car.

The insurance side is just another part I hope to use in court to show that these companies are giving loans illegally and then bullying people to get money back.

Bullyuk

[seekeroftruthandjustice]

bullyuk

Did you make any payments / make an offer of payment / try to reach an amicably acceptable agreement?

 

Is there a clause within your Bill of Sale (I have seen many) suggesting you notify your insurers of LBL's interest in the car?

 

STJ

[bullyuk]

Evening.....yes i did make a few payments.....we did communicate a few times but when i said i wanted confirmation from logbook loans whom i originally contacted as i was not happy with someone who had a franchise but then got sacked having control of my loan thins got a bit messy.....he sent guys around and so on.

i have read through the bill of sale a few times and cant see anything at all concerning insurance

bullyuk

[bullyuk]

the exact wording on the bill of sale says......"that he will during the continuance of the security at all times keep the vehicle comprehensively insured with a reputable insurance company and will pay all premums necessary for effecting and keeping up such insurance and will on demand produce and deliver to the lender the policy or policies of such insurance and the receipt for every such payment"

they actively tell you you have to keep the insurance payments up but do not mention you have to contact them or your insurance is invalid if you dont.

Bullyuk

[bullyuk]

i received an e-mail from the guy who is taking me to court and apart from some forceful wording he said he would not agree to delayng the court case as he did not see what a minor matter of insurance has to do with the court case.

i told him i did not need his permission to try to adjourn the courts and today went into court and paid 75 and filed a n244 form and am in court next wednesday to get more time to seek the lawfulness of the insurance problems..

bullyuk

[bullyuk]

forgot to say my main defence to the case against this guy is the wording on the credit agreement.....i have heard that this is not enough BUT according to legal advice received last week at the very least the name of the credit agreement MUST match the name on the bill of sale. it does not asb on the credit agreement he has as indicated before HEWGOLD LTD T/A LOGBOOK LOANS LTD and on the bill of sale its HEWGOLD LTD T/A LOGBOOK LOANS which is the exact working on his consumer credit licence.

bullyuk

[bullyuk]

evening again.....i have just read that logbook loans have had their licence revoked.....what does this mean......???? does it effect companies that had a frnachise with logbook loans????

jesus these companies are ****.....complete bullys.....the 2nd guy that came to my house to get my car got a shock when he came back after speaking to my wife in the morning and threatening to come back and get it later that day......when i opened the door he crapped himself ..... im a pretty decent size and just told him to clear off....mnaybe a little stronger than that if i recall but i think you know that.....

i am looking forward to getting into court but really need to get everythng together and be ready....

bullyuk

[caro]

So is it LBL or Hewgold taking you to court?

 

What are the Particulars of Claim?

[bullyuk]

hewgold ltd t/a logbook loans (exact wording)taking me to court and particulars of claim are

"mr ******* took a loan out with Hewgold Ltd on the 4th April 2008. This loan ref ********* was due to finish on 15th May 2009. There is an outstanding balance on the loan of £******"

 

And thats it. His name is not even the same as on the credit agreement or his consumer credit licence. His company name is HEWGOLD LTD T/A LOGBOOK LOANS.

 

Cheers

Bullyuk

[bullyuk]

morning all....especially applecart.....you have helped so much with me getting the facts right ready for my court case which is scheduled for next thursday in brighton county court.....i have applied to adjourn to look into the insurance side as it effected me to the point my nsurance was cancelled on me......

BUT main reason for writing is trhat I have had contact with the ex franchisee that is taking me to court next week.

he has offered me to just pay b ack the 4000 i borrowed and we both leave matters . i have already paid over 2500 so that would mean another 1500 to clear the matter...

after thinking about it and spoeaking to my wife I dont think i will accept.....my intention has always been to make sure i repaid the 4000 as i never started this to not pay it but only the 4000 and not the interest.

the reason i am not accepting is because if i do then my case never gets to court and then its forgotten.

need an outside opinion......what do you think????

have a good afternoon all.

Bulyuk

[bullyuk]

sorry

[caro]

No probs. Just easier for those helping, and also for those in similar situations looking for a way forward, to follow your progress.

 

Posts moved.

[tbuyer]

 

I SAY CHALLENGE THEM. ASKING WHAT IN THEIR EYES MAKES THE LBL COMPANY THE LEGAL OWNERS OF THE CAR.

Then come back and tell the outcome

 

I have started dealings wit LBL, and just had a similar phone call re. insurance - I am not covered, as i am not now the legal owner... (Also Swiftcover!)

Apparently, As soon as you sign the Bill of Sale, then LBL are the legal owners!

Apparently. So I need to find new insurance, stating that LBL are the owners and we need to be both jointly covered.

I dont see why I have to insure LBL to be able to drive the vehicle.

[caro]

I have started dealings wit LBL, and just had a similar phone call re. insurance - I am not covered, as i am not now the legal owner... (Also Swiftcover!)

Apparently, As soon as you sign the Bill of Sale, then LBL are the legal owners!

Apparently. So I need to find new insurance, stating that LBL are the owners and we need to be both jointly covered.

I dont see why I have to insure LBL to be able to drive the vehicle.

 

Who has said LBL need to be covered? Assuming that it's not going to be a named driver and you have no details of previous accidents etc, that is likely to be extremely expensive if it's correct.

[jksully]

Can I ask, did you cease payments once you found out the basis for your defence?

 

If it was a banger/throw away motor, I would rack up a good few grands worth of parking tickets and burn out the flashes of my local GATSO, then gladly hand him the keys lol.

 

Boils my **** reading about the insurance company using T&C's and small print bull**** to wriggle out of a service we are being bent over (minus K-Y) for..