log book loans charges

[tiller1000]

Hi.

My first time here, and i have already found loads of useful information.

I have just paid off my log book loan. yipee. But ....................... they have informed me that i still owe them £800 for letters and phone calls as i was late with payments. Although it was paid off in the correct time. I have to pay, or come to an arrangement for repayment or they will take the car.

I really want to fight this as it seems so unfair and unreasonable. i borrowed £1500 and have paid back over4k in 18 months. i think this is enough.

How can i fight this or shall i pay and then try to claim it back ?

 

J.

[cctv engineer]

the first thing to do is hide the car. they have asked you for £800 ....... tomorrow it will be alot more. all they want is your car. see a solicitor as soon as you can. and do what i did which was call into your local police station and ask them to make a report. to which they will give you a incident number. my problem is i bought a car that has a logbook loan on it but never shown up on ip check. it had £300 outstanding they are taking me to court for over £5000. your late payment charge will now be classed as default and they would rarther have the car. this fight will take you months so hide the car or block it in.

 

if everyone turned up at a court case as witnesses and the papers got involved lbl would have a good fight on there hands and it would also alert this country to one of its biggest fraud companys lbl.

also if everyone reported this company to Home | SFO - Serious Fraud Office then the goverment has to investergate.

[trooper68]

Hi buddy

 

Its how these guys work, you will need to complain to LBL first, ask them for a complete brake down of charges and intrest rate (this throws a spanner in the works, cos they only have a screen dump) They need to show you how they worked out the charges I.E 1 letter = £50,000,000 at 1500% intrest. date sent-(if it was sent by recorded mail) reg number..

 

At the same time complain to the OFT or FO, they will let them (lbl) do thier internal complaint first..8 weeks-ish-explain that you have charges added to the account you consider is high.

 

Now here's the kicker-LBL don't follow the rules-but they are under the spot light at this time-so do as suggested HIDE the car, they will follow you and take it while you are shopping...

 

trooper68