Log Book Loans - Can anyone help???

[nellie75]

Hi Nelly glad to see your thread back!!!

 

How you doing honey?

 

Had a bog off letter myself from LBL myself which was of course expected. It stated basically that it was all my fault and that if I'd adhered to their terms and conditions and acted responsibly I would not have incurred any charges etc... I was only a month late clearing it mind!!!

Haven't yet submitted the court claim but that will be done in the next week!!

 

Really good news about your number plate, I'm really glad you stuck in there:D

 

Take care

Boo

 

Hey Boo!!

 

Great to hear from you, yes I am back!! I tried to PM you but your inbox was full and it wouldn't let me

 

No suprises regarding your bog off letter. Of course its all your fault you want nothing more than them on your back - NOT!!!

 

Great you are submitting your claim - you go girl

 

As you can see my saga is still ongoing but i am on a mission now!!

 

hugs

 

Nellie xxxxxxxxxxx

[mart2k6]

I took out a loan with logbook loans about 5mths ago which secures the loan against the value of your car

 

I got a paying in book where i went to the bank each week and paid £30 and everything was going ok

 

I then became unemployed as I was doing agency work and was struggling to pay the £30 so I rang them and they said no problems we can drop the payments to £15 for 6 weeks to help you out and you can pay a little bit extra to pay off your arrears after the 6 weeks have passed and hopefully are back in work , which at the time sounded ok.

 

Then the trouble started ....

 

The 1st week i paid £15 i received a letter 3 days later stating that my account was in arrears and they had charged me £20 for sending the letter. With this i rang them again and said that nobody mentioned £20 and i was keeping to my side of the agreement , to which i was told dont worry about it , thats just the computer printing off a default letter and i havent been charged anything.

 

I was a little wary but decided ok if theres no arrears i havent got anything to complain about so left it. I started to receive these letters more frequent over the next few weeks but still kept in touch with them checking I wasnt being charged for the letters and wasnt in arrears, which they explained nothing to worry about at all.

 

This week had numerous missed calls on my phone by them and this morning received a letter stating

 

As you have failed to comply with the default Notice, we are confirming that the Agreement has been terminated as of 10th October 2006 and that the payment of the outstanding sum of £xx.xx is immediatley required.

 

Obviously rang them straight away , after explaining all the above he replied well no problem at all if you can pay normal payment this week , then you are goin to have to double your payments from next week. This is to pay the arrears off which include around 8 lots of £20 for the letters. I said no way am i goin to pay for the letters which he replied when the accounts completely paid up i can claim the letter charges back.

 

My question now being if they have stated the contract is terminated but over the phone say oh we can just pick up where we left off is that legal , and secondly why should i have to pay arrears which i dont technically owe

 

Any help on this confusing matter would be greatly appreciated

 

Thanks

[mart2k6]

I took out a loan with logbook loans about 5mths ago which secures the loan against the value of your car

 

I got a paying in book where i went to the bank each week and paid £30 and everything was going ok

 

I then became unemployed as I was doing agency work and was struggling to pay the £30 so I rang them and they said no problems we can drop the payments to £15 for 6 weeks to help you out and you can pay a little bit extra to pay off your arrears after the 6 weeks have passed and hopefully are back in work , which at the time sounded ok.

 

Then the trouble started ....

 

The 1st week i paid £15 i received a letter 3 days later stating that my account was in arrears and they had charged me £20 for sending the letter. With this i rang them again and said that nobody mentioned £20 and i was keeping to my side of the agreement , to which i was told dont worry about it , thats just the computer printing off a default letter and i havent been charged anything.

 

I was a little wary but decided ok if theres no arrears i havent got anything to complain about so left it. I started to receive these letters more frequent over the next few weeks but still kept in touch with them checking I wasnt being charged for the letters and wasnt in arrears, which they explained nothing to worry about at all.

 

This week had numerous missed calls on my phone by them and this morning received a letter stating

 

As you have failed to comply with the default Notice, we are confirming that the Agreement has been terminated as of 10th October 2006 and that the payment of the outstanding sum of £xx.xx is immediatley required.

 

Obviously rang them straight away , after explaining all the above he replied well no problem at all if you can pay normal payment this week , then you are goin to have to double your payments from next week. This is to pay the arrears off which include around 8 lots of £20 for the letters. I said no way am i goin to pay for the letters which he replied when the accounts completely paid up i can claim the letter charges back.

 

My question now being if they have stated the contract is terminated but over the phone say oh we can just pick up where we left off is that legal , and secondly why should i have to pay arrears which i dont technically owe

 

Any help on this confusing matter would be greatly appreciated

 

Thanks

[Rob S]

Hopefully you have made a note of the times and days you have phoned and who you have spoken to, as that will be a great help to you.

[mart2k6]

Received a letter from them this morning say i had agreed tp dpuble the payments

 

No chance didnt even mention upping the payments

 

Where does the letter they wrote claiming they had terminated the agreement leave me if now they are saying im right and i havent missed a payment

[Boobaby]

Then the trouble started ....

 

 

My question now being if they have stated the contract is terminated but over the phone say oh we can just pick up where we left off is that legal , and secondly why should i have to pay arrears which i dont technically owe

 

Any help on this confusing matter would be greatly appreciated

 

Thanks

 

To be perfectly honest I think everyone would be in a difficult position to advise you on this Company as they are a law unto themselves!!! It seems the right hand doesn't know what the left hand is doing so to speak. My advice to you to is to ensure you get everything you have agreed with them in writing. Write to them yourself stating the date, content and agreement of all your phone calls also remind them of the agreement regarding the non charge for letters and/or phone calls and ask them for confirmation as to their agreement of all of this. It isn't legal to cancel the contract one minute and reinstate it the next!!! This is why you need confirmation that it has not been camcelled etc.... Do keep paying though and write to them immediately as they can be a particularly difficult company when it comes to payments and will not hesitate in taking your car.

Hope this has helped I am sure there will be other advice following!!

[mart2k6]

They tough people to fight as its a case of we know we agreed that but now we are changing the agreement , and if you dont like it we will stick a few £100 of charges on

 

Surely if i have it in writing they have terminated the agreement then thats that and i can take them to court to prove i didnt default and that makes the agreement null and void

[Boobaby]

They tough people to fight as its a case of we know we agreed that but now we are changing the agreement , and if you dont like it we will stick a few £100 of charges on

 

Surely if i have it in writing they have terminated the agreement then thats that and i can take them to court to prove i didnt default and that makes the agreement null and void

 

I would have thought so, but you will need to take legal advice - my opinion is just that, my opinion, can I therefore suggest you speak to a professional. They will obviously be able to advise you correctly.

Hope that's okay

Boo

[mart2k6]

My problem is contacted most solicitors in this area and they wont touch it because the debt is only £1500

[bakedalasker]

Mart2k6,

 

Keep track of your payments to the "loan". Keep oncourse with those and see it through.

 

Make a note of the charges they are applying but do not pay them. If you keep track of your "loan" payments then when you do your final payment then amount left should be the "charges".

 

Do not pay this "charges" bill. If you do then you will have to go through the rigmoral of claiming them back.

 

If they chase you for the "charges" after the loan is complete then you are in a stronger position. Possession is 9/10 of the law, let them do the hard work.

 

If it gets that far then the right solicitor should do the trick.

 

Just keep on track with your "loan" payments.

[Sean W]

Hello,

I have had two loans from logbook loans, the second of which i am just about to clear. Any body who has the misfortune to deal with this company has my sympathy and would like to commend you Nellie in helping to make people aware of the dangers of getting involved with this company. I would seriously like to see this company on watchdog or Rogue Traders.

This company preys on Vulnerable people. I work as a Police Officer now and have managed to put a serious cahpter of my life which involved these rogues behind me. First off in my line of work i can now idenify Vulnerable, desparate people and as we all know there is absoloutely no way that any of us would have got involved with this company had we not been desperate.

When people are desperate and vulnerable all rational thought process go out the window and people convince themselves they can get away with things or do things that in reality they would not normally do, in some cases it would be break the law, in our case because of whatever the situation we kidd ourselves into believing we may be able to afford something that we cannot. The sales people from this company can almost smell this and pounce on it. I can recall sitting in the back office of Cash converter and saying to the Salesman " SO WITH ALL THE REPAYMENTS, HOW MUCH DOES IT WORK OUT TO BE PAYED BACK IN TOTAL?" The reply i got was "ITS BETTER NOT TO LOOK AT IT LIKE THAT, JUST LOOK AT THE FACT THAT YOU CAN AFFORD THE PAYMENT EACH MONTH" I am not saying that had he told me that i was paying back £1300 for a £400 loan i would not have had it, but he was not even prepared to take that chance.

After a while i came into difficulties with this company and i was being charged at the famous Twenty per letter and being hassled left right and center, work actually came to my rescue and gave me a loan to pay off my debts and took the money directly out of wages. A short time later again i became desperate as i needed the money ASAP and landed in trhe same situation. When i phoned they told me i was A GOOD CUSTOMER of theirs, i took another desperate loan with them.

About four months ago i admitted that i had a problem with gambling and this was one of the reasons why i had turned to this company,cause i gambled all my money away and needed to make other urgent payments.

I have not had a bet for four months and it is only since i have stopped that i can see how this company took advantage of my need for urgent cash. I am extremely lucky to have a supportive family who have helped me.

There is absoloutely no sort of half way with this comoany and if you are struggling they will not help you in anyway they will just add the pressure on and that in many cases can finish people who are backed into a corner, they seem to operate by their own rules and they need to be investigated.

I will be the first to admit that i am Mug for getting involved with these people and that it is my own fault, all the relevant info was probably there in balck and white for me to read, but the fact remains how is company allowed to get away with charging extotionate rates? Who controls this? The treatment they dish out when you miss a payment? Whats all that about? They phoned my house phone that often that my parents asked them to remove the number from their records and just contact me via my mobile, you would think that would be fair enough as it is there number not mine,but they refused for weeks and had to be threatened with harrassnet before they backed off slightly.

I hope my experience can be of some help.

Good luck Nellie.

 

Many Thanks

 

Sean W

[Guest sihum]

Thankyou for posting this Sean.

[JonCris]

My problem is contacted most solicitors in this area and they wont touch it because the debt is only £1500

 

What area & are you on benefits?

[mart2k6]

Hi

 

In Lancashire area and yes we are on benefits

[baconbuttyman]

hi i dont understand why thhe loans are unenforcable, i dont have one my self but a guy i know id being harrassed by them, they clamped his car, we cut it off and left it, returned later when the clamper came back in my car and watched his face..lol

so i would appreciate some info, if i have overlooked it then i am sorry, but i would like to help my mate out

[baconbuttyman]

i have been reading up about this basically what is a loan shark company, have you tried informing Martin lewis about this company, he is a very powerful guy in the consumer world,...just an idea

[mart2k6]

Basically i asked them to cut my payments while i was struggling a little

 

They said no , and dont forget loans secured on your car so if you default we will take it whenever we like

 

Sounds a real nice company

[baconbuttyman]

Basically i asked them to cut my payments while i was struggling a little

 

They said no , and dont forget loans secured on your car so if you default we will take it whenever we like

 

Sounds a real nice company

 

its about time they had their own thread on the main page, have they charged any one penalty charges, my m8 is out so i cannot ask him!!

[v_j_r]

I started the original thread in the main group in June, and before that in 1998/9-2004 elsewhere and as stated i am the only person here who has actually brought these people to book in fact I'm likely to be the only one who has ever succeeded to date, i'm also since 2004 technically still under a confidentiality agreement.

 

I haven't posted any evidence i have as yet as this section needs more people before I'm prepared to to that or fore-go any agreement i have!.

[mart2k6]

Mate if you can help pm me as i really need help with them pls

 

Thanks

[v_j_r]

Mate if you can help pm me as i really need help with them pls

 

Thanks

 

 

@mart2k6:

 

If any advice is given it has to be in an open forum/thread and not via pm, sorry but have been advised by moderators etc this is also for your own protection and mine also.

 

 

Regards.

[v_j_r]

I can tell you now that all loans via Lbl ltd secured against a vehicle from 1998/9-2004 were unenforceable by law!.:o

 

Hence they were also void and regarded as that they should never have been made,nobody listened then until now hence they are still around and although they maybe legal in terms of a sub-prime lender there are some things they'd prefer you didn't know!.

 

Think about the implications if they weren't so squeaky clean now if at all.

 

Regards.

[mart2k6]

So basically in a nut shell if we had a loan take out before 2004 we would be able to act , but as the loan was taken out 5months ago theres nothing much we can do :-(

[v_j_r]

So basically in a nut shell if we had a loan take out before 2004 we would be able to act , but as the loan was taken out months ago theres nothing much we can do :-(

 

@mart2k6:

 

There's plenty you can do if you think they are acting unlawful in your case? and remember some people are still under purported agreements from 2004 They just haven't turned up here yet.

 

As a general rule it would be bad practice and potentially unlawful in accordance with CCA (Consumer Credit Act) to terminate an agreement early unless there are substantial arrears and or non-payment, which as a rule is at least 3 clear months in arrears or other.

 

In the above scenario token payments are a good way to avoid the general rule as it shows goodwill, you are also entitled by law to a 1hr session of legal advice most if not all solicitors operate some kind of scheme to enable this for you failing that community legal advice centres are the other option and so is any legal cover you may not knowingly have on household or other insurance!.

[mart2k6]

Hi

 

Tried ringing around various solicitors and they dont wanna know because the debt is only £1500

 

We obviously offered them what we could afford which was £15 per week until we were back on our feet , which they declined and have now said unless we more or less double payments £50 per week then they are coming for the car without warning.

 

I dont want to lose my car but am more or less resigned to it at the moment.

They are bullys and think they are above the law

 

I have like i said earlier , got it in writing that they cancelled the agreement on the 10th October 2006, dont know if this means its cancelled or they can go back on their word and start demanding such high repayments.

 

Thanks