LBL want to visit me at home

[summer266]

Hi, I could really do with some help on this matter. After having to attend court for repossesion of my house, I took out a loan with LBL to make a payment I couldnt meet and to make sure I had the following months payment.

 

Having made payments from March 2010 until October 2010, I lost the agency work I had and have been unable to make the payments. I now have a new job and want to get the payments sorted out. lbl have asked to come to my house to see me (the car isnt here) I said ok and agreed to an appoinment next week when I will be off work but they have since called me back and said they need written permission to visit me and could i send them a text to say its ok for them to come round. I just want to check this is ok and I'm not agreeing to something I dont know about. I just want to get this money paid off without the car being taken and not get myself into anymore bother, I owe it, so I intend to pay it, they have said they will set up a new payment plan, does this sound ok

 

I'm not sure if my BOS is valid as I explained to the agent that the car isnt mine and belongs to my son even though the logbook is in my name, my car is a wreck and isnt worth anything, the agent said that was fine as long as the logbook was in my name, they needed to see that the car was insured, I showed my sons certificate and the details were recorded on the BOS

 

any help appreciated.........Summer

[pdf]

I think that an invite is needed for anyone to sign a loan with you unless you're in their offices.

[summer266]

thanks for the response, I was wandering if I would be agreeing to something like that, I just want to sort out a payment plan, which is what they have said they are coming to do, I dont want another loan with them

[pdf]

Perhaps it's the same for a payment plan then. I think the rules are to stop people from surprising you by just turning up and asking you to sign stuff (like double glazing salesmen used to do)

[Hip_Hop]

I smell a rat, something is not quite right?

 

No Payment to LBL since Last October and the vehicle hasn't been seized is not how LBL work?

 

Have you had any default notices or termination notices?

 

Personally I would ask LBL to communicate in written form only. A personal visit by LBL is not required if they have a valid BOS and loan agreement? They can and do act on this if you have defaulted and valid default notices have been issued. If they haven't there is a reason why they haven't.

 

I repeat, they don't need to personally visit unless they want you to sign something or to commit to something by making an undertaking that requires your signature. If they haven't taken any action previously than I seriously suggest that you post ASAP your agreement and the Bill of Sale on here with your personal details removed for others to peruse and advise accordingly.

 

Generally, if the Log Book is in your name, you were the possessor at the time the loan was applied for, then provided you had photo ID and confirmation of address, and the insurance certificate had matching address at the time that the Loan was taken out then, than the BOS should be valid, provided it has been registered properly in the High Court.

 

Whether your son was/is the owner at the time, is neither here nor there as a valid registered Bos transferred possession rights to LBL and usually the vehicle can be seized if there have been missed payments,and valid default notices have been served as detailed in the BOS.

 

If they haven't and you don't mention they have, then something is definitely smelling very fishy. In the first instance post the documentation for other Caggers to peruse. 2ndly I would cancel the appointment and ask them to put any offer/payment plan in writing.

 

LBL don't hold back 4 months to seize vehicles after defaulting unless something in their paperwork is amiss. It is not their modus operandi.

 

I speak from personal experience

 

They are not understandable to people's financial plights. They are in the business of exploiting those in financial hardship and think nothing of seizing cars after just 3 missed weekly repayments!

 

If they haven't acted in your case, then there is a very strong reason for their inaction and it won't be because they care about your loss of agency work, it will be for other reasons. Remember this is the same business that the OFT are determined to revoke their credit licence for the way they operate. They are only operating under appeal until July when their appeal trial is due to take place.

 

If they want to vist it is either because they want something or want to change something. They can't offer new loans in your home, as they can only operate on premises with a credit licence and your home, I assume does not have one?

 

With respect, post as much as possible of your agreement and BOS with LBL. (personal details removed first) and the CAG will assist you. It would be advisable to pass any offer by the CAG prior to committing as forewarned is always better than looking for solutions after.

 

As always, this is just my personal opine given with the usual caveats. But please read as much as you can on LBL on the CAG, as there is much to learn about the way this business operates.

 

The cause for concern that I give rise to is made with justification. It is amply demonstrated by the victims of Log Book Loans practices, that have posted on here previously. They explain the difficulties that have been orchestrated by this business in its dealings with those who have fallen in arrears with their repayments.

Edited February 14, 2011 by Hip_Hop

[summer266]

I've been reading the posts on lbl for a week or so and no one had mentioned that they had been visited, I had the usaul letters from lbl so i assume they are within their rights to take the car, the car isnt at my house, it never has been and the insurance my son has on it has always been from his address not mine, when he was a new driver the car logbook was put in my name so i could insure him as a named driver on my insurance but that was for the first 12 months then he insured it himself so he could get his own no claims bonus.

 

I have attached the paperwork I have for the loan, hopefully it's come through oksummer266_lbl0001.pdf

[Surfer01]

I think that what they will be proposing is to consolidate the old loan and to start a new one with new paperwork. This may mean added interst and charges etc

[Hip_Hop]

The pdf attachment is fine.

It appears the paperwork is fine IMHO.

 

LBL would normally invoke the BOS after 21 days to seize, the fact they haven't is very telling and should raise your curiosity and many on this forum.

 

Have you received any default notices/termination letters?

 

I wouldn't invite them on to your property. They can and must only correspond with you in written form.

 

Don't permit them to meet on your property under any circumstances. Who knows what their motives are? A fishing expedition to establish where the car is?

If you must meet, make it off property.

 

As you rightly point out, no one posts on the CAG that LBL have asked them to be personally invited via text etc So withdraw any invite if you have already given permission for them to visit you.

 

If you can fill any gaps in, in regards to default notice etc it would help those in the know to offer advice etc.

 

In any event, your son needs to make absolutely sure he keeps the car away from where you live, as LBL's agents will be looking for it.

 

Keep us posted.

Edited February 15, 2011 by Hip_Hop
typo

[Hip_Hop]

I think that what they will be proposing is to consolidate the old loan and to start a new one with new paperwork. This may mean added interst and charges etc

I don't believe they can do loans in the home, it has to be on premises with a credit licence?

[Surfer01]

I don't believe they can do loans in the home, it has to be on premises with a credit licence?

They probably can do the application at a residence which is the same as applying for a loan over the Internet. Loan sharks do loans at a residence adn this is legal although their practices are questionable.

[Hip_Hop]

They probably can do the application at a residence which is the same as applying for a loan over the Internet. Loan sharks do loans at a residence adn this is legal although their practices are questionable.

I'm only referring to Nine Regions Ltd t/a Log Book Loans. Which is why I am so dubious about their need to meet this poster at her home address.

I wasn't aware that they had a credit licence that enabled them to offer credit off site? If they have, that would be a departure to how they usually conduct their business and therefore their need to make home visits would be less of a concern?

 

Maybe someone in the know could give a formal opinion on whether LBL are able to offer an off credit licence premises service?

Edited February 15, 2011 by Hip_Hop

[summer266]

Thank you all for the responses, I think I'll cancel the visit, I'm happy to go to their office. I did get the default notice and a load more letters and a couple of emails. I am curious about the offer to visit me but I cant see why they need to come to my house. I just want to arrange to pay them, I had hoped they would agree terms on the phone, take an initial payment and confirm this in writing, it's not looking good

[Hip_Hop]

Thank you all for the responses, I think I'll cancel the visit, I'm happy to go to their office. I did get the default notice and a load more letters and a couple of emails. I am curious about the offer to visit me but I cant see why they need to come to my house. I just want to arrange to pay them, I had hoped they would agree terms on the phone, take an initial payment and confirm this in writing, it's not looking good

I think in the circumstances it would be wise to cancel the home visit. No doubt, they will arrange to meet you on a premises that has a credit licence, if they are looking to offer a fresh agreement?

 

Places like The Money Shop and Cash Converters etc, are the usual venues, as they have existing credit licences operating and keep Log Book Loans overheads to a minimum.

 

You will have substantial additional charges added to your existing loan arrangement as I am sure you will already know.

 

In the first instance see what they offer as a solution going forward. Everyone appreciates that LBL are a lender of last resort and given a choice most would opt not to use them but needs must, as the saying goes. Please consider your options and if possible, share what is on offer with the CAG, with personal details removed prior to making any decision, as others may be able to advise and assist?

 

Best of luck going forward but as mentioned previously avoid letting them know where the car is. This is paramount if you don't want them to seize the vehicle, sell it at auction than chase you for the residue.

 

I am still unclear why they haven't made more of an attempt to locate the car but obviously you have alluded them, so hopefully that will continue to be the case.....

 

Keep us informed

[summer266]

I think they havent found the car as my oldest son hasnt lived here for sometime so the car has never been here except for when he visits and I've told him not to bring it here at all while this is all going on.

 

I will post an update when I have spoken with them, it's the last thing on my mind when I go to bed and the first thing on my mind when I get up and after 18 months of nearly losing my house and a waste of time husband who walked out (not an excuse but by way of an explanation) leaving me with one income, kids, mortgage without any notice, this is one of my last hurdles to jump. So I'll glady set up a plan just to get some piece of mind.

 

I've read what they do to reposess a car and the thought of that happening to my son, makes me feel ill. I wont let them come to my home and I will post an update as soon as I have one. thanks again for the help and advice.

[Surfer01]

Thank you all for the responses, I think I'll cancel the visit, I'm happy to go to their office. I did get the default notice and a load more letters and a couple of emails. I am curious about the offer to visit me but I cant see why they need to come to my house. I just want to arrange to pay them, I had hoped they would agree terms on the phone, take an initial payment and confirm this in writing, it's not looking good

I think it is a very wise move. For all you know it could be a bailiff entering your home under false pretences to levy..

[summer266]

quick update, have made 2 appointments to meet them elsewhere they agreed but they cancelled one and just didnt show up to the other, so still nothing sorted out

[summer266]

another quick update, still no contact from lbl, they wont return my calls or messages, the last text the agent sent (before missed appoinment) asked me to have ID and insurance details when he arrived, I sent a text explaining that I had my ID but as I explained the car isnt and never was insured to me, when I drove it, I drove it on my fully comp insurance, I reminded him they didnt have any insurance details when the loan was taken out, the agent text back and said try and get the insurance details of the owner but he didnt turn up and now no one will answer my calls or messages, just nothing, still worried, still want to pay back the loan

[Hip_Hop]

Don't panic.

 

There is obviously a problem that they are not letting you in on and their lack of direct seizure action is supporting this? Have they made a direct request to collect the vehicle from your property? The fact that your son has now insured the vehicle in his own name at his property should have no bearing on LBL's position to seize the vehicle.

 

I don't understand what you mean by they won't return your calls. They answer when you call, don't they?

 

You mention above, that you offered the LBL rep, the insurance certificate in your son's name when you took out the loan in your name? I am unsure what if any impacts that has on the Bill of Sale but my gut feeling is they want you to engage in a new loan arrangement as something is amiss with the existing loan? Did the original certificate in your son's name have your address or his different address?

 

As I have mentioned previously, usually LBL would be continually pressing for the car to be seized and offering threatening phone calls from the possession agents for the whereabouts of the car for collection, along with piling on of additional charges, whilst they continue to harangue the borrower for the vehicle. This enables them to add penalty charges in the interim.

If they are not doing this, than something or someone has messed up on their side,and something is stopping them from doing so?

 

Can you advise if you are getting ongoing phone calls and texts from their agents?

[summer266]

Don't panic.

 

There is obviously a problem that they are not letting you in on and their lack of direct seizure action is supporting this? Have they made a direct request to collect the vehicle from your property? The fact that your son has now insured the vehicle in his own name at his property should have no bearing on LBL's position to seize the vehicle.

 

I don't understand what you mean by they won't return your calls. They answer when you call, don't they?

 

You mention above, that you offered the LBL rep, the insurance certificate in your son's name when you took out the loan in your name? I am unsure what if any impacts that has on the Bill of Sale but my gut feeling is they want you to engage in a new loan arrangement as something is amiss with the existing loan? Did the original certificate in your son's name have your address or his different address?

 

As I have mentioned previously, usually LBL would be continually pressing for the car to be seized and offering threatening phone calls from the possession agents for the whereabouts of the car for collection, along with piling on of additional charges, whilst they continue to harangue the borrower for the vehicle. This enables them to add penalty charges in the interim.

If they are not doing this, than something or someone has messed up on their side,and something is stopping them from doing so?

 

Can you advise if you are getting ongoing phone calls and texts from their agents?

 

The agent that wanted to come to the house (I arranged the meeting elsewhere but he didnt turn up) said a number of times, they dont want the car, they want me to be able to keep the car and be able to mange the payments and pay the least interest possible, even hopefully lower my payments, so no, no requests for the car.

 

The car was only insured for a short time in my name when the car was purchased 4 years ago, it has been insured in my sons name for years and still was at the time of the loan, we didnt change the logbook cause we didnt want to add more keepers to the logbook.

 

The number Ive been calling (lbl collections) rings for a bit and goes on to a voicemail thing and then the woman would ring me back, I was also given the agents direct mobile, they wont answer any of my calls to these numbers or my texts anymore but before they would call me straight back.

 

We could find the insurance certificate when we took out the loan but lbl said it was ok if the insurance company would fax confirmation that the car was insured, which the insurance company did, my son had to authorise this from where he was as he wasnt with me when the loan was taken out.

 

There was no address on the details only the reference number and my sons name, I'm pretty sure even my current certificate doesnt have my address on, the policy details contain my address but not the certificate (I must check)

 

lbl were happy with that as i had expalined that i didnt own the car, although the logbook was in my name.

 

I havent had any letters, texts, calls nothing, since i left my last update but i have been calling them, should i call the usaul lbl number rather than the agent that was coming to see me or the collections department ive been calling

 

I'm not sure I'm explaining this very well

 

they've never had my sons address only my address but they did have his name but only on the insurance confirmation from the insurance company, when the agent asked me for it the other day, I explained i cant just get the insurance details as it's not my car or my insruance certificate, he just text me and said I was to try and get it but that was the last text from him and he didnt show for the appointment.

[summer266]

I offered them £300 straight away, then said I would resume my usaul payments if we could then agree a set amount each week on top of the usaul payments to clear the arrears but they just said they needed to see me first and thats when all this started up

[summer266]

if they are doing this to drive me mad, it's working

[summer266]

I'm not sure if this helps but when i took the loan out, I took the paperwork from the original finance company (vauxhall finance) all in my sons name and confirming that the original finance had been settled on the car, the logbook which was in my name, I didnt have the insurance certificate because i didnt know they would want it. I had my drivers licence. while i was in the shop they asked for the insurance certificate, I had already explained on the phone before going to the shop that the car wasnt mine, so they were fine about the certificate but said they wanted confirmation from the insurance company that the car was insured and this was faxed over after i called my son and asked him to contact his insurance company.

 

I cant see what would be a miss, i was honest about the car when i took out the loan

[Hip_Hop]

No requests for the car? And no requests from any repossession agents?

As I keep saying, it just doesn't add up?

 

Fact-Your son's car is the security for the loan. The insurance document is obviously required for any new loan.

 

Personally I don't trust LBL to protect your interests and not just roll up all the charges accrued plus other debatable charges to roll in to another grossly exploitative loan.

So, provided your son doesn't need to sell the car, continue with your life. Whether you are 5 months or 7 months in arrears is neither here nor there in the whole scheme of things,. What is telling is that they are holding back and that is because there is a reason that is not apparent from your postings as to why that is.

.Whatever you do, don't change the log book as that would trigger their repossession agents in turning up at any new address to seize the car irrespective of their claim that they are not interested.. You have tried to make contact and they have failed to react for a reason. Usually it's because they are not looking for settlement but to simply take the car and auction it as fast as possible.

As I repeatedly say...There is a reason why this has not happened, which doesn't make any sense, whatsoever.

 

Maybe others can offer a rationale, but I am at a loss as to why this is.

[summer266]

Thank you anyway hip hop

[summer266]

I called the number off the payment book for lbl and explained the whole scenario to the woman who answered the phone, she put me through to repossessions and i explained the whole thing again, and asked why the collections department and the agent who was coming out were not returning my calls or texts, she said the agent i had been contacting was a third party looking to re do the loan but since I was now saying i didnt own the car, they couldnt do it. I said, no, that isnt how it went, I explained that i told lbl from the start that the car wasnt mine bla bla bla (I went through the whole thing again, insurance certificate etc etc)

 

The lady on the phone, to be fair was ok, she said that was the reason the thrid party couldnt go ahead but she was happy to set up a new payment agreement, which I have done, she said if i stick to that, there will be no further action, I asked if i could have that in writing and she said yes, along with the new payment agreement.

 

And that was it, sounds a bit to easy