Logbook loans have lost their final appeal they are officiallly gone

[Nicky Bodmin]

hi yeh tell me bout it I never had a loan with them but they still tiook my car. Someone stole my V5 and put a loan on it. Maybe we all should start stealing things that dont belong to us they seem to get away with it.

 

I was one of OFT witnesses and they have not given as much as a pointer so F..K them I am having a charge put on my house for so0pme one elses debt I have lost to date around 30 grand there is no justise in this **** whole of a country.

 

Even the laws set out for the people are all f..ked up. What the point in having courts and laws if they are twisted to suit the wrong doer

#

[Nicky Bodmin]

What a wate of tax payers money this revoke of licence cause they still come out on top

[caro]

So now we know!!

 

Thanks for contacting the OFT and sharing the email Nicky.

[sillygirl1]

Don't forget things are changing in April when a new Financial regulatory body takes over some of the work the OFT are doing, hopefully they will have teeth rather than bleeding gums....

[Nicky Bodmin]

Hi Guys,

 

Well I emailed the OFT complaining that this has been a total waste of tax payers money. LBL made idiots out of the OFT

 

What is the point in having a governing body that cant enforce the regulations policies that it developed itself.

 

Its a joke. And while their legal team site smugg in their offices living comfortably of their fat pay packets deciding if they

 

got the balls to appeal a judgment that will affect thousands of innocent people that are having their lives destroyed by a

 

company that has no regard for anyone but their own bank balances the general public go unpretected. Where is the

 

justice in that. We are talking about a company that will sttoop so low that they will do anything to get what they want.

 

The OFT have already proven that they have commited a criminal offen by impersononating soliciotr.

 

Words of their own reg. This is punishable up to 2 years in prison if found guilty of such offence which LBL have been.

 

 

I QUOTE

falsely implying or claiming to be a solicitor, or otherwise employed as a legal service provider. 26

 

26 This is a criminal offence under section 17 of the Legal Services Act 2007.

 

Where is the application for charges to be brought under this offence. Sounds as though the OFT have not got the Balls to

 

enforce their own policy . Its seems to me that the consumer needs just as much protection from the OFT as we do LBL.

 

Maybe we could have OFT done in court under sec of

 

 

'Debt collection'

OFT guidance for all businesses engaged in the recovery of consumer credit debts

July 2003 (updated October 2011)

 

3.5 Examples of unfair or improper practices are as follows:

 

a. falsely implying or claiming authority or misrepresenting authority

 

d. misrepresenting status or backing

Because this is what I feel they have done.

I am going to put an offical complaint to the OFT failing in their duty to protect the consumer from harm

I think this is the way forward. Maybe start a campan maybe present it to parliment or our MPs

[mark1711]

Hi i had i phone call from them this morning saying if i dont pay today which i cant untill the 29th they are sending collecters to come for the car so can they still do this with out a court order,

and if i dont give them the car can they call the police because the car is elsewhere now and dont plan to use.

And if they can what aload of ****.

we should all get together and challage them!!!!!!

[mark1711]

challenge

[Nicky Bodmin]

Hi well they seem to do what they want Hide the car. If they call the police let them. If you ask them to leave your premises and they dont ask the police to remove them.

 

What I would advice anyone to do is when they turn up have your phone in your hand recording what they say. But tell them you are recording the conversation for your own protection it makes good evidence if you need it. It could make them be good boys but I doubt it. At least you can prove how you were treated.

 

A baliff no matter who se3nds them has no right of entry over your property without your permission. NO MATTER WHAT THEY THREATEN YOU WITH.

They have no power at all as long as the car it out of the way. Lock it in a garage they by law are not allowed to break locks climb walls or kick the door in.

 

NEVER AND I MEAN NEVER LET THEM IN YOUR HOUSE. They need to gain peaceful entry to your propertyh to do a levi on your goods.

Caqll the police telling them someone is breaking into your house. Dont tell them its baliffs cause they will drag their feet.

When the plod turn up tell them that bbaliffs have no court warrent to take the car and have them removed from your propertyu

Dont listen to any threats they make because they cant threaten you with any thing.

 

I(f you have the meeting recorded and they threaten you to have you arrested for stealing the car then you can go to the courts and do the baliff for that.

 

You can apply to court to have the car placed in the courts hands and request the judge to change the amount the company are seeking each month due to change in ypour circumstances. They cant touch the car then

[Nicky Bodmin]

I want to ask site if we can start a campaigne ourselfs with signaturesand present to all CAGS MP throughout the country and to take to parliment.

 

Can SITE TEAM draft a standard letter that we can all use and adapt outlinning the stuff this company get away with with.

 

O swear by MP presure on companies.

 

All you do is get onto your local MP site and fill out the complaint form and send

 

In around 2 weeks or so you get a House of Commons letter response from them saying what they have done.

 

If we have enoughy complaints going througth local MP country wide it wont take long for the house of commons to see

 

there is a problem and just maybe we can be heard then.

 

What harm can it do. And every offical complaint made through the MP site is responded to direct from that MP with a

 

house of commons letter head and the envelope to is headed.

 

Im sure LBL and like will be shocked at having to keep answering to MP after a complaint.

 

The more we can get through to the MP the better responce will be

[Nicky Bodmin]

Hi Caro

 

We need to start contacting our local MPs for pressure they have always got me out of trouble. Please read my thread below thanks

[Nicky Bodmin]

Can we have this action put up as a sticky what harm can it do. We can put together a letter of complaint covering the basic bad stuff they have done think we need to keep it simple so it can be copy and past it on complaint form

[mark1711]

Thanks Nicky,will contact my local MP tomorrow and thanks again for all your help.

[Nicky Bodmin]

Get the recording because I was assalted by baliffs to get ny car and when it came to standiung up in the court room they suddenly became the squeeky clean company that did the local council repos and the judge told me I was lying So please record it and save onto computer. They hide behind the other companies like the council and lye through their teeth. Record every call to LBL any dealings with any thing to do with them at all Phones are good to do this on

[paul2012uk]

can lbl put two loan agreements in to one my partner had 1 loan then they advised her to get a top up loan to pay the installments ,this was done by text on her phone.( everything done on a mobile phone is still there even if deleted ) bet they dont know that .

both agreements have different numbers one being 97...0 the other being 97...2 .now we have a letter form cc collections stating the first number and the amount outstanding.today they called still stating its logbook loans and that its being handed to repro department .

Edited February 22, 2012 by paul2012uk

[toddle2u]

Not sure if this is old news or not but is certainly good news

 

A secured lender where people use their cars as security has sold off assets after entering administration.

Insolvency News understands a deal was struck for the majority of Log Book Loans – which had its consumer credit licenses revoked – shortly after it fell into administration.

Nine Regions Ltd and Log Book Loans Ltd – both traded as Log Book Loans and went into administration on February 13.

In November 2011, the companies lost their appeals to have their licenses revoked at a tribunal after the Office of Fair Trading (OFT) ruled they were ‘unfit’ to hold them.

At the appeals hearing Log Book Loans admitted thousands of letters had been sent to borrowers in the name of a firm called Adams Spencer & Phillips (ASP) falsely threatening legal action on behalf of Nine Regions.

Gareth Roberts and Paul Ellison of RSM Tenon were appointed administrators for the company.

A buyer is understood to have been lined up in advance, although Insolvency News has been told it was not a pre-pack deal.

Log Book Loans had the power to seize borrowers’ vehicles without going to court and could pursue them for any debt shortfalls after the vehicle had been sold.

But the first-tier tribunal found letters were sent to borrowers giving them a false impression ASP was authorised to undertake legal duties on behalf of Nine Regions.

It discovered ASP had no employees and engaged in ‘deceptive’ practices with Nine Regions employees pretending to be ASP staff as part of a ‘deliberate deceit’ also involving solicitors and the Financial Ombudsman Service.

At the time, David Fisher, OFT’s Consumer Credit Group director said: “Intentionally deceiving debtors as part of a debt collection policy is an extremely serious matter, which calls into question a licensee’s fitness.

“We expect businesses licensed by the OFT to treat all their customers, including those in arrears, fairly and transparently.”

According to Log Book Loans’ website the company provides a genuine ‘regulated and licensed lender of last resort’ service.

The website states ‘but for the lawful and decent service we provide, customers would be forced into the arms of unregulated and unlawful money lenders, with serious and dangerous ramifications’.

Nine Regions’ latest accounts filed until February 23 showed the company made a gross profit of £16,493,721 but also had net assets of -£7,906,493.

According to company records both Nine Regions and Log Book Loans boasted the same directors with their registered addresses in Putney, south-west London.

One director David Barnett is also listed as a director of Log Book Loans (UK) Regions as well as Log Book Card Collections.

Meanwhile, fellow directors James Dawes and Iain Shearer are both listed as directors of Capca Holdings.

[Nicky Bodmin]

Hi

 

So who is handling the administration for them Is there a number we can call about it

[Nicky Bodmin]

hi

 

just found this online

 

http://www.debtwizard.com/news/consumer-issues/900-nine-regions-limited-in-administration-and-sold-to-us-company

[toddle2u]

Gareth Roberts and Paul Ellison of RSM Tenon were appointed administrators for the company. Further details contact: Gareth W Roberts, Email: [email protected], Tel: 0118 9530 350.

 

So who is handling the administration for them Is there a number we can call about it

[paul2012uk]

Gareth Roberts and Paul Ellison of RSM Tenon were appointed administrators for the company. Paul W Ellison Gareth W Roberts

 

 

 

RSM TENON

READING

Telephone: 01189 006 730

[paul2012uk]

got that of insolvency news .com

[andrew1]

Our Mr Shearer used to work for me....how about that? He's actually quite a good guy when you're on the same side as him....not so sure what he'd be like to be on the other side of, but I got on very well - how times and fortunes change..if you're reading Iain, chin up matey. Last I saw you was in a West London car firm credit controlling and be happy to enjoy another glass or three catching up! .....

 

Well done lads and lassies, we don't need bad guys in the credit industry..another one bites the dust.

 

A1

[Dvs]

I am still totally baffled as to what is going on?! It seems that LBL are basically still trading albeit under the guise of a company they have sold the debt to? It seems worse than before but I am not sure I fully understand everything

 

Our Mr Shearer used to work for me....how about that? He's actually quite a good guy when you're on the same side as him....not so sure what he'd be like to be on the other side of, but I got on very well - how times and fortunes change..if you're reading Iain, chin up matey. Last I saw you was in a West London car firm credit controlling and be happy to enjoy another glass or three catching up! .....

 

Well done lads and lassies, we don't need bad guys in the credit industry..another one bites the dust.

 

A1

[andrew1]

I must admit to not really following the story of LBL and all that has gone on. Read quite a few snippets from posters, but don't really know much about them having never indulged in a Log Book Loan.

 

However, knowing Iain Shearer - he was a canny and bright Scot some 20 yrs ago and he always had a rather rye sense of humour which I must admit tickled me a times. I can see his face now. If he was faced with a problem he'd always find a way out, tactical, to his advantage and then he'd smile....whatever he's had going on, he's a cheeky bloke and always was....and you can be sure he's thought his way through this without a single doubt. If you're looking over your left shoulder watching out for him, he'll pass you on the right!

 

My philosophy since coming onto Cag in 2006 was to make companies who use the law against the masses no matter who they are, abide by those rules that govern them too. Most, if you look hard enough just under the surface are breaking laws left right and centre and have got away with it for years. Complacency and laziness creeps in they had their odd complainers, but handled them with ease. The use of the forums has brought people together who would normally never have crossed paths and that is the one thing these financial institutions never ever thought would or could happen. It happened alright and to great effect. So, if Log Book Loans and my ole chum Iain Shearer has operated in a way that has brought misery to people then that company will not get any different to me than the Debt Collection Agencies who ruined peoples lives through their practices and we brought to task on these forums.

 

I worked in the credit industry for 30 odd years and debt collection agencies are a far cry today than they were 20 yrs ago believe me and the rotten eggs are being eliminated thanks to the enpowerment of the people to turn on them.

 

I couldn't care less anymore when a DCA phones me, I just tell them I won't talk to them, remove my details from your system and I'll write to the original creditor take it or leave it. Not something many of us would do in the past is it? Soon get's rid of them. (not that I owe much anymore, I think I've scared the rest off! LOL )

[Nicky Bodmin]

Hi Guys ,

 

This is what I have been saying all along.

What seems to be the point in all this fighting if they are just replaced by another unknown company. It seems the only type of business that would risk steping in the shoes of LBL are a company that has more balls and front than LBL.

 

They must be crazy or have the same disregard for the consumers and their rights as before. Its all bout money

the root of all evil.

[caro]

I guess the money they've made has made it worthwhile for the time they've got away with it. If they weren't allowed to keep their ill-gotten gains it might be a different matter!