logbook loans..hello do gooders,,what a problem

[actionblusox]

hi i am having the same problems with them. except they have issued me with awbout 17 x GBP 20.00 letters.

i have had to up my loans (3 loans) to be able to afford and now cant afford again.

i am on incapacity benefit, when they offererd me a GBP 600.00 loan. they said to me that they were part of cash generator, which cash generator said they werent, they rung me and asked me to meet them in a hotel to process the loan thinking this was dodgy but i was deperate i filmed the meeting.

 

i contacted them a week later to say i wanted to pay off in full and use my rights to terminate, they said it was tough and that i only had 7 days to cancel,and that if i did want to cancel it i would have to pay 950.00, and if i didnt they would take my car worth 12,000.00 because he said that they now owned my car for that 600.00. i then took a loan out for 1,000.00 to pay this off and asked for them to send me the details of payment through which they never did, panicking they said consolidate my loans which had gone upto 2,300.00, i did this with a loan of 3,500.00 with a view of trying to pay it off earlier, i was that far in debt with them i didnt know what to do, my payments are 66.00 per week and i get 74.00 per week incapacity. and if i pay for the 4years i would be paying them back 13500.00 in total. i dont know what to do has i feel exploited because of my debt situation. i have contacted trading standards and have sent them details. can anyone suggest anything apart from calling me a fool which is what i feel.

thankyou.

[younganfree]

Anything you do via this forum may take some time, and I'd say time is of the essence in this case.

My immediate, and I must stress personal, advice would be to call into the Citizens Advice Bureau ASAP, to see if they can do anything for you. I think you'll probably need outside help on this one, and I believe the CAB know what they're doing. Take all correspondence you have on the case with you, it may save time.

In the meantime, you could also post a NEW THREAD on the "debt and bailiffs" forum to see if anyone there can come up with some more advice for you.

'Good Luck' on this one, actionblusox.

[dollies01]

Hiya Actionbluesox

This is a horrendous story.

I am sure there will be somewhere here that can help you.

You havent made it clear who this company is, but could I suggest you repeat this thread in the " other institutes" forum.

I will be told off by the mods (sorry mods!) for encouraging you to duplicate a thread, but I feel that for the help you need, and deserve, your post will be better viewed elsewhere.

good luck

and chin up, they cant have what you havent got.

[dollies01]

oops! sorry youngandfree!!!

I didn't refresh the page before I posted...........good news is we said roughly the same thing!

[actionblusox]

Anything you do via this forum may take some time, and I'd say time is of the essence in this case.

 

My immediate, and I must stress personal, advice would be to call into the Citizens Advice Bureau ASAP, to see if they can do anything for you. I think you'll probably need outside help on this one, and I believe the CAB know what they're doing. Take all correspondence you have on the case with you, it may save time.

 

In the meantime, you could also post a NEW THREAD on the "debt and bailiffs" forum to see if anyone there can come up with some more advice for you.

 

'Good Luck' on this one, actionblusox.

 

thanks you two, today i have just received a final demand from these logbook loans ltd. and now have 12 days left to bring up to date. it says on the letter that if i am having difficulty that i should ring them but when i do they say tough cant help cos im in arrears.

[actionblusox]

hi i am having the same problems with them. except they have issued me with awbout 17 x GBP 20.00 letters.

i have had to up my loans (3 loans) to be able to afford and now cant afford again.

i am on incapacity benefit, when they offererd me a GBP 600.00 loan. they said to me that they were part of cash generator, which cash generator said they werent, they rung me and asked me to meet them in a hotel to process the loan thinking this was dodgy but i was deperate i filmed the meeting.

 

i contacted them a week later to say i wanted to pay off in full and use my rights to terminate, they said it was tough and that i only had 7 days to cancel,and that if i did want to cancel it i would have to pay 950.00, and if i didnt they would take my car worth 12,000.00 because he said that they now owned my car for that 600.00. i then took a loan out for 1,000.00 to pay this off and asked for them to send me the details of payment through which they never did, panicking they said consolidate my loans which had gone upto 2,300.00, i did this with a loan of 3,500.00 with a view of trying to pay it off earlier, i was that far in debt with them i didnt know what to do, my payments are 66.00 per week and i get 74.00 per week incapacity. and if i pay for the 4years i would be paying them back 13500.00 in total. i dont know what to do has i feel exploited because of my debt situation. i have contacted trading standards and have sent them details. can anyone suggest anything apart from calling me a fool which is what i feel.

thankyou.

today

thanks you two, today i have just received a final demand from these logbook loans ltd. and now have 12 days left to bring up to date. it says on the letter that if i am having difficulty that i should ring them but when i do they say tough cant help cos im in arrears.

[dollies01]

I'm sure I will get told off for saying this, but If I were you, I think I would be tempted to send a subject access request to them.

This would serve two purposes

1) to see if there are any charges added to the loan that you can get refunded on, thus reducing the loan

2) would buy you some time.

Whilst the debt is in dispute, they can't do anything about it, though technically you are meant to continue paying during this time.

Once you have the information, someone here will be able to help you.

[actionblusox]

hi dollie,

could you explain how i would serve logbook loans with a sar please, the templates seem to only refer to banks.

thanks for your help.

[dollies01]

Just pm'd you a edited version that should be fine!

Hope this helps

[mart2k6]

Hi

 

Could you possibly post me the same template as I am having the exact same problems with them , but am currently trying to work together with the trading standards to sort this out

 

Thanks

[actionblusox]

hi mart

i have also contacted trading standards,how are you getting on with them?

also i beleive logbook loans know who i am because they sent me a default notice 3 days after i posted on here!

thanks

[mart2k6]

Hi

 

Snap mate im sure theres a particular user on here that is replying yet tracking the posts (Not naming no names tho )

 

In the early stages myself but trading standards have told me I have an excellent case and just am awaiting some documentation

[dollies01]

erm...........there is only you two, me and one other on this thread though....

Personally I have just tried to help!

[mart2k6]

No sorry :D

 

Dont get me wrong i didnt mean on this thread i meant the suspicion was mentioned on a few other threads

[dragonlord002]

The more i hear about log book loans the more i think that the way to deal with them.

 

[edited: Please do NOT write posts advocating violence.]