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    • thats the point of a LBL!!…. they DONT need any court approvement to enforce it..   as long as the bill of sale has been correctly registered  there is quite frankly stuff and all you can do to prevent losing your car. http://www.consumeractiongroup.co.uk/forum/showthread.php?452164-Log-Book-Loan-Guidance&p=4791345#post4791345 from my notes. [prob same as above! >>>>>>>>>>>>>>>>>> logbook loan repossessions are not always legal,  . if linked to a CCA agreement or if the BOS has not been registered with the high court. . If BOS registered then yes they can reposses,  but have to show registration and debt details. Registration  A bill of sale can only be enforced if it was properly registered.  Since this is an expensive and difficult process,  it is rare that this actually happens.  However, failure to register the bill of sale renders it void,  and so renders any security on goods void. .  Consequently, before allowing any creditor to gain possession of your goods,  ask to see a registered copy of the bill showing the supreme courts seal. .  You can also call the national debt line, and ask them how to search the registry yourself. .  Also a valid DN must be issued. . If linked to a CCA then can not reposses if on private property without a court order  ( but can if on public road and under a third has only been paid ). . Over a third, they need a court order wherever it is. . check for...[BOS] . Not Registered With The High Court In 7 Days not registered AT ALL!  . Credit Agreement Details Not On The Bill Of Sale You should also check that the name on the registration documents  matches the name of the person who signed the BOS On occasions these cars get sold on several times . how to check: . email:QBEnforcement@hmcts.gsi.g ov.uk.[no spaces] . ring:020 7947 7772  . write: QB Enforcement Section,  Room E15-E17,  Royal Courts of Justice,  Strand, London, WC2A ... . ideally you need the BOS number . however they can search by the Reg Number . ...............  also see: http://www.fca.org.uk/firms/firm-types/consumer-credit/consumer-credit-research/logbook-loans ..... Do you have a problem with a Logbook Loan?  With Citizens advice estimating that over 60,000 of these loans were taken out in 2014 alone  an increasing number a causing severe difficulty and distress for borrowers. .  In this guide we explain what a logbook loan is, and how they work.   What you can do if you have a repayment problem,  and what you can do if you have unknowingly bought a car with a logbook loan attached. .  Three golden rules for Logbbok Loans .  1)No matter how desperate you are to purchase a car, or raise cash,  NEVER consider this type of Finance  These loans are designed purely for the benefit of the lenders.  With APRs of 400+%, little consumer protection, and aggressive debt collectionicon practices  they should be avoided at all costs. .  2)When purchasing a used car from whatever source,private or trade,  ALWAYS do a FULL GENUINE HPI CHECK costing around £20,  these come with a guarantee against any form of existing finance, including lbl's .  3)If you have any problem with a Logbook Loan,  your first step is ALWAYS to check that the Bill Of Sale has been registered  with the High Court. You can do this here- .  to check if registered .  Contact Details .  QB Enforcement Section  Room E15-17  Royal Courts of Justice  Strand  London  WC2A 2LL  DX 44450 Strand .  Telephone: 020 7947 7772  Fax: 0870 324 0024  Email: QBEnforcement@hmcts.gsi.g ov.uk .  You may read on the internet that your BOSicon will be void if witnessed by your lbl lender .  Since the OFT( as was) lost the attestation case on appeal by 2 to1 this is NOT the case .  full details here http://www.bailii.org/cgi-bin/markup...method=boolean .  Logbook loans are a form of credit dating back to the Victorian era,  derived from the 1878/1882 Bills Of Sale Acts, with terms and conditions to match in many cases. .  Problems are many fold from extortionate charges by lenders for calling a customer,  to repossessions where owners have been left at the side of a busy road,  unable to get to work, and even sexual harassment via debt collection. .  Poor practices abound, unsurprising when there is no incentive for lenders  to ensure their customers understand the terms or can afford the repayments.  In fact the very nature of this form of finance could be seen to encourage bad behaviour  – why carry out affordability checks if a single missed payments means you get to keep   the money and takeaway the car? . .  How does it work? .  When you take out a logbook loan you will be asked to hand over your vehicle’s logbook  or vehicle registration document, which proves you are the registered keeper of the vehicle. .  You’ll also have to sign a credit agreement and a form called a ‘bill of sale’.  This means the lender now owns your vehicle on a temporary basis  but you are still able to use it so long as you meet all loan repayments.  . These documents are recognised by law in England, Wales and Northern Ireland  but are not used in Scotland. .  The law only recognises a bill of sale if the lender registers it with the High Court.  If it’s not registered, the lender must get a court’s approval to repossess your vehicle.  . You should check if the bill of sale is registered. .  What you should do if you have a repayment problem .  1) check your Bill Of Sale is registered as above .  2) the lender must send you a default notice which complies with the requirements of s87(1)cca1974 .  allowing you fourteen clear days to remedy any default (which can be after one missed payment) .  You should , if your lender will not negotiate a reduced payment, straight away on receipt of the dn .  look to take out a time order. This gains you the protection of the court, which can look into the overall loan-- https://www.nationaldebtline.org/EW/...t/Default.aspx .  What you can do if you have purchased a car with an existing logbook loan .  If you receive a letter threatening to repossess the car or an enforcement officer  turns up at your home to take it, you may not be able to stop them.  . •ask to see proof of their identity and their authorisation to take the car •ask to see the bill of sale document – they have to show you this if you ask for it •if you feel threatened by how an enforcement officer is behaving, call the polic •ask for written confirmation of what has been taken •get the contact details for the logbook loan company. . If the lender has taken your car, you can try to get it back  and reclaim your money from the seller.  However, this can be a costly and time-consuming process and is not guaranteed to succeed. .  If you want to get the car back, you could pay off the outstanding loan  and then take the person who sold you the car to court, to try to get your money back.  .  If you just want to get your money back, you can take the person who sold you the car to court.   Always get independent advice before you decide to take someone to court. .  Some lenders are members of the consumer credit Trade Association (CCTA),  which has a code of practice covering logbook loans.  The code of practice says the lender must register the logbook loan on a register,  so it will show up when you carry out a history check on the car.  It also says they must obey certain rules when they repossess a car. .  If you are unhappy with the way a logbook loan lender or its enforcement officers have behaved,  find out whether they are a member. If so, you can complain directly to the CCTA. However this code is regularly ignored . http://www.ccta.co.uk/content/our-code.aspx .  Finally both the Financial Conduct Authority and the Law Commission are investigating  Logbook Lending  and the associated legislation,  full details here-- . http://www.fca.org.uk/firms/firm-typ.../logbook-loans . http://lawcommission.justice.gov.uk/...ls-of-sale.htm . for anyones info, you must act immediately on receipt of a default notice . What you should do if you have a repayment problem .  1) check your Bill Of Sale is registered as above .  2) the lender must send you a default notice which complies with the requirements of s87(1)cca1974  allowing you fourteen clear days to remedy any default (which can be after one missed payment) .  You should , if your lender will not negotiate a reduced payment, straight away on receipt of the default notice look to take out a time order. This gains you the protection of the court, which can look into the overall loan-- . https://www.nationaldebtline.org/EW/...t/Default.aspx Bills of Sale Act does not apply in Scotland, just to reassure you from the Money Advice Service *Taking out a logbook loan in Scotland*   In Scotland, ‘bills of sale’ cannot be used as security and are not legally binding.   Lenders in Scotland are therefore likely to be operating under different credit arrangements.   If the logbook loan is a ‘hire-purchase agreement’ or a ‘conditional  sale’, your consumer rights and protection under the Consumer Credit Act  1974 will apply. . worth a read http://www.consumeractiongroup.co.uk/forum/showthread.php?472038-ACF-THe-funding-Corp-illegal-repo-now-DCA-Chasing-loan&p=4972172#post4972172 . dx  
    • Can someone please help. I received a money claim and the trial is coming very soon. The claimants are the landlord, sent out a late payment warning letter in 2016, no warning letter has been received since.  I received a money claim against me in December 2018 without a letter before action.  The claimant is claiming breach of contract and they have submitted an agreement with their claim form that I think is invalid because it was created in 2015. We have a newer agreement that was signed in 2016 but the claimants have always denied this.  Today on their witness statement, they have attached this agreement date 2016. Would this make the 1st agreement invalid and would this be enough to get the claim thrown out of court? Any help would be greatly appreciated. Thank you! 
    • Oh dear - Report it as stolen - You better give it to them or else... However if you can tell - I am being sarcastic...    So - Affordability is a prime concern but with LBL - Because they are secured - It is very hard to do a IRR Lending complaint unless they seriously overvalued the car.  What are the amounts they are talking to you about? (Figures)   I dont think there is much they can do apart from enforce through court proceedings for repossession. Thats the only way I think but dont quote me on that...  If there treatment of you has been detrimental and caused sever mental health issues then you can complain to the FOS and also you will be afforded time to come up with a repayment plan.    Where is the Vehicle stored at the moment?
    • I've received a cheque from CS for the loan PPI - £2,238.72. Banked and will give a CAG donation once it clears. Thanks guys.    Also received a reply to the Credit Card PPI that I had queried. 8 weeks since my letter and they have written that due to the high volume of complaints it's taking longer than expected to respond. They expect another 8 weeks to respond of close the complaint. 
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pinny

Ombudsman calculations for PPI compensation vs compensation via the courts

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Hello - can I ask for some advice please?

 

 

I have found an almost complete set of statements from Sep 1998 to May 2002.

It covers an Alliance & Leicester credit card now taken over by Santander.

 

 

I have to say that Santander have previously been good within limits - paid out when statements missing and very quickly.

Of course, we should never have been in this position to start with but they do seem keen to be seen to be doing the right thing, unlike many others.

 

 

My questions are these:

 

1. Given that the start date is so long ago, if I went legal, the compound interest is likely to make the award much larger than using the simple interest method.

Can you please point me towards the spreadsheet that would enable me to work out the likely award please?

 

2. Also, how long does court action take, typically?

 

What I might do (as they are likely to make me an offer within the next 2 weeks)

is to suggest a compromise settlement to avoid court action but need to know what the likely sum is to start that discussion I think.

 

Thanks very much for your help

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Any advice I give is honest and in good faith.:)

If in doubt, you should seek the opinion of a Qualified Professional.

If you can, please donate to this site.

Help keep it up and active, helping people like you.

If you no longer require help, please do what you can to help others

RIP: Rooster-UK - MARTIN3030 - cerberusalert

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Dear maroondevo 52 Thanks for this - in column I of the CI sheet, how do I calculate the charge please? Is it interest, plus PPI, plus spending, plus charges (annual, late payment or over credit limit) - so the same figure as in column C of the REDRESS CALCULATION UNDER FOS RULES - RUNNING CREDIT ACCOUNTS

 

Thanks again!

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Hi pinny,

 

Sorry I'm not too sure myself, I've asked another Mod to have a look and advise.


 
 

Any advice I give is honest and in good faith.:)

If in doubt, you should seek the opinion of a Qualified Professional.

If you can, please donate to this site.

Help keep it up and active, helping people like you.

If you no longer require help, please do what you can to help others

RIP: Rooster-UK - MARTIN3030 - cerberusalert

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Thanks again! I think it's likely to be PPI only because otherwise with compound int all charges would tot up to nearly half a mil! I don't think that's likely, sadly!

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If it's half a mil, we could do with a small donation :)


 
 

Any advice I give is honest and in good faith.:)

If in doubt, you should seek the opinion of a Qualified Professional.

If you can, please donate to this site.

Help keep it up and active, helping people like you.

If you no longer require help, please do what you can to help others

RIP: Rooster-UK - MARTIN3030 - cerberusalert

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Don't worry, Id be making a large one in that case!

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you simply take each and every PPI figure from the statements

and enter each one individually into the CISHEET

 

 

then workout the avg APR you were charged

 

 

enter that into cell D 15

 

 

then enter the claim to date as the date the card closed or int stopped.

 

 

then comeback here


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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But in the meantime, I've made a donation. Really appreciate all your help regardless of how much I get - the feeling of righting a wrong is goooood

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Thanks dx

 

 

I've got 3 years statements to hand (rest at office so will get them tomorrow)

and the av rate from 1999 to 2001 is 23.39%.

 

 

To calculate monthly interest,

 

 

I've taken the starting balance, removed the credit, then divided the interest by the result, multiplied by 100. Is that right?

 

 

Spreadsheet attached.

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dx hello again.

 

 

I've got the missing statements from the office and

 

 

when I average out the interest it rises to a whopping 31.44% pa!

 

 

What I've noticed going through the statements is that in months where I've almost paid off the balance and there's just a few pence interest,

that interest is very high as a % of the o/s balance and this is driving the overall average up. is this normal?

 

 

Please see revised spreadsheet uploaded and thanks again. Pinny

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don't forget you can only run the claim to date till when they stopped interest

certainly not until today!


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Thanks dx that would have been embarrassing! So, with Ombudsman awards you can claim up to the day they pay but not with ones that go through the court?

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you misunderstand

 

 

whichever way you go

you can only charge interest at the OC's rate whilst they charged it.

 

 

from then, you take that total [from the CISHEET]

and input it for the day after in the statint sheet as a whole figure.

 

 

StatIntSheet v101.xls

 

 

you are entitled to simple int from the day theirs stopped till the day they settle


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Thanks dx - is OC old card?

 

 

I've followed your instructions and attached both spreadsheets.

 

 

Would yoiu mind confirming please that these look right and the payment calculated on the sheet with just one date is what I should be looking for?

 

 

Really grateful for your help.

 

 

Pinny

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you got it right well done.

 

 

now fill out the FOS CQ

 

 

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html

 

 

and do a covering letter like attached

 

 

then the 3 go off to A+L or whomever satans bank sorry


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Thanks dx! It really is a minefield and it's so good to be able to check out assumptions with experts. I will keep you posted. Onward and upward!

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I would just say that people really should avoid using the letter templates.


Warning: Freemen of the Land Operate here. Think twice before accepting 'legal advice'.

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I would just like to say there aren't any letter templates

 

 

usual invaluable input from you MM - not!

 

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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I would just like to say there aren't any letter templates

 

 

usual invaluable input from you MM - not!

 

 

dx

 

I was referring to the letters attached in one of your posts above.

 

My input was to avoid using these - which is valuable.


Warning: Freemen of the Land Operate here. Think twice before accepting 'legal advice'.

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in which the post said....and do a covering letter like attached

 

 

which are not templates .


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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in which the post said....and do a covering letter like attached

 

 

which are not templates .

 

Well so long as they are not copied word for word, all is well.

 

That's all I was pointing out.


Warning: Freemen of the Land Operate here. Think twice before accepting 'legal advice'.

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