Log Book Loans Again....

[ScarletPimpernel]

hi sweep1,

dont mean to be rude, but did you do geography?

newcastle is an english city, it is IN england and therefore subject to english law.

 

 

I don't mean to be rude, but did you do geography?

Newcastle is in fact in County Down; it is in Northern Ireland and therefore subject to Northern Ireland law.

 

Perhaps you were thinking of Newcastle Under Lyme, or Newcastle Upon Tyne, both of which are in England. It's all very well to pick others up on the accuracy of their statements, but people who live in glass houses...

[lynnt]

Dear all, I am doing a story on Log Book Loans fo ra national Sunday newspaper and would be very interested to hear of people's experiences - especially if you are from Scotland. Please call Lynn on 0141 309 3236 - I'll call you straight back.

[hedgehog0045]

I have just received a copy of the paperwork I signed in a reps car for my loan a couple of years ago. Is there anyone here who could check it over for me in terms of its legality?

[jcb228]

do u mean you took the loan out two years ago and youve only just recieved the posted copy of your agreement,well if thats the case,go to the oft office of fair trading because they have broken the consumer act 1974,by law you should have been sent that within the first ten days legally that will make the agreement unenforceable go and see a civil litigation solicitor hope this helps

[Fleeced73]

Well, I can vouch for the fact they don't return cars they take even if you obtain a pukka court injunction ordering them too. They are above the law, you know....

[joe1471]

:o if any bailliffs turn up at the door. make sure they have there SIA LICENCE (SECURITY INDUSTRY AUTHORITY) IT IS A LEGAL BADGE AND MUST BE DISPLAYED. IF NOT THERE BREAKING THE LAW. REPORTING THEM TO THE LOCAL POLICE CAN BE CONSIDERED OR PHONING THE SIA IS MUCH BETTER. GIVE THEM ANY CONTACT DETAILS AND THEY ARE LIABLE TO A POLICE CAUTION AND ANYTHING UP TO A £5K FINE.

[farzzle rock]

hey there,

i just wanted to know has any one actually won a case against lbl. there are lots of blogs on here about lbl, but none that actually say we the customer have won. if anyone has won a case get in touch with me cause im persuing lbl at this time

thanks

frazzle

[joe1471]

Remember To Ask The Baliffs For The Sia Badge. If They Dont Have One. Ask Them If They Have An Licence Dispensation Number. If They Dont Have That They Are Working Illegal. Phone Your Local Police And Insist They Take Action. Also Phone Sia (security Industry Authority) Contact Details From Any Google Search Engine. Good Luck. I Had The Bailiffs At 0530 To Clamp The Car Came Back At 0800 For £500 When I Mentioned The Badge They Didnt Come Back Till 1700.

[lookinforinfo]

Frazzle, I have not managed to find any cases involving Log Book Loans. This

could be perhaps because they appear under a different name when in

litigation, or they resolve problems before they get to Court.

If there is any truth to the stories on this website about certain of their activities then it would seem that a Court case is merited. So if you think you have a good case, press on. Since there is no evidence of them having won in Court either, maybe it is time you continued that trend.

[Fleeced73]

Car Credit Complaints

[sequenci]

Log Book Loans are AKA Nine Regions ltd.

[JonCris]

hey there,

 

i just wanted to know has any one actually won a case against lbl. there are lots of blogs on here about lbl, but none that actually say we the customer have won. if anyone has won a case get in touch with me cause im persuing lbl at this time

 

thanks

frazzle

 

Yes they have but they ain't gonna post it on an open forum as some cases are still ongoing & it's known that they monitor these sites.

[mcurshen]

Could Somebody tell me when you take out a LBL you have to hand over your logbook as security....????

 

Well i didn't they have never asked me for it either.

Can they still take your car without them acturley holding the logbook.

 

They go on about the bill of sale that you sign but i thought it was all about them holding the logbook to your car in the event that you dont pay the loan.

 

the tossers colected my car at 6.30am on the 17/01/2008 claiming LBL had sent bundles of letters but got no reply.

 

This could be the breakthrough that everybody is waiting for.

 

LBL SECURES THE LOAN ON YOUR LOGBOOK WHAT HAPPENS IF THEY ARE NOT HOLDING YOUR LOGBOOK CAN THEY STILL TAKE YOUR CAR???????

[joe1471]

did you ask the tossers for the SIA BADGE see previous thread.

[mcurshen]

whats the SIA BADGE??

[Fleeced73]

Mate, search this forum and read everything you can find about LBL

PM me and I can advise....

[JonCris]

Could Somebody tell me when you take out a LBL you have to hand over your logbook as security....???? NO

 

Well i didn't they have never asked me for it either.

Can they still take your car without them acturley holding the logbook.Yes

 

They go on about the bill of sale that you sign but i thought it was all about them holding the logbook to your car in the event that you dont pay the loan. No it's the Bill of Sale that's important

 

the tossers colected my car at 6.30am on the 17/01/2008 claiming LBL had sent bundles of letters but got no reply. Typical I'm afraid. Can you say who took the car on their behalf Gemini or Anglian or someone else

 

This could be the breakthrough that everybody is waiting for. Not really all of this is already known & there is already ongoing action against this firm.

What is important is if you can prove they didn't explain the consequences of signing the 'Bill of Sale' then the 'Bill of Sale' would be unenforceable

 

LBL SECURES THE LOAN ON YOUR LOGBOOK WHAT HAPPENS IF THEY ARE NOT HOLDING YOUR LOGBOOK CAN THEY STILL TAKE YOUR CAR???????

 

See above in red

[genipuss]

See above in red

 

Iz it pozzible to prove that the termz were not correctly explained?

[Bigbear733]

I think that it would be very difficult to argue that the terms were not explained when they are set out in the document you are signing.

[rugsrus************]

Hi,

ive read all these posts and threads with great interest and want to offer some advice if its any use to you. I drink in the company of a guy who works for LogBook Loans and some of the stuff he tells me is unbelieveable.

 

Anyway he was telling a few of us a while back that the big cheeses at Logbook Loans had an urgent meeting then all of a sudden told all of the people who sign the loans up that they either have to get prior written permission to see the customer at their home address or even in a car park to make the loan legal and binding.The other way was that the customer could only be signed up in a place that had a consumer credit licence like a pawn shop to make the agreement enforceable.

 

Apparentley their lawyer made a big f*ck up by telling the big cheeses they could sign loans anywhere without prior written permission from the customer. In short this guy reckons about 80% of the total loans they have ever signed since they started the business are not enforceable. If you contact the Office of Fair Trading they will take great interest in this.

Also bear in mind that if you didnt get your right to cancel form at the time you signed the loan that the loan is also not enforceable also. Thats what information i have come across and if its any help then good luck.

 

Also there is some legislation coming into force April 2008 which benefits borrowers more favourably and stops companies taking peoples cars.

 

All the best.............

 

 

 

 

I have just received a copy of the paperwork I signed in a reps car for my loan a couple of years ago. Is there anyone here who could check it over for me in terms of its legality?

[JonCris]

I think that it would be very difficult to argue that the terms were not explained when they are set out in the document you are signing.

 

 

Not if it's happening all the time - & it is

[Bigbear733]

Sorry JonCris I don't follow your argument?

 

Rugmuncher may have a valid argument - there are different rules to signing agreements off and on premises - if LBL have not followed the correct proceedure when issuing loans off premises then their agreements could very well be unenforceable.

[Bigbear733]

Hi Everyone

I have a way to get back at Log Book Loans (“LBL”) and Mobile Money (“MM”). I assure you, this will work - I am a lawyer.

I have read the various threads with some horror at the tactics used by LBL and MM and this is my reason for posting.

Unfortunately, first some bad new – the loans they issue, and the way they secure their interest over a vehicle, via a Bill of Sale (“BOS”), is completely legal, if they follow the correct procedure. I have reviewed a LBL case and they seem to be doing everything correctly; I have not looked a MM, but I would presume they are also following the correct procedure. Furthermore, despite some posts that suggest the contrary, they can take possession of goods which are secured by way of a BOS without a court order.

Sorry, it gets worse before it gets better – if you are unfortunate enough to purchase a vehicle which has a chattel mortgage (what the BOS effectively creates) attached to it then, even though you are an innocent party, the vehicle can still legally be taken off you without a court order.

I am surprised that I have seen another lawyer in a press article suggest that this is illegal – he referrers to innocent parties purchasing vehicles with outstanding hire purchase (“HP”) agreements and, what he refers to as “other loans” (although he does not elaborate on what other loans are), and states that the an innocent purchaser obtain the goods with good legal tile. He is completely correct in relation to HP agreements as s27 Hire Purchase Act 1964, as substituted by the Consumer Credit Act 1974, provides that an innocent purchaser without notice (ie in non legal speak - a private individual who buys something not knowing that the item was subject to a HP agreement) takes the goods purchased with good legal title. However, there is no such provision for security taken by way of a BOS. In fact, the common law position was amended by s27 and a good analogy to explain why the law works this way is to consider stolen property. If your car was stolen and sold to an innocent party do you think that if the police managed to locate the vehicle you should not be able to re-claim the car – obviously I would think most of you would think that if something is stolen from you then you can take it back once located – and this is exactly the legal position. The general rule in law is that someone can only give good legal title if they themselves posses it, and, unless there is some legislative exception, this rules applies to the sale and purchase of all chattels (in simple terms, chattels is legal speak for property which is not land and buildings – sorry if I sound patronising but I know there are some reader who are not as legally conversant as other and I just want them to understand what I am saying).

I have read a number of other posts that incorrectly state the law and give false hope but I don’t have the time to deal with each issue raised.

Unfortunately, in my opinion it will be very difficult to legally challenge LGL or MM based on the BOS.

However, now for the good news. To operate within the law lenders require a consumer credit licence. This is issued by the Office of Fair Trading (“OFT”) and recent legislative changes have given the OFT significantly more discretion and powers in who to issue consumer credit licences to and, where appropriate, to revoke such licences.

My proposal is that we work together to get the consumer credit licences of LBL and MM removed and this is how to do it:

The law in relation to credit advertising was changed recently by the Consumer Credit (Advertising) Regulation 2004 (the “Regulations”). I will not bore you with the details but the OFT have issued guidance to lenders on the interpretation of these regulations. Basically a lender must publish a typical APR where, amongst other things, they offer credit to people with a poor credit history or where they offer an incentive.

The OFT have stated that terms such as “No Credit Checks” or “Super Fast Loans”, or similar, will trigger the requirements to publish a typical APR. See para 8.16 of the following guidance: http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft746.pdf

I have seen advertisement placed by both MM and LBL that contravene the Regulations by not stating a typical APR. I saw one today – they are not difficult to find.

This is what I propose that everyone does – look out for MM and LBL adverts. If they say anything like “fast loans”, “no credit checks”, “CCJ’s - no problem”, “Cash Loans within 30 minutes” etc then they must quote a typical APR. If they don’t then they have broken the law.

Report every breach of these regulations to your local trading standards (a letter or e-mail is best, but phone if you don’t have time). If enough complaints are received then the OFT will have to consider revoking their consumer credit licences. What’s even better, the directors of LBL and MM will face criminal prosecutions and convictions as breaching the Regulations is actually a criminal offence.

If enough people take action, as I have suggested, then LBL and MM will lose their consumer credit licences and this will stop them trading – in short, there is more than one way to skin a cat!

I hope this has been helpful and I wish you all luck.

[JonCris]

Sorry JonCris I don't follow your argument?

 

Rugmuncher may have a valid argument - there are different rules to signing agreements off and on premises - if LBL have not followed the correct proceedure when issuing loans off premises then their agreements could very well be unenforceable.

 

That's what I'm saying. If enough come forward stating that signing the 'bill of sale' was not explained to them then LBL's finance agreement & everything else fails.

 

One person claiming such might have difficulty convincing a court but a number of victims stating the same will not

[JonCris]

Big bear I see you have reviewed one LBL BOS & consider they are acting within the law.

 

I find that remark surprising as a large law practice of my acquaintance is acting on behalf of many LBL victims & their & counsels opinion is very different from yours - & they have reviewed dozens

 

The BOS itself may appear to be correct but if it's not explained to the client or not registered within the statutory period, without an extension being granted, then it's not enforceable