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Another Log Book Loans Victim


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Hi there, I’m new here!

Apologies for starting a new thread but I’ve found so many Log Book Loans threads I just didn’t know which to reply to so thought it might be easier to start new.

I just wanted to tell you my Log Book horror story.

I took out a loan in Aug/Sept 2006 for £890 – (of which I saw £750 – the other £140 was to cover the first 4 weeks payments).

It would be over a year and I would pay £32 per week. (Which I take to come to about £1700 including interest??)

In mid-November, I woke up to find a clamp on my car and a note on the windscreen to call this bailiff man. I called him and he told me to call Log Book and arrange clearance of my debts of over £750. I have to say, I can’t possibly see how this could have been this amount – even if I hadn’t paid a single penny since I took it out, it was only about 10 weeks since taking out the loan to them clamping my car.

If I take into account the initial £140 to cover first 4 weeks, then there were approx 6 payments I was behind which at £32 per week I make that £192 not over £750

Anyway, after a long row with a horrid person, trying to explain that as I do not have that money and even if I did I couldn’t pay them as I don’t have a debit or credit card and her saying she didn’t care, My dad agreed with them that if he paid £650 there and then they would take the clamp off.

Since then, I’d been paying monthly at the end of the month, until they sent me multiple letters at a cost of £12 per letter saying I was in arrears each week. I rang and asked why send me these when I’m paying monthly and it was only then that they explained that as my original agreement was weekly that I had to pay weekly as if I wanted to pay monthly it had to be for the month in advance, not in arrears.

So, went back to paying weekly but they threatened me again last month as I had missed 3/4 weekly payments (no letters, just straight default notice). I rang up, explained I’d clear it that Friday (3 days time) as I got paid. She said she didn’t care, that because my account had been poorly maintained they’d take car, end of story.

Eventually I talked her round to accepting my payment on the Friday. I’m now back to paying every week without missing a single one.

So far, I think I have paid at least £1000 off the original loan of £890 (about £1700 in total including interest) excluding the £600 my dad paid and the multiple £12 charges for them sending letters.

 

After reading loads of similar threads, I just wondered if someone wouldn’t mind answering a few questions (in layman’s terms!) please for those (ie. Me!) Who haven’t heard the answers before?

1) Where can I get a subject access request form from in order to get a detailed breakdown of my debt, including payments and charges and how do I get this info from Log Book Loans? Also, if I get this info, is there anything I can do with it? (ie. Stop paying if I’ve cleared the initial debt etc etc)

2) Is there anywhere or anyone interested in making either a mass complaint or class act against them that I could join or share my story with? I just feel they shouldn’t get away with this – the bullying, constant threats, taking cars, charging unbelievable high rates of interest and other charges

Is there anything legally that can be done about them?

3) I’ve heard comments about agreements being “illegal” – could someone explain how or what makes an agreement illegal please?

4) I found this on the internet but am unsure as to what (if any) the implications of it are. I know it means the OFT has made them change some of their terms of contract but what does it mean in practice? Is it going to help anyone already with them? Can someone explain please?

http://www.crw.gov.uk/Undertakings+and+court+action/Publish+Public/2263_1.htm

Thank you for reading this and I appreciate any responses.

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