Log Book Loans have taken our van, but we've never heard of them!

franky_chipps

More on 4 point financal services Ltd.PO Box563.Southport PR8 9 AH. I rang them 01704 569 097,and asked the for some document about the finance on my car,and asked it to be sent to my address, do I need to put it in writing to them? ,not received anything as yet. But the guy I got the car of told me he was selling the car for his disabled uncle and only had the car of him for a few month's ,and had now to sell it due to being unemployed,however the Lbl was applied "three days before he sold it to Him",after he'd had it only a matter of months. Now he's got" No idea"? , who owned the car before before him!.

franky_chipps

An Update. remember I bought a car of a man who bought it of a man who took out Llb Nov 2008 and they are chasing me.Well i got in touch with, Nine Regions Ltd trading as Log Book Loans,reistered office at Bridge studios,34a Deodar Rd ,putney,London under No.04286387. and they sent me The Bill of sale the sum of £2000. plus interest ,I want to settle the debt that I didnt take out,But how do I ensure once they have My money that they will Remove the debt OFF the HPI data Base ,do they have too? and how soon?....again many thanks to all those who help others .franky( er.where do I find your replies?? back on this thread? )

franky_chipps

Log book loan question dose anyone know whether I should contact Hague- Lambert. 2 Primrose avenue Urmston Manchester M41 0TY. As the name on a document which has on it an official looking stamp,Supreme Court of England and Wales,Bill of sale, has got that name on it.should I contact Hague Lambert First ?

franky_chipps

Log Book Loans. "Heres a bit of a head scratcher?" John Roper. Financial Recovery Agent. Mobile. 07843851934, For 4 Point Financial sevices Ltd. Southport.Po Box 563. Told me that he was reporting the car to GMP. as a stolen car. and that "THEY" had the Log Book??? How can that be, I hold "my Log book" and after speaking to D.V.L.A swansea.they told me to check my V5. for a "water mark" to see if its genuine,and it has one," How do they do that," Is it Magic? There are two things that smell of Fish,and one of em's Fish

UnderPressure

Well what a nightmare situation some of you have been in with this scam of a company

Franky Chipps before going any further and certainly before giving these scam artists any money I really would seek some professional legal advice, you seem to be based in Manchester if so Im sure there will be loads of law practices around offering free half hour or free 1 hour consultations, I think in your case with you thinking of paying the debt off this would be a good idea?

Also you do realise that by paying this debt off you are going to let the scum who origianlly "committed the crime" if you like get away scot free? Of course it may bemore financially viable to you to pay it off depending on the vehicle and the value I understand that.

Might it be worth trying to "negotiate" with these people? Maybe trying to offer 60 or 70% as full and final settlement? I dont know how you would go but really you need to achieve the goal of them having no more interest in the vehicle as cheaply as possible.

What an absolute nightmare and from what I have read in this thread it seems it could happen to anyone, how can you protect yourself from this if LBL have no duty to record the outstanding finance with HPI? Crikey come on ConDem lets et something done about these loan shark companies and quick!

Best wishes Franky Chipps I do hope you manage to sort this out soon

foxylady2009

CashRequired wrote: »

If you buy a car with outstanding finance, it doesn't belong to you, it belongs to the credit company, and they can legally take it back.

I had to learn the hard way, didn't HPI check, and my car was repossessed . Please never use the text message checker either, it doesn't bring up important information.

The only way you stand a chance with these things is like if you buy from a garage and you have a receipt and then sometimes you can get "legal title" of the vehicle as you were an "innocent purchaser".

Sorry but you are completely wrong! You should never have handed the car over!
If you purchase a vehicle with outstanding credit and this is unknown to you at time of purchase that vehicle is legally yours. No finance company has a legal right over the car any longer. The responsibility of the debt would be whoever took out the loan agreement.

http://docs.google.com/viewer?a=v&q=cache:mMF6yLrDOsoJ:www.hants.gov.uk/regulatory/images/buycars.pdf+finance+on+car+bought&hl=en&pid=bl&srcid=ADGEESivEL1dV6R8nBBCwyjgL-cEFu1Dz480ki_V20OOyB_0TnsnNHLX9n8lTnrZIEQdcpqFVriM6px9tCtvWd5PmGmlMH48vG4bp7mRCLRgujgkHSoMNj9_fZ1qP-KFtePmEagArEX3&sig=AHIEtbS2g94a2E_CMunC8f3CtmR39k-7SQ

CashRequired

foxylady2009 wrote: »

Sorry but you are completely wrong! You should never have handed the car over!
If you purchase a vehicle with outstanding credit and this is unknown to you at time of purchase that vehicle is legally yours. No finance company has a legal right over the car any longer. The responsibility of the debt would be whoever took out the loan agreement.

http://docs.google.com/viewer?a=v&q=cache:mMF6yLrDOsoJ:www.hants.gov.uk/regulatory/images/buycars.pdf+finance+on+car+bought&hl=en&pid=bl&srcid=ADGEESivEL1dV6R8nBBCwyjgL-cEFu1Dz480ki_V20OOyB_0TnsnNHLX9n8lTnrZIEQdcpqFVriM6px9tCtvWd5PmGmlMH48vG4bp7mRCLRgujgkHSoMNj9_fZ1qP-KFtePmEagArEX3&sig=AHIEtbS2g94a2E_CMunC8f3CtmR39k-7SQ

Yes you are right...

Its not outstanding credit im talking about per say, i meant cars with HP agreements. IE you pay the company monthly payments but until the balance is cleared, or you give the car back, it belongs to them.

If somebody has a car on hire purchase. It belongs to the HP company. If your name is on the logbook, this doesn't mean anything, it just means that you are the "registered keeper", it doesn't mean you are the legal owner.

The person with the HP agreement on the car has no right to sell the vehicle, because it doesn't belong to them. Which was the case with me. Believe me, i wouldn't have just handed it over without getting LOTS of legal advice. Unfortunately i missed out the detail that i aquired my car through a straight exchange with a private seller, then they left the country. The car didn't belong to that individual because it was under a hire purchase agreement, it belonged to the credit company, it was their car. Because of the fact i did a straight swap rather than purchase some how made my position consierably weaker legally speaking. If i had a paid in cash and had a receipt of some kind, i would have had a good chance to attain "legal title" of the vehicle. The car i got stung with was cheap with loads of problems so i wasn't too bothered thankfully.

It depends if its outstanding credit thats just essentially a loan, or if the oustanding credit is due to a hire purchase agreement which in this case the person with the car doesn't actually have the legal right to it, therefore can't sell it/modify it in anyway.

franky_chipps

Its funny how things crop up,I was looking though some old papers to see if i had after all got a reference of Hp iLog book loans,when I came across a old pals phone No.them I remembered he had had some thing similar so I gave him a car , his story was he bought a car from a posh dealer in Manchester and a knock on the door for his car,he gave it them,rang up his insurance legal protection and off they went to court, But it didnt get to the courts ,Why? because his insurance companytold him ,the Posh Dealer had declared himself Bankrupt,and now after chucking his own redundancy money at it,the insurance said we are Not going to puse it. He LOST 8K & car. "how bads that" thanks franky

Paulgonnabedebtfree

foxylady2009 wrote: »

Sorry but you are completely wrong! You should never have handed the car over!
If you purchase a vehicle with outstanding credit and this is unknown to you at time of purchase that vehicle is legally yours. No finance company has a legal right over the car any longer. The responsibility of the debt would be whoever took out the loan agreement.

http://docs.google.com/viewer?a=v&q=cache:mMF6yLrDOsoJ:www.hants.gov.uk/regulatory/images/buycars.pdf+finance+on+car+bought&hl=en&pid=bl&srcid=ADGEESivEL1dV6R8nBBCwyjgL-cEFu1Dz480ki_V20OOyB_0TnsnNHLX9n8lTnrZIEQdcpqFVriM6px9tCtvWd5PmGmlMH48vG4bp7mRCLRgujgkHSoMNj9_fZ1qP-KFtePmEagArEX3&sig=AHIEtbS2g94a2E_CMunC8f3CtmR39k-7SQ

I am going back 20 years but the law may have changed. Back around 1988, I bought a seven year old car for cash. I paid slightly below the normal asking rate but just assumed the guy needed a quick sale without all the haggling. A few weeks later I parked up at a car boot sale where some woman came up to me and questioned me about the car. It turned out that she had sold the car to the guy I bought it from. She had taken out finance on it. He was repaying her £x per month. I bought it from him in good faith. I drove around to ask the guy about it whoI bought it from. He admitted it ands said no problem. He paid her. She paid the finance company. I had no problem. When I checked with CAB they did an HPIcheck. The car was indeed on finance but I had legal title because I bought in good faith. The only way I would not have legal title is if it had been stolen.
I heard no more about it so presumably he kept paying her and she kept paying the finance company. It sounds like he had a cashflow problem and needed to convert the car to cash and repay monthly.

franky_chipps

Log book Loans,Putney London,Have now been paid to remove the Hpi black list off the car ,y'know the debt that I didnt take out! ,but I was an inocent purchaser,thanks to all willing to help others, This is one method off borrowing that Needs closing down,but as people have seen with Banks .There is the Law ,and there is what goes on.Tell everyone you know or dont know ALL about this Log Book Loan Misery. I have made it my personal development plan.