log book loans rip off charges please help

Morglin

I would get some proper legal advice:

http://www.communitylegaladvice.org.uk/

http://www.consumerdirect.gov.uk/

Lin

CHR15

Did the Garage state the car was HPI Clear??

If not, and you didn't pay for your own HPI check, you may have a fight.

It is VERY common for cars to be sold with outstsanding finance, hence the popularity of the HPI check.

there are many cases of people losing the cars they bought in good faith, only for them to be recovered to its rightful owner.

YABBADABBA

Hi
I paid for the car - it was HPI checked by the garage as clear and then my local garage who checked out the car HPI checked it as clear.
When my lawyer contact LBL they said they don't have to register the debt on the HPI - so they have this covered.
So, i thought I was buying an HPI cleared car and the garage may have thought they were selling me the same - however, it had this debt and now the garage wont do anything - they want me to pay the debt and sue them

POSSETTE

the OP prob wont be looking anymore,it was over a year ago this thread was started!!

elaina79

For anyone that has a loan out with log book loans, I recoment taking your agreement to the CAB. I did after my car was repossesed and they were still chasing me for over £1000. It turns out that the agreement was unenforceable despite it being signed and they agreed to stop chasing me for the £1000.
Aparently they are being investigated by trading standards.

xavia66

1st Letter To Logbook


Dear Sir or Madam

I recently took out a loan of £750.00 with Logbook Loans on 13th December 2007 due to hardship and bad credit. I took the loan out at Cash Converters under a company called Log Book Loans. The initial payment was £28.75 each week and since I got paid monthly I paid £128.00 = £28.75 and was surprised to receive a letter that I had defaulted on payment and the amount was £158.00 every month. I continued to pay £158.00 as advised but fell short on 3 occasions of £100.00 -£40.00 and £60.00 but have maintained payments of £158.00 up till Dec 07.

I received a letter regarding default even though I was paying the monthly agreement and wrote to them telling them that I would not want my car to be repossessed and one of their agents came up with a suggestion from head office. Steve the broker advised me that if I could pay £250.00 every month and then re-start the arrangement and the £250.00 a month would cover the default letters they had sent me and then start paying £158.00 every month. I found this very strange indeed. It mean that I was paying 3 times the loan.

I have now received a letter on the 29th January 2009 that I had defaulted and that I would be repossessing my car due to non payment I felt that I have been making payments and called them and asked them for a breakdown of payments and also read them the letter they had sent me and was told that my account had been passed to repossession and there was nothing they could do. The letter I received stated that
“Vehicle repossessions are only undertaken as a last resort and if our bailiffs have not yet contacted you or attended your address you may still be able to avoid the repossession if you contact us immediately in whom I have and was told they could do nothing. I feel that I have paid them double the amount they have lent me and expect me to find £1,100 to keep my car.

2nd Letter To Logbook

Dear Sir or Madam

I recently took out a loan with yourselves for £750.00 with Logbook Loans on 6th December 2007 due to hardship and bad credit. I took the loan out at Cash Converters, West Bromwich under Log Book Loans. The initial payment was £28.75 each week and since I got paid monthly I paid on the 13th Dec 2007 - £28.75 and then 20th Dec 2007 - £28.75 I spoke to Logbook and they agreed this was ok at the time of the loan I produced monthly wage slips as I get paid monthly not weekly logbook are aware of this.

I then received an overdue letter and contacted yourselves and was told that it was a mistake and the fee would be waived . I paid yourselves with payment £28.75 weekly payment = £115.00 but paid £125.58 to clear the loan quicker and then 31st January 2008 for February 2008 payment £115.00 ( weekly £28.75 x 4 = £115.00)
I received a letter regarding defaults even though I was paying the monthly agreement and wrote to yourselves that I would not want my car to be repossessed and one of their agents came up with a suggestion from head office.

Steve the broker advised me that if I could pay £250.00 every month and then re-start the arrangement and the £250.00 a month would cover 3 months of the default letters you had sent me and then start paying £158.00 every month. I found this very strange indeed. It means that I was paying 3 times the loan.

I have now received a letter on the 15/29th January 2009 that I had defaulted and that I would be repossessing my car due to non payment I felt that I have been making payments and called them and asked them for a breakdown of payments and also read them the letter they had sent me and was told that my account had been passed to repossession and there was nothing they could do. The letter I received stated that
“Vehicle repossessions are only undertaken as a last resort and if our bailiffs have not yet contacted you or attended your address you may still be able to avoid the repossession if you contact us immediately in which I have and was told you could do nothing. I feel that I have paid you double the amount you have lent me and expect me to find £1,100 to keep my car. In hindsight I have received constant telephone calls and also letters even when I have paid yourselves the money and it seems that have been making monthly payments and when I do make a shortfall I call yourselves to explain. I have totalled up the amount of telephone calls you advise you have tried to contact me which I do find fraudulent to say the least £12.00 x 52 overdue telephone calls which I haven’t received all those calls and also a payment to yourselves 1000594106 is missing also ...

Breakdown of Payments :

£28.75 13th Jan 07 by book
£28.75 20th Dec 07 by book
£124.58 payment
£115 book payment £28x4 = £115.00
£115 book payment £28x4 = £115.00
£90 shortfall payment
£60 shortfall payment
£156.67 payment
£150 payment
£158 payment
£40 shortfall payment
£160
£158
£100 shortfall payment
£1484.75 Paid to yourselves

£1667.50 - payment on settlement as advised on sheet 2

£182.75 ( I phoned to clear payment and was told that the matter was not in logbooks hands and this was in the hands of the bailiffs.

I am now seeking legal action in regards to this matter and the payment of £12.00 x 52 overdue letters = £648.00 and telephone calls I want to see also a record of all the telephone calls you advise you have sent to me also and a copy of the agreement and the bill of sale which was not mentioned to me when I took out the loan. I was also received a visit from the bailiffs this evening 9th February 2009 in which they threw bricks at my window and shouted me to see them. He said he has a letter of repossession dated 3rd February 2009 in which I have never received and I must pay £1,999 today or lose the car and register it has stolen and they would attend my place of work. I have now seek legal advice from a Solicitor and enclosed the letter also and also contacted Trading Standards into this activity.

3rd Letter To Logbook

Without Prejudice



Dear Sir or Madam,

I have received your letter dated the 13th February 2009, and would like to clarify some further points in regards to the matters regarding my car. When I took out the agreement with the agent you advised me to present 3 pay slips Monthly in which I produced and spoke to the agent in which he advised me that was ok and also spoke to yourselves that I would be paying monthly it seems that there is some miss-communication in regards to the payment which was paid every month it seems apparent that when I have paid I receive a telephone call 3 days later or a day after regarding payment as no one in the office seems to be looking at my account.

Section 2

Payment 1000594106 – enclosed and from NatWest Bank New Street Birmingham dated and stamped by the Bank itself clarifies that the sum of £120.00 dated the 2nd October 2008 was paid and stamped in the Payment book your agent gave me and advise yourselves to check your records yet again as NatWest Bank have stamped and signed it also as Payment Received.

Section 3

You advised myself also that you have previously reviewed the charges of £108.00 worth is this an admission of guilt ? why review the charges when there was not any charges in the 1st place. Although there may be a few missed payments I advised yourself of each and provided you with a breakdown on the enclosed letter which I sent to yourselves on 8th February 2009. I explained these missed payment to your agents who seem to rotate every time ? I made sure I paid something on the account which seemed reasonable as no payment is suffice as the law states “ as long you pay some of monies owed and explain the situation the company should be sympathetic but it seems that in Logbooks case they are not and this reflects in the Consumer Action Groups and Martin Moneytips forum that you perceive yourselves as Loan sharks ..

Section 4

You also advised in your letter that the costs are reflective of the business to pursue late payment so you will send 52 letters to one person and charge £648.00 to make up the payment for the network of staff and also premises? This seems unfair and unreasonable under the Unfair Contracts and Terms Act and this will be highlighted and investigated to the Financial Ombudsman Service.

In my previous letter from my solicitor you have not answered my question in regards to the register of the Bill Of Sale under the contract ? Was the contract registered with the bill of sale and if it was not there was no contract made so therefore the £750.00 initially borrowed from yourselves minus £1,667.50 already paid = £917.00 should be repaid by to myself also with interest.

I wish to point out also so I received a visit from your Bailiffs on the 9th February who came with a letter dated 3rd of February 2009 which I have not received. These 2 gentlemen where not registered bailiffs as they did not show any badges and were not suitably dressed as they had looked like they had been offered some money in the pub to collect my car and I had no intention of handing my car over to them at all. I asked them for their company card and also identification he made a call to someone I said can I speak to them he said NO ! Mobile number his own mobile not a company mobile which is very strange indeed.

I feel that your intimidation tactics are cheap and menacing as the one guy said he will go to my workplace and take the car and report the car as stolen.

Section 5

I also wish to point out Section 5 of your letter in regards to listening to the merit of my complaint as you feel that the amount has not been paid well if you look clearly at the amount on page 2 I have paid the amount up-to date and willing to demonstrate your tactics in court of law and also and make the actions of your company known In the newspapers and willing to go to Press in regards to the governments guidelines on loan sharks and their activities and also be a Champion of helping people who have been intimated and over charged fees by your company.

Although this is maybe your final response to the matter I also have my final response also that I am taking the matter to the Financial Ombudsman to fully investigate this matter and activities of Logbook Loans and also passed this your letter to the Trading Standards and also confident of my ability and solicitors ability to demonstrate this in a Court of Law also.

I have examined fully your contract of Bill Of Sale and feel furthermore that the monies have been paid as per the agreement £1667.50 and your further cost are unreasonable an wish them to be scrapped and the logbook returned to myself and I am willing to forget this experience with yourselves in this matter and come to an amicable solution.

I look forward to hearing from yourselves in regards to this letter and your response
Within 7 days of date of this letter.

@ I have fully paid all the charges of the loan and still awaiting the Logbook to be returned to me and still have to hide my car…@

Yesterdays Conversation with the Baliffs 3rd March 2008

Dear Sir or Madam,

I have received yet another telephone call from one of the bailiffs in which you administered to pursue payment at present, payment has been made to yourselves as per the last recorded letter sent to yourselves and i haven’t received any response or logbook which i want to receive as urgent. The bailiff yet advised me today 3/3/09 regarding another visit and levy charges with yet another number @ and today and threatened me with action if I didn’t hand over the car and swore at me menacing after I sent him a text about harassment.

Txt sent to Bailiff this afternoon after he swore at me
YOU need to contact LOGBOOK LOANS Instead of myself the matter is with them and my solicitors & The Financial Obudsman at present so stop HARRASSING ME or i will start HARRASSING YOU ! does that MAKE IT CLEAR AND CONCISE !:
This will be classed as harassment and will be contacting my solicitor and the police to check into the history regarding this abrupt telephone call. I advised the bailiff that i have contacted yourselves and the matter was in hand with solicitors and now with the financial ombudsman also as you have not responded to my last letter.

I will continue fighting this until Ive won

xavia66

Hi elaina79
Im glad you sorted yours out im have emailed logbook and called them and even paid them in full and they are still chasing me for the payment even thought i have paid them the duration of the loan what they are chasing for his the intrest. I recieved a couple of calls from the baliffs already and he was getting quite angry and menacing so i think on his next visit i will have to knock him out .. I have contacted the Financial Obdudsman who is dealing with my case at the moment.. cheers again

willsonline

Guys, really...nobody should be going down this route of using Log Book Loans. They are a disgrace and totally extortionate. Not matter how hard up you must of been at the time of taking out the loan just think how much you have paid back EXTRA for the priviledge! And worst of all if you lose your car how the hell are you going to get to work.

Its a no brainer really.

I hope everything works out though!

OHnoGotDone

willsonline wrote: »

Guys, really...nobody should be going down this route of using Log Book Loans. They are a disgrace and totally extortionate. Not matter how hard up you must of been at the time of taking out the loan just think how much you have paid back EXTRA for the priviledge! And worst of all if you lose your car how the hell are you going to get to work.

Its a no brainer really.

I hope everything works out though!

To be fair mate this is the only option some people have, I have a bad credit historey and not totaly all my own fault, I used to be self employed and i had two people go under on me with in a month of each other. Between that and the fact my work was getting harder to find i fell behind on payments. I was 22 at the time im now 32 and im still sufering for the mistakes i made and the the others people made that affected me.

So people like log book loans and provident who charge like 189.0% apr, know there the last resourt for some people. Im now in this boat myself I now have a dead car and no way of raising the funds to get another.

With out that car I cant work, with out work I cant pay bills so round and round it goes.

xavia66

We all get ripped off sometime in life and we have to learn but we have to pull together to make sure it dosnt happen again thats why we have a forum on here to help each other !