Log Book Loans - Can anyone help???

[nellie75]

When I called them they said they owned the car because they had a bill of sale signed by me, I don't remember signing anything like that at all and don't trust them, the whole company is 'dodgy' for want of a stronger word;)

 

I am lucky enough not to have any money problems at all longterm and only went to them as I was stuck for time but what has happened since has been totally unbelievable, alot of it has not been posted on here for legal reasons, I have had my lawyers onto them for a long time and they have walked into a really big trap now. My cousin is an editor for a major newspaper and is planning a huge story as soon as we get them into court - which is very soon:D. I have also been in email contact with a major prime time TV show since my problems began and I am going to London for a meeting with them in 2 weeks. There are serious legal flaws in just about everything they do, they cut corners to save money and their prime focus is on people with no way out and they take great pleasure in sticking the knife in and keep on twisting untill they get what they wanted from the very start - your car. They are in business for this sole reason and have seperate websites advertising cars for sale and coming soon sections. The whole thing is sick and twisted and it is about time the nation knew or more importantly warned just exactly whats going on.

 

In all seriousness and avoiding elaborate statements, its just not fair that people suffer at the hands of these people and my campaign has been, and will be from now on to obtain as much exposure as humanly possible about this company. I am lucky enough to know the right people which means I have already put wheels in motion, we have just been waiting for them to walk into their own trap really.

 

They think they know who I am and have been reading this forum thinking they are one step ahead but they will be in for a shock.

 

I am in the process of starting a national survey sponsored by a major retail organisation who have been outraged by stories that they have been told about this company. I have various bodies involved, including trading standards etc and have written to head office of CAB to make sure their staff are aware of this company, to warn anyone in debt not to consider this type of loan. I also have a facility agreed to send emails avoiding spam to every email user with one of the biggest internet companies on the WWW which I plan to get endorsed by every major body in the UK.

 

Anyone reading this that wishes to tell their story to be included in campaign, please let me know, this can be done via this website to protect identity if possible.

 

I have been close to becoming bankrupt but then have built up a very sucessfull business so I am now lucky enough to have the funds to take this company on and look forward to doing so. There are 6 of us involved so far and I will be doing this as a full time job untill this company are brought to justice.

 

Starting a new thread today due to my campaign commencing publicly now:D

[anon2]

I really respect your ambition and determination.

 

I will say though, that the only problem I have with this company is the fact that they have registered their interest with HPI and I want this lifted.

 

I cant complain about the interest because I did sign the agreement and knew what I was getting myself into.

 

Look forward to watching this space.

[nellie75]

Hi All

 

I am in the process of starting various campaigns against this company as explained in my own personal thread - Logbook loans can anyone help??? As part of these campaigns I will be having talks with various national media organisations as well as various government bodies to raise awareness of this company.

 

My aim is basically to warn people so nobody else suffers as I did and friends I have made through this site have. All stories will help paint a picture from the other side of the fence, where we have all been sitting.

 

All experiences can be submitted on this thread via this forum to protect identity if possible and no personal details whatsoever will be required.

 

I would say I hope to hear from you but sad fact is that if I do, you are only to aware why I am starting this campaign

 

Many Thanks

[attdt25]

hi i am currently pursuing lbl and quite happy to get involved in bringing them to justice i have had second sarcastic letter from them basically telling me to go away (as a response to me asking for a refund of the extremely high charges they have charged me with ) so from next week will be commencing my claim through the courts and cant wait have started my own thread but not had much feedback as yet so eager to join forces good luck keep us posted........attdt:rolleyes:

[nellie75]

Yes I do see that, and wasn't being nasty when i said - get off my thread, it was said in a jokey way!! - as you know when you start a thread they inform you by email everytime somebody posts on it so i was getting loads of emails prompting me to visit which were not about my situation thats all.

 

Although I did query at some point why they did have rights to register with HPI although I had no plans to sell car or anything. My fight was purely for more time to pay in which I have suffered harrassment and stress beyond reasonable belief, all while expecting a baby.

 

My thread has been viewed over 1000 times so its seems there are alot of people who have suffered so I have started the new thread asking for experiences to help with campaign.

 

Good luck with your legal advice - the law society where very helpfull when I was looking for the right solicitor, and my situation major complicated and i found one who is experienced in all aspects of my personal fight with them.

[attdt25]

hi i am currently pursuing lbl and quite happy to get involved in bringing them to justice i have had second sarcastic letter from them basically telling me to go away (as a response to me asking for a refund of the extremely high charges they have charged me with ) so from next week will be commencing my claim through the courts and cant wait have started my own thread but not had much feedback as yet so eager to join forces good luck keep us posted........attdt:rolleyes:

[JonCris]

Inform HPI that they have unlawfully registered your vehicle as being on HP when it is not. You still retain full title & unless they remove the false data you will report them to the ICO Also send a DPA letter telling them to stop supplying & remove all data as they do not nor have ever had your permission to collect or transmit said data

[nellie75]

hi i am currently pursuing lbl and quite happy to get involved in bringing them to justice i have had second sarcastic letter from them basically telling me to go away (as a response to me asking for a refund of the extremely high charges they have charged me with ) so from next week will be commencing my claim through the courts and cant wait have started my own thread but not had much feedback as yet so eager to join forces good luck keep us posted........attdt:rolleyes:

 

Hi There

 

Sorry you have had so much trouble with them also, can't say I am suprised at all mate, been on recieving end of their 'couldn't care less' attitude more times than i care to remember.

 

Their charges on all aspects of their service will be something I will be challenging on my campaign so if you could post your story on the new thread I will make sure your heard. Its hard to get advice on them because they just ignore you or tell you to 'go away' so its difficult to know what to do - at least they want you to think like that

[Boobaby]

Hi All

 

I am in the process of starting various campaigns against this company as explained in my own personal thread - Logbook loans can anyone help??? As part of these campaigns I will be having talks with various national media organisations as well as various government bodies to raise awareness of this company.

 

My aim is basically to warn people so nobody else suffers as I did and friends I have made through this site have. All stories will help paint a picture from the other side of the fence, where we have all been sitting.

 

All experiences can be submitted on this thread via this forum to protect identity if possible and no personal details whatsoever will be required.

 

I would say I hope to hear from you but sad fact is that if I do, you are only to aware why I am starting this campaign

 

Many Thanks

 

Hi Nell it's Boo, by all means use my story, nowhere near as bad as all the others but I am submitting Court claim for just over £1200 next week (which also includes illegal repossession fees - as not court issued and not repossessed!!).

You go girl I am behind you 110% if you need anything from me or any assistance let me know...

Boo x

[nellie75]

Has anyone had dealings with this company or know anything about them??

[nellie75]

What letter do i send to LbL to get them to send me copies of all agreements I signed etc, asked for these about 10 times, suprise suprise they have no record of requests!! I signed the agreements in my home and the girl left me no copies of anything apart from payment book and contact number sheet. My partner is witness to this and he reminded me she said she would put copy agreements in the post - yeah rrrrrright!! Want to have all docs when I go to solicitors to fight my own little case.

 

On the bigger scale, have meeting with trading standards on wednesday and 3 media organisation shortly after, i am going to ask them to hold off til i get some more posts on my new thread - get some more amo heehe!!.

 

will keep u all posted

[JonCris]

The CCA sec 77-79 (the section that refers to fixed credit) request which you will find in the templates. Remove the bit about assignments

[elsinore]

They specialise in asset recovery e.g. motor vehicles, but probably will take on anything for a fast buck. Based in Brompton on Swale, Richmond, N.Yorkshire.

GEMININI INTERNATIONAL UK LTD -debt recovery, repossessions. UK, Europe. but it won't tell you much!

 

Elsinore

[anon2]

Hi Everyone

 

Just to say that I have spoken to HPI today regarding the 'outstanding finance' on my vehicle.

 

Accordling to HPI the agreement I have with Log Book Loans is registered as a 'lease' and not a 'personal loan'. Does anyone know where I go from here to have this removed from my cars history?

 

Many Thanks

[JonCris]

OK lets see the "lease"

[alibobsy]

Wish we had come to these boards a few months sooner as we wouldn't have taken out a loan with these guys at all had we seen the problems other people have had. I have to say tho so far we have had no probs. The guy who sold us our loan was very good, he pointed out the penalty fees in the contract and the high interest rate. He went thro each doc in turn and gave us time to read each one before we signed. We got copies straight away and the payments were explained to us. On a couple of times we had a problem with making that weeks payment we rang them up before the payday and arranged to pay double the next week (hubby gets paid mid month, i get paid end of month) with no problems. However have seen peoples stories on here I realise you really don't want to get into problems with these people.

I think part of the problems seem to stem from the way the loan is sorted out. The guy who saw us explained they are selfemployed and work on commision, so sadly a "bad" salesperson could be encouraged to "obscure" the true facts about the loan to make the sale. This seems to have happened to a few people on here.

I'm not trying to defend this company by the way lol. Just telling my experience so far. Just glad we only borrowed a small amount which will be paid off early next year.

Andrew just wondering have you asked lbl about the hpi situation, they may have cocked up and could just remove the entry?

Good Luck!

ali:)

[hhhhmmmm....]

To all of those with gripes open your eyes and stop being bitter about something you caused yourselves - I have used this company as a quick source of funds for property deposits with absolutely no problems and would always, and will, use them again. The reps are not sharks or salesmen, quite the opposite in fact. I have dealt with a few different reps...... andy who was really efficient and a nice chap , ged?? i think was a bit of a geezer but helpful, and nick who was new but was really clued up. Any of those ring any bells? So to say they are commision grabbing is unfair...are you sure you questioned the rep fully on any problems or issues you didnt understand?

 

To be fair I think you guys need to look at your reasons for using lbl in the first place - if you cant get finance elsewhere you cannot have your cake and eat it and therefore have to pay over the norm for financial products. They are like ronseal - it does exactly what it says on the tin.

And i'm sure the rep didnt hold you at gunpoint and make you sign - you must have been free to read the small print and the T&C's so know exactly what you are entering in the agreement. I agree the action charges are ludicrous but why enter into an agreement knowing you might default or incur such charges??!!. The problem is that we, the good old British consumers, are lazy and want our bottoms wiped and dont use initiative when dealing with matters that we think we understnd but dont. The company with the best will in the world would be foolish and naive to lend at reasonable rates on someone they have no references on. And companies do have objectives to make profit believe it on not - if you dont like the rates then say so,,,,,be proactive and upfront rather than complaining when things go worng.

 

And they do have permission to add an 'interest' on the hpi system, which is removed by lbl once the agreement is clear - i never had any issues with this and needed the logbook back for taxing before the new keeper doc came into place and the girls at the putney office, think thats where it is, were always very helpful and true to their word with timescales.

 

I believe they are run by an ex cash converters director, and financed by a very wealthy property investor / consortium and sure they are coining it in and fair paly!! I would always use them again and have recommended them to friends who have used them as bridging finance in the short term. I agree the rates are high but not having credit scoring and sameday payout in a big plus point over unsecured and secured home owner lending.

 

I would recommend them as an alternative and quite unique way of raising finance - but be sure to question the reps and read all the documents carefully and dont sign if you are in doubt. Sorry to upset the applecart of this forum!!

 

Regards.......a rare satisfied customer!!

 

p.s VJR - try to shy away from quoting off websites and plagerising financial articles..........do you have any original thoughts of your own? A bill of sale for your reference is a cast iron agreement sanctioned and registered by the royal courts of justice. I doubt whether O.J Simpsons lawyers could find a way round shifting ownership of the agreement and lbl having no vehicle rights.................

[Rob S]

You forgot to add......................

 

"I have no other connection with Log Book Loans other than being a very satisfied customer";)

[Boobaby]

I believe they are run by an ex cash converters director, and financed by a very wealthy property investor / consortium and sure they are coining it in and fair paly!! I would always use them again and have recommended them to friends who have used them as bridging finance in the short term. I agree the rates are high but not having credit scoring and sameday payout in a big plus point over unsecured and secured home owner lending.

 

I would recommend them as an alternative and quite unique way of raising finance - but be sure to question the reps and read all the documents carefully and dont sign if you are in doubt. Sorry to upset the applecart of this forum!!

 

Regards.......a rare satisfied customer!!

 

p.s VJR - try to shy away from quoting off websites and plagerising financial articles..........do you have any original thoughts of your own? A bill of sale for your reference is a cast iron agreement sanctioned and registered by the royal courts of justice. I doubt whether O.J Simpsons lawyers could find a way round shifting ownership of the agreement and lbl having no vehicle rights.................

 

And you are using this site because?

 

Can I also suggest you open a thread of your own you obviously have invaluable information to impart to those many people who have benefited from such a worthwhile and generous organisation.....

[Whisperwolf]

Whether or not LBL works for someone is not the issue here, Hmmm (who I am thinking might be simply trolling this particular thread) - People who are in a desperate situation will take risks because that is often the only option left to them. The BBC posted an article recently saying that with student loan repayments and other debts, under 30 year olds were effectively paying nearly 45% tax. If you've got a family to support, you will take risks.

 

I'm also interested in reading the diary of Sayara Beg, a correspondant writing for the BBC on her experiences with companies that deal with desperate folks (her first entry can be found at BBC NEWS | Business | Reader diary: Dealing with my debt ) who points out that even the best positioned people can run afoul of companies that pursue debts unscrupulously at the expense of the low income customer. She had a good job and even a second house she was planning to rent out until she got pregnant, whereupon she was sacked. She did EVERYTHING by the book, including talking to debt councellors and trying to reach an agreement to those she suddenly discovered she couldn't pay, and what did she run up against? A brick wall.

 

It's therefore irresponsible to just dismiss people's worries with a sneered "You knew what you were getting into so it's all your fault" because often salesmen can pretend to give the answers during a good sales pitch and often prefer to give verbal answers rather than let the customer read the documentation. Of course, when they've gone, it's the signed document that is binding in law, not the answers given by the salesman. If they turned out to be a pack of lies, the document still holds the lawful position.

 

Let's not let this thread degenerate into a slanging match. People have genuine concerns, and though LBL obviously do have satisfied customers, with all due respect this forum is about the times a company does NOT satisfy their customers, so it's those people with bad experiences or with legitimate questions that we'd like to hear from.

[hhhhmmmm....]

sorry to disillusion you rob but its actually quite suprising what you can pick up with a few questions when you sign up!!

 

finance is not really my cup of tea...........

[MARTIN3030]

Ok lets settle down !!

 

I will be watching this thread.

[hhhhmmmm....]

fair point,,,,,no offense meant

[v_j_r]

@hhhhmmmm:

 

Ohhhhh look yet another just joined newbie!. I can assure you that all the information i have posted here on this forum is of first hand experience with Lbl Ltd and there antics in the sub prime consumer credit market.

 

Most if not all people who have had problems have been given or advised from as i said from first hand knowledge, and in combination of actual documents i hold here inc the duly signed and agreed "Confidentiality agreement" ,i am about to contact the head honcho a Mr D E***s as i have intentions to make available on this forum or otherwise documents including the aforementioned "NDA" to include media etc in a campaign on this website i do sincerely hope this comes to fruition, i am at present just watching for things to liven up a bit? this and all documents are genuine they are not trawled as you imply nor does the information come from websites.

 

You would also be well advised to be a little bit more prudent in your statements here as i have given only one person via pm some financial info and/or where to find such information!, he/She has not been back here since?.

 

What i do know is and the proof is available that i have here that Lbl Ltd and/or franchise(s) was operating illegally from 1999-2004, thats a long time trading in that position. I also know that a certain person made a statement to an official body that no loans or agreements were taken out under the "Log book loans" trading name on or before 2001, now thats plain bo**ox as i was one of the people who have or had agreements in 1998/9 they were also in the same position in 2004 it's all here waiting!.:o

[anon2]

You forgot to add......................

 

"I have no other connection with Log Book Loans other than being a very satisfied customer";)

 

LOL