log book loans - can i sell the car?

[Roscovitch]

For what it's worth. They,(LBL), are upsetting a lot of people in Northern Ireland too. The only thing is that recently I heard, (through very reliable sources) that "something will be done".

Just what that something is I couldn't say but knowing the terms used as I do: I would say it could be trouble of a very different kind.

The way I see it is that if they are going to use this kind of pressure on people then they deserve everything they get.

[JonCris]

I had a message on my answer phone today stating that lbl will be contacting the police stating that the vehicle has been stolen if i dont pay up or hand over the car,

 

so what should i do, can they call the police & say i've stolen it ?

 

thanks in advance

 

 

If they do tell the police they have had their time wasted as your in dispute with LBL "it's a civil matter" as the police are so often happy to tell victims when they complian to them about LBL

[Fleeced73]

Not in any of the cases I've been privvy to. Unless those Bills Of Sale are adequately explained at the time of signing, signatures witnessed correctly & then lodged at the High Court within the correct timescale they are not legally binding. Which I'm sure LBL realise.... unless you're suggesting they have paid an increasing amount of individual litigants thousands in out-of-court settlements out of the goodness of their collective heart?

 

 

They are valid,as far as i am aware

[Fleeced73]

Everybody should be aware that line (and similar) are standard claptrap from LBL collectors. As JonCris has said, when the boot is on the other foot it's definitely a civil matter and so it is when they are looking for your car. I've heard it all and it's all absolute unlawful nonsense - which, if we're going to pedantic, also means that the seizure's are unlawful too.

The only a reason anyone has the police in tow when repo'ing is to prevent a breach of the peace, LBL agents aren't too keen with breaches of the peace but aren't too keen on police involvement either hence their clandestine methods of seizure at unlawful hours of the day/night

 

I had a message on my answer phone today stating that lbl will be contacting the police stating that the vehicle has been stolen if i dont pay up or hand over the car,

 

so what should i do, can they call the police & say i've stolen it ?

 

thanks in advance

[tbuyer]

I (unfortunately) took out a new LogBookLoan on october 5th (though knew the charges, and agreed/happy with the amount to pay back)...

However, i have just been informed by my Insurance Company (SwiftCover), that since then I havent been insured, and it is now cancelled, and I will need to find new cover, if I can.

Apparently, because of the Bill Of Sale, LBL, are the Legal Owners of the vehicle, which isnt what the earlier posts said.

 

Has anyone advice re. getting some Insurance if they are the Owners 9I assume I am still the registered Keeper?)

[ukdeveloper]

tbuyer

 

have a peek at the forum, there is a thread already regarding this and makes VERY interesting reading

 

UKD

[Booglehoop]

Wow, have been reading these posts about lbl for a few hours as I received a letter from them in the post this morning about a car I bought 6 months ago that appears to belong to them. It seems that a previous owner of the car took out a lbl loan then sold the car on which eventually ended up being purchased by me. Forgive me if I dribble on a bit, but I want to submit as much info as possible to get a more thorough response as to what to do. This is the letter I received.

 

We have been made aware that you are the current keeper of vehicle **** ***. We would like to advise you that we are currently seeking to repossess this vehicle. The vehicle was signed over to Logbook Loans by way of Bill of Sale. The vehicle is therefore our legal property and any individual purporting to sell the vehicle to you would have done so illegally.

 

Please contact us immediately on blah blah blah to arrange the surrender of the vehicle or to make payment to us to release our interest, as this vehicle is due to be repossessed.

 

Kind Regards

 

I gave them a call and, after the initial shock and few strong words at a high volume, I told them to come and fetch it as I wasn't prepared to pay for a car I'd already paid for. They then suggested that to save on recovery costs they would sell it back to me at "book" price. Very kind I thought. I told them that I had actually bought it as work car and that it is in a rather poor physical state which is why I got it so cheap, although I never mentioned how much. They then suggested I take photo's of it and email them to them, which I did. Had no reply from them as yet.

 

My question or questions are:

 

1, What are my rights to the car if they are not a HP company?

2, I have spent money servicing/repairing etc, can I bill them for looking after their property, if not for parts but for my labour?

3, I don't mind losing the car as the cost was nowhere what others have paid (my complete sympathies to you folks) can I advise them to collect it and wash my hands of it?

4, Should I leave it somewhere, notify them of where it is, send the logbook to the dvla and register lbl as the new keeper?

 

I have absolutely no intention of paying another penny for it, and to be honest, as good and reliable as it is, would rather get rid of it now.

I can't drive it now anyway as this has invalidated my insurance; I checked.

 

Interested in your thoughts as I didn't take out the loan in the first place.

 

Just a thought but, isn't it time the DVLA put the name of the owner on the V5 as well as the keeper? Surely this would solve alot of this nonsense. If it's on HP the logbook should say so. Who the finance is with and when it's due to be released from HP? Or be registered to the HP company until paid for? It's not rocket surgery; is it?

 

 

I have no problem with the guy I bought it from at all and won't be pursuing him for my money back as he had been conned as well.

[jfuk06]

To be honest i don't know much about the leagal side, but on considering your options..they will pursue you for this car and believe me they are ruthless. The person who sold you the car said they were conned! and in turn they stiched you up..wow what a friend..i pursume you didn't run a credit check on it..from your thread you said the car wasn't in good condition, lbl normally take cars that are in fairly good condition..and if they want money to cut their losses they will be wanting probably more than what you brought it for as there intrest rates are sky high!!

I sugguest you try and come to a deal with your friend who sold it to you!!

sorry i can't be more helpful!!