loan sharks with real teeth

[jules2008]

Hi rang log book loans to get a statement of account and they are happy to send this with a copy of the original agreement.

Apparently my account has finished 19th August so i was suprised that i still owe them £450 apparently and this is for late payment fees and costs.

Has anyone had any experience with these loan sharks and have any advice regarding the extra charges.

will this never end.:cry:

[scottishlass]

Re: loan sharks with real teeth

Hi Jules

Have a read of this Log Book Loans - Legal Beagles

[jules2008]

Re: loan sharks with real teeth

Quote
Moch this is only the tip of the iceberg as there are more ongoing matters involving this firm which, for the time being, cannot be discussed/disclosed on a public forum.

omg what the hell am i suppose to do and has anyone got further info regarding this company and the ongoing matters??

[scottishlass]

Re: loan sharks with real teeth

Jules don't panic........I know easier said than done.........you could contact Righty to have a look at your thread as they seem to know a lot about this company.

[Amy]

Re: loan sharks with real teeth

Jules, do you know what these 'costs' are for? Have you sent them an SAR for your information?

[jules2008]

Re: loan sharks with real teeth

i contacted log book today to say what they hell are they still chasing me for money for when my loan finished on the 19th and they are saying it is for late payment fees in effect they are saying i still owe them exactly what i did from the beginning.

they are sending me a statement of payments made etc and i hope the extra costs will be explained on there but i am not doing anything till i have spoken to righty i have send him a message so hopefully he will be able to fill me in on them especially as there seems to be an investigation regarding them.

[Amy]

Re: loan sharks with real teeth

You need more than the statements of payments made to them. You need all the information they hold on you and you obtain this by sending them an SAR and a cheque for £10.

[jules2008]

Re: loan sharks with real teeth

ok no worries i am on to it if you think it will help.

letter on its way with £10
thanq

[TANZARELLI]

Re: loan sharks with real teeth

Yes send them a full SAR and also place the account formally and officially in dispute.

I would mention that they have no right to visit you at your property maybe add in this to your letter:

OFT rules and regulations clearly state that you can only visit me at my home if you make an appointment and I have no wish to make an appointment with you. Should it be your intention to arrange a "doorstep call, please remember that there is only an implied license under English Common Law for certain people to visit me on my property without express permission; the postman and people asking for directions etc (Armstrong v. Sheppard and Short Ltd [1959] 2 Q.B. per Lord Evershed M.R.). I hereby revoke license under English Common Law for you, or your representatives to visit me at my property and if you do so without my permission, you will then be liable to damages for a tort of trespass. You would also be conspiring in a trespass if you sent someone to visit me nevertheless.

Furthermore If one of your representatives were to come to my door I would ask for the police to attend to remove the representative. Should it be necessary, I will obtain an injunction. I hope I have made myself very clear.

OFT 664 Debt Collection Guidance, Final guidance on unfair business practices, which gives examples of Unfair Business Practices;

“2.2 failing to provide debtors or creditors with information on status of debts, for example, not providing requested balance statements when reasonably requested”.

Also make them aware of the OFT’s position on physical/psychological harassment, again in the OFT 664 Debt Collection Guidance, Final guidance on unfair business practices –

2.5 Putting pressure on debtors or third parties is considered to be oppressive.

2.6 Examples of unfair practices are as follows:
h. ignoring and/or disregarding claims that debts have been settled or are disputed and continuing to make unjustified demands for payment.

Also make them aware of the

Administration of Justice Act 1970 section 40of the act provides that a person commits an offence if, with the object of coercing another person to pay money claimed from the other as a debt due under contract, he or she:

• Harasses the other with demands for payment which by their frequency, or the manner or occasion of their making, or any accompanying threat or publicity are calculated to subject him or his family or household to alarm, distress or humiliation;

• Falsely represents, in relation to the money claimed, that criminal proceedings lie for failure to pay it;

• Falsely represent themselves to be authorised in some official capacity to claim or enforce payment;

• Utters a document falsely represented by him to have some official character or purporting to have some official character, which he knows it has not.

[jules2008]

Re: loan sharks with real teeth

Have just had a statement from ll loans and they are saying that i still owe them £500 that is despite my payments to them of approx £1,400 which i cleared on the 19th august they are still demanding payment off me of £500 which is the exact amount i borrowed in the first place.

This is madness !!!!!!

Apparently the company is being investigated and i am not suprised i am not paying them another penny and i am getting legal advice as to wether they can actually charge this much?

Also i have just found out if i was with a credit union and i borrowed £1000 the interest would be £67 so how can a company like ll loans get away with this????

i am getting legal advice asap on the advice of righty

too righty thats what i say.

why are there so many ******ds out there i cannot believe it to be honest.

[Amethyst]

Re: loan sharks with real teeth

When did you first take out the loan and what was the % rate.

I assume the total you were meant to pay was the £1400 which was the £500 loan plus interest over the period.

The £500 is the disputed amount which was late payment fees and costs.

Have you sent off your SAR and CCA ?

[jules2008]

Re: loan sharks with real teeth

that is correct.

i cant send an SAR as i dont have the money to do so at the moment (not surprising is it) and what is a CCA does this cost money also?
------------------------------- merged -------------------------------
Took out the loan 10th July 2007 and the apr is a staggering 446.1% i was so desperate at the time i did not look at all of this.
I have learnt big time never ever to do this again and be very very careful bout borrowing money etc

they have charged me £12 everytime i have made a late payment and they have phoned me or sent a letter.

i was charged £195 for a commitment fee what the hell is this?

total charge of crdit £750.78
commitment fee??? 195.00
interest 555.78

[Amy]

Re: loan sharks with real teeth

CCA is here http://www.legalbeagles.info/forums/...read.php?t=751 or there is also one in Curlyben's sticky http://www.legalbeagles.info/forums/...ead.php?t=8053 The CCA is £1.

When you have the £10 send the SAR too.

[jules2008]

Re: loan sharks with real teeth

the update is after speaking with righty he has advised alot of people are up in arms about this company.
I have contacted the solicitor who is dealing with alot of cases in conjuction with this company and i am speaking to them on Friday about putting a case together.

thanks again legal beagles :tinysmile_grin_t:

[enaid]

Re: loan sharks with real teeth

All the best with this jules, please keep us informed as to what's happening Enaid x