Please help/ logbook loan and bailiffs! Stressed and so upset!

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

If you were to bother to read the thread properly my friend, you would understand that the complaint centres around several things that the debt collector is not entitled to do.

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Agreed as to approaching the FOS. However, reporting this sort of thing to the Investigations Unit at the FCA is also advisable as they then have the lender on their radar.

The FOS is an arbitrator, whilst the FCA is the regulator. Trading Standards undertake investigations where asked by the FCA.

I agree with ST as to a pro-active approach.

Lets see how this report proactively prevents any further action by DG shall we.

Firstly the FCA will comment that they cannot intervene on individual cases, they will not advise on the outcome of any investigation into the report but may include the information if they receive any other reports.

The FOS will ask if you have made complaint to DG and given the required response time I think currently 30 days, after which you may submit a complaint enclosing their response for consideration.

The Trading standards will ask if there is a BOS issued, which is the only relevant question at this point.

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Lets see how this report proactively prevents any further action by DG shall we.

Firstly the FCA will comment that they cannot intervene on individual cases, they will not advise on the outcome of any investigation into the report but may include the information if they receive any other reports.

The FOS will ask if you have made complaint to DG and given the required response time I think currently 30 days, after which you may submit a complaint enclosing their response for consideration.

The Trading standards will ask if there is a BOS issued, which is the only relevant question at this point.

Required response time is 8 weeks

Have a look at the complaint at the top of this page & see what response time the OP has allowed.

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Required response time is 8 weeks

.

Even better, LOL and this is before they even consider the complaint, very proactive.

[Milo]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Sorry everyone but I have only just read this thread and it would seem that there are a number of problems.

Firstly, I agree with an earlier poster that Shellsj had no right to sell the vehicle as it was legally charged to a Log Book Loan company. That however is in the past and is a lesson to be learnt. Hindsight is a wonderful thing.

The email would seem to be the correct route to advise of a Default and I would urge you to check whether this 'default' has been registered with credit reference agencies and such a notice could seriously hamper your credit rating.

Next (although this is also too late) is that I would NOT have offered to pay £120 per month until...and unless the matter of the additional charges have been addressed.

On the matter of the Bill of Sale it is sadly the case that MANY companies do not properly register the BOS and there is a very simple reason for this. There is a large fee to pay!!! The 'search' fee is indeed now £45 and I would not suggest paying this at present and instead, ask the company to provide EVIDENCE of the registration. If correctly registered...they would have no problem providing the evidence.

With regards to the amount being charged at present it is important to read the samll print in the Agreement signed at the time that you took out the loan.

Lastly, on the matter of the excessive fees only yesterday I received an enquiry from a very distraught lady who had received a solicitor letter to demand immediate payment of £7,981 for the balance of a Pay day Loan taken out 4 years ago. The 'loan' had been for £200 and she paid £110 leaving a balance of £90.

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Even better, LOL and this is before they even consider the complaint, very proactive.

Are you the boards serial misunderstander?

Go back & read post #37.

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Sorry everyone but I have only just read this thread and it would seem that there are a number of problems.

Firstly, I agree with an earlier poster that Shellsj had no right to sell the vehicle as it was legally charged to a Log Book Loan company. That however is in the past and is a lesson to be learnt. Hindsight is a wonderful thing.

The email would seem to be the correct route to advise of a Default and I would urge you to check whether this 'default' has been registered with credit reference agencies and such a notice could seriously hamper your credit rating.

Next (although this is also too late) is that I would NOT have offered to pay £120 per month until...and unless the matter of the additional charges have been addressed.

On the matter of the Bill of Sale it is sadly the case that MANY companies do not properly register the BOS and there is a very simple reason for this. There is a large fee to pay!!! The 'search' fee is indeed now £45 and I would not suggest paying this at present and instead, ask the company to provide EVIDENCE of the registration. If correctly registered...they would have no problem providing the evidence.

With regards to the amount being charged at present it is important to read the samll print in the Agreement signed at the time that you took out the loan.

Lastly, on the matter of the excessive fees only yesterday I received an enquiry from a very distraught lady who had received a solicitor letter to demand immediate payment of £7,981 for the balance of a Pay day Loan taken out 4 years ago. The 'loan' had been for £200 and she paid £110 leaving a balance of £90.

There used to be a reduced fee if you could provide a reference number, is this no longer the case ?

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Are you the boards serial misunderstander?

Go back & read post #37.

I think there is some misunderstanding here but it is not by me on this occaision.

The issue however is related to an action on a bill of sale. This is entirely different to an action based on recovery of sums due under a contract, it is governed by a different statute and the protections issued under the contract are mostly of no effect.

A complaint to regulatory body will not result in collection proceedings taken on a valid bill of sale being halted. (it just will not happen)

The only requirement under the CCA is that the lender issues a default notice prior to commencing collection proceedings, any charges made for collecting goods covered by a bill of sale are entirely arbitrary to the CCA contract, there is no regulation in this respect. This is why it is important to find out if the BOS is in fact effective.

If it is not then the lender has to pursue the debt via enforcement of the agreement, which he can only do after a court hearing and judgment. This means that all the actions taken thus far and thus all charges incurred would be void.

Understandee

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Great

So your advice is the debtor sits at home twiddling her thumbs, exposing herself to further charges & unpleasant visits, on the off chance that the BOS is invalid?

Go & find someone else to nause-I'm done with you.

[bluebottle]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

The regulators take a tough line with excessive/unfair/unlawful fees, often imposing hefty fines on lenders who engage in such practices. Revocation of licences is a last resort or reserved for the more serious cases of abuse. It is no good lenders waving their T & Cs about, claiming, "You agreed, you agreed," when the fees clearly are not accordance with applicable regulations.

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

The regulators take a tough line with excessive/unfair/unlawful fees, often imposing hefty fines on lenders who engage in such practices. Revocation of licences is a last resort or reserved for the more serious cases of abuse. It is no good lenders waving their T & Cs about, claiming, "You agreed, you agreed," when the fees clearly are not accordance with applicable regulations.

Spot on

[shellsj]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Wow a lot gone on this thread since my last post!

Thank you for all the advice so far! I emailed my complaint as well as sent it in hard copy, so I have a trail, and I have had email responses from Varooma and the DG collection company,

Varooma one....

Dear Ms Jones, Thank you for contacting the office today in relation to your account. I am sorry that you have felt the need to write in a formal complaint due to the service you have been provided with. I hope to get this issue rectified as soon as possible for you. The complaint has been passed to me to review and look into. A response will be issued to you in the post within the next 14 days. If I can be of any further assistance in the meat time please do not hesitate to contact me.

Kind regards,
Bradley Clark

Collections and Recovery Manager




DG collections one...

Dear Miss Jones

I am in receipt of your letter of complaint and the contents therein.

However as you may not be aware, a notice of default states the arrears amount due at that time and not the balance of the account. As you have not settled the notice of default , and have now advised us that you had sold the goods, the company would be within their rights to instruct agents on their behalf. The company would then be within their rights to ask that you settle the account in full as you are in breach of the terms and conditions of the agreement between you and Varooma.

The company is not obliged to advise you of the date and time of our visit as we are there to repossess the vehicle, not discuss the arrears. You raised the subject of payment and at this stage we are able to discuss the account with regard to payment as you have instigated the conversation.

Your offer of repayment wasn't received until 14:20hrs on the 29/4/2014, and have not allowed DG collection Services Ltd or Varooma the opportunity to respond. We will ask for clarification of the amounts outstanding, as you have quoted £179 and £370 as the amounts due.

I will await the decision of the company before confirming your offer of payment, and of course they will be required to comply with your request to provide a copy of the Bill Of Sale agreement.

As soon as Varooma respond to your offer of payment, I will be able to contact you by email and advise you of their decision.

Yours faithfully

Barry Green




Thoughts?
The £375 was what I was TOLD I owed by Bradley Clark just before the default notice was issued, then the notice says £179.
And the £120 was offered to Varooma weeks ago, just at that point DG weren't involved.

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Spot on

Yes sometimes they put them in the stocks in the village square and get people to throw fruit.

[Guest]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Wow a lot gone on this thread since my last post!

Thank you for all the advice so far! I emailed my complaint as well as sent it in hard copy, so I have a trail, and I have had email responses from Varooma and the DG collection company,

Varooma one....

Dear Ms Jones, Thank you for contacting the office today in relation to your account. I am sorry that you have felt the need to write in a formal complaint due to the service you have been provided with. I hope to get this issue rectified as soon as possible for you. The complaint has been passed to me to review and look into. A response will be issued to you in the post within the next 14 days. If I can be of any further assistance in the meat time please do not hesitate to contact me.

Kind regards,
Bradley Clark

Collections and Recovery Manager




DG collections one...

Dear Miss Jones

I am in receipt of your letter of complaint and the contents therein.

However as you may not be aware, a notice of default states the arrears amount due at that time and not the balance of the account. As you have not settled the notice of default , and have now advised us that you had sold the goods, the company would be within their rights to instruct agents on their behalf. The company would then be within their rights to ask that you settle the account in full as you are in breach of the terms and conditions of the agreement between you and Varooma.

The company is not obliged to advise you of the date and time of our visit as we are there to repossess the vehicle, not discuss the arrears. You raised the subject of payment and at this stage we are able to discuss the account with regard to payment as you have instigated the conversation.

Your offer of repayment wasn't received until 14:20hrs on the 29/4/2014, and have not allowed DG collection Services Ltd or Varooma the opportunity to respond. We will ask for clarification of the amounts outstanding, as you have quoted £179 and £370 as the amounts due.

I will await the decision of the company before confirming your offer of payment, and of course they will be required to comply with your request to provide a copy of the Bill Of Sale agreement.

As soon as Varooma respond to your offer of payment, I will be able to contact you by email and advise you of their decision.

Yours faithfully

Barry Green




Thoughts?
The £375 was what I was TOLD I owed by Bradley Clark just before the default notice was issued, then the notice says £179.
And the £120 was offered to Varooma weeks ago, just at that point DG weren't involved.

Good they have acknowledged your request for sight of the BOS, a step forward. Just a matter of waiting to see what happens now. If DG calls you can refer them to this and say that you are awaiting confirmation of the debt.

[shellsj]

Re: Please help/ logbook loan and bailiffs! Stressed and so upset!

Good they have acknowledged your request for sight of the BOS, a step forward. Just a matter of waiting to see what happens now. If DG calls you can refer them to this and say that you are awaiting confirmation of the debt.

Yes! Thank you very much :-)

And I will do, but as it was the director who emailed me from DG they will probably just email as they have said I would imagine. Little bit of pressure off until I see the BOS anyway.
When I took the loan out, does the BOS have to be witnessed there and then?