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Log Book Loans caught in "possibly criminal" sham - Investigations
Log Book Loans caught in "possibly criminal" sham - Investigations
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Re: Log Book Loans
As usual, the Office of Faffing and Twaddling seems to be afflicted with cephalo-proctal intromission:
Pretending to be a solicitor when one isn't a solicitor is not "possibly criminal", as it is an offence, contrary to section 21 of the Solicitors Act 1974 - link.The OFT reckoned it had "all the hallmarks of being a sham or device specifically designed to mislead and intimidate consumers into paying" and that it was "possibly criminal". -
Re: Log Book Loans
read the comment made by Peter on below the article, whoever this peter is he is clearly an arrogant prick that has never had any financial hardship, or maybe he is an employee of said company or similar. Just who are the "These People" that hes refering to, he makes it sound like they are a different race of the human species, god i hate toffee noise idiots like him that think they can sit on their high chairs and look down their noises at everyone less fortunate than them. I guess he forgets it the more wealthy people that caused the banking and economic crises with the very same kind of irresponsible lending practices. stick a carrot in front of a donkeys noise and the donkey will follow it, they same applies to humans and money.
Not only that he clearly ignores that fact he does not know why johanne missed the payments, and the fact that despite being the owners of the cars and selling them to recover the arrear they still sought the arrears from the debtor. What a plank he is. (i could think of worser names to call him but they would not be the kind of words that are acceptable in a public forum lol)Please note that this advice is given informally, without liability and without prejudice. Always seek the advice of an insured qualified professional. All my legal and nonlegal knowledge comes from either here (LB),my own personal research and experience and/or as the result of necessity as an Employer and Businessman.
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The Governess; 6th March 2012 GRRRRRRComment
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Re: Log Book Loans
HGi
Just been watching an ad for one of these on the TV,. I noticed that they do not display an APR?
How do they get around the requirements of the act? I know the way the loan works regarding the transfer of ownership but isn’t it usually used as security against cca credit agreement?
PeterComment
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