I bought my new Blob Sti in June after seeing it on PistonHeads. Carried our the usual credit checks and all was well until last Friday.

I received a letter from Logbook loans on 5th Oct stating they own the car and the previous owner has defaulted on the payments. The Consumer Advice Bureau confirmed I wasn't the legal owner and LBL (Logbook Loans) could take the car from me at any time. Nightmare!

Cue a very stressful week, lots of phone calls to LBL and scouring of the Internet trying to find the current home address of the previous owner without driving to Scotland again.

Whilst being completly honest with LBL, I also put in a formal complaint with the Consumer Credit Traders Association (CCTA) about LBL's scaremongering tactics stating they own the car.

The CCTA were spot on and contacted LBL on my behalf outlining their codes of conduct - thankfully today I received a letter from LBL Professional Standards Dep't stating there intention to surrender their right to the vehicle and they will seek to recover costs from the previous owner and not me (By way of the car).

If anyone if in this situation the CCTA are very helpful and any lender MUST adhere to their codes of conduct. It was clear that LBL didn't hence their disclaimer for the car.

A close shave indeed!

__________________________________________________
Regards,

Rob

 

does not sound like you had a good week

 

Great result that mate. Couldn't imagine having my car taken from me due to someone no paying what they owe!!

 

Horrible week. I honestly thought it was going to be uplifted from my drive and had even found a barn in deepest darkest Northumberland to store it whilst the dispute was going on.

Sad as it sounds I couldn't have sold it to pass the buck. Quite proud I sorted it myself without involvong another innocent Scooby lover

 

No hpi check fella?

TX.

 

Yep, all done and clear. The 'default' was after I'd bought it. I think the loan Co breached their codes of conduct by not registering their interests correctly.. Thank f**k.

 

Good news and good advice there.

 

When a guy did a hip check on a car I sold it showed up as money owed still.

Why didn't it show up on yurs. Me Selling the car to the guy released the funds for me to pay the finance and all was happy.

 

I wish I knew why it didn't show up because if it did I wouldn't have had such a horrid time this week. I probably wouldn't have bought the car to be honest but at least it's all sorted now. Next time I buy private I'll make sure I get a better check done instead of the company I used last time.

Rob

 

You could have just kept the money, not paid the finance then he'd be in the sh*t!

TX.

 

That's what the previous owner of my car did.