Logbook Loans advice

jon09

duggie1982 wrote: »

I believe the loan is still payable as you would have signed a credit agreement with them. If you stop paying then they can still take legal action to recover the amount but dont think they can take your car now since you have the log book. Im sure someone will be along shortly to help.

P.S. We do get alot of trolls on here.

It it my understanding that with Log Book Loans there is no credit agreement... but instead, a Bill of Sale.

There has been some recent press about moves to ban these type of loans. About time as well!!

campez

any more info on logbook loans . still hiding my car would love to drive it again but scared of those meatheads log book send to your house they accused me of trying to run him down and phoned the police .i told them he jumped on my bonnet which he did but i didnt stop cos i was scared.whoes fault is that then.

campez

oh wat bullies they are

jon09

Correct me if I'm wrong but....

Technically, as you signed a Bill of Sale rather than a credit agreement, Log Book Loans own your car. You are just keeping hold of it untill you can pay the loan back.

campez

i dont know thats why im asking for help

campez

campez wrote: »

any more info on logbook loans . still hiding my car would love to drive it again but scared of those meatheads log book send to your house they accused me of trying to run him down and phoned the police .i told them he jumped on my bonnet which he did but i didnt stop cos i was scared.whoes fault is that then.

stupid men jumpping on cars

jon09

Could you not just pay the balance?

campez

no my deer i have no monie cos i lost my job

campez

made offer of payment but they refused

jon09

What about putting on your new reg now.... Will they know the difference?