logbook loans

happyhols_2

Please help,help,help
i have got a letter from them saying they are going to repossess the car-i have called them twice to try to negotiate bur they treat me like dirt.what do i do please??

CHR15

Explain what is happening??

happyhols_2

i have had a letter to say that they have instructed Bailiffs to take my car but if i haven't heard from (which i haven't) then i should contact them.i called twice to try to make a payment arrangement but they don't want to know

Browntoa

how much behind are you with payments and what amount do you owe

how much was the original loan

which company ??

someone will come by with sensible answers in a while

happyhols_2

i originally borrowed £1500 in october 2008.
I still owe £1949 plus all these charges listed of £1000

Browntoa

I see you posted in this other thread

http://forums.moneysavingexpert.com/showthread.html?p=26966123&highlight=#post26966123

back in November so I can see the company , looks like you are a few months behind

I'd follow what was advised in this post , number 23

http://forums.moneysavingexpert.com/showthread.html?p=26966123&highlight=#post26966123

happyhols_2

i have been trying to pay £200 per month which i have done but couldn't pay at the end of December.I will be able to start at the end of January.

Browntoa

post for advice over on the Debt part of the forum

http://forums.moneysavingexpert.com/forumdisplay.html?f=76

they will be able to give you better advice about the debt

iolanthe07

Log book type loans are a terrible idea from a borrowers point of view, and the OFT are looking into making them illegal. They do have the right to re-possess your car under current legislation, so hide it somewhere. It is very important to keep strictly to the terms of these loans and never miss a payment or be late with one.