Logbook loans trouble

shanook79

Hello massive idiot here,
I got a logbook loan out two months ago for £1000, then I went away with my job and was away longer then I expected I work for shelter box....so was in another country.
when I got home I had loads of letters from loogbook saying i had fallen into arrers, so i was abit puzzled as i should of had money in the bank to pay the standing order. Went to the bank...no money in my account!!!! reason was while away my working family tax has been stopped and of course being away I wasnt aware.
The last letter I read was demanding £2800 which of course I havent got, I have just read some of the horror stories on here and feel rather sick to say im worrying is an understatement.
Will they allow me to pay to bring my balance up to date?
what can i do?
Please help didnt sleep last night.

dane-katie

Im guessing the OP means pay off the arrears, not the balance.

shanook79

Sorry if it sounded confusing only got back saturday afternoon after a 12 hour flight and a four hour trip from london. Arrived home to all these letters demanding money and didn't sleep last night. What I was asking was weather they would allow me to pay off the finale amount in insalments, or better still pay my arrers. Unable to speak to anyone at logbook today. Plus I'm back at the office writing my report today.
Thank you for any advice

sharpy2010

I would suggest that rather than asking us what they MIGHT accept, speak to the people at the company and find out what they WILL accept.

Good luck!

sassy_one

My advice remains simple on this, I would strong advise AGAINST ever using LogBook loans, have you seen there APR???

BLT_2

sassy-one wrote: »

My advice remains simple on this, I would strong advise AGAINST ever using LogBook loans, have you seen there APR???

Wow, how freaking useful is that advice, and it really answers the question posed.

If Sassy saw a drowning man he would row past him shouting 'you should have learned to swim'

shanook79

Oh well not very helpful, haven't had chance to speak to anyone at logbook since i got home, came on here for advice before I made the phonecall today! Thought someone may of offered advice as to what I could say or what I mightbe up against.
oh well I will know better next time, thought this was ment to be a friendly site for people in need of advice from others who had found themselves in the same boat, I guess some people come on here to make people feel worse then they already do.
Cheers:T

ethan1066

though their apr is very high but in some situations they are useful ..and in fact they have some positive uses..

shanook79

Just a quick update, contacted LBL about 10 minutes ago, who allowed me to pay off arrers and carry on with payments as normal. I found them to be perfectly nice about the whole situation and have forwarded everything to me by email so I have proof of our aggrement!!! Looking forward to a nice sleep tonight :beer::j

epsilondraconis

That's great news Shanook79. One thing that I would recommend is to write a letter to the company describing in as much detail as you can the agreement you agreed with them (in the letter include the name of the person you spoke to on the phone). Ask them to confirm the deal you have agreed with them when they reply to you so you have a letter from them containing the agreed deal.

Good luck.

Silvafox

Well done, just goes to show that some companies aren't as bad as they seem when you simply speak to them.

Happy for you.