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Log book loan partial settlement
lookingforthelight
Posts: 140 Forumite
in Loans
Hi,
I have a log book loan with Zoom Zoom.
I have been paying a reduced monthly payment for the last 3 months but now may be able to settle early but not for the whole amount outstanding. May only be able to settle 80%.
Has anyone had any success with making a partial settlement with a log book loan conmpany?
P.S Do they report to credit reference agencies?
Thanks
I have a log book loan with Zoom Zoom.
I have been paying a reduced monthly payment for the last 3 months but now may be able to settle early but not for the whole amount outstanding. May only be able to settle 80%.
Has anyone had any success with making a partial settlement with a log book loan conmpany?
P.S Do they report to credit reference agencies?
Thanks
0
Comments
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MobileMoney absolutely refused to entertain anything except the full amount.
They did not report to a CRA though.
HBS x"I believe in ordinary acts of bravery, in the courage that drives one person to stand up for another."
"It's easy to know what you're against, quite another to know what you're for."
#Bremainer0 -
Is the loan secured/ If so why would they settle for less?0
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Yes, it's secured on your car - so the only way they will settle for less is if your car is worth less than the settlement. Which it prooooobably won't be.
HBS x"I believe in ordinary acts of bravery, in the courage that drives one person to stand up for another."
"It's easy to know what you're against, quite another to know what you're for."
#Bremainer0
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