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Logbook loans
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The Log book loan company takes temporary ownership of the vehicle until their finance is paid off.
For the duration of the loan, the vehicle does not belong to the borrower.
DDDebt Doctor, Debt caseworker, Citizens' Advice Bureau .
Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***0 -
Conflicting views.....A log book loan isn’t HPI, it’s just a secured loan. So the car could be seized and sold, and the outstanding debt satisfied when sold.debt_doctor wrote: »The Log book loan company takes temporary ownership of the vehicle until their finance is paid off.
For the duration of the loan, the vehicle does not belong to the borrower.
DD
Confusion can be your best ally sometimesNow we all know how it felt to play in the band on the Titanic...0 -
I know who I would believe........0
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luvchocolate wrote: »I know who I would believe........
I know LL do repo cars if the payments are not made...(ive bought some cheap at auctions)Now we all know how it felt to play in the band on the Titanic...0
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