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Logbook loan advice - no paperwork
rapunzelz86
Posts: 561 Forumite
in Loans
Hi all
I'm just hoping for some advice regarding a logbook loan I took out last summer- very silly I know but desperate times.
I recently asked for a statement of some kind because there's no online portal or any way for me to see what's left to pay, other than the original agreement and obviously my bank statements to show what I've paid since taking it out. I've requested it several times with no joy, both by telephone and by email. I did get sent a list of my payments which was just a list of how much on what date, the same I can see on my bank. I also got a letter stating how much it would be to clear the balance right now.
But no "running" balance of sorts, like how much it's reducing each month and what the balance is as it stands should I continue with the loan term
Am I right in thinking they have to give me this? If so, is it concerning that they're ignoring my repeated requests for it? I just want a clear picture of where I am with this debt and can't seem to get anywhere with them. Any advice greatly appreciated. The company is Car Cashpoint. Thanks in advance x
I'm just hoping for some advice regarding a logbook loan I took out last summer- very silly I know but desperate times.
I recently asked for a statement of some kind because there's no online portal or any way for me to see what's left to pay, other than the original agreement and obviously my bank statements to show what I've paid since taking it out. I've requested it several times with no joy, both by telephone and by email. I did get sent a list of my payments which was just a list of how much on what date, the same I can see on my bank. I also got a letter stating how much it would be to clear the balance right now.
But no "running" balance of sorts, like how much it's reducing each month and what the balance is as it stands should I continue with the loan term
Am I right in thinking they have to give me this? If so, is it concerning that they're ignoring my repeated requests for it? I just want a clear picture of where I am with this debt and can't seem to get anywhere with them. Any advice greatly appreciated. The company is Car Cashpoint. Thanks in advance x
Everyone who thanks me when ive helped will get a 5% share when I win this weeks Euromillions......:p
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Comments
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I don't think you have any right to any particular documentation.
Remember these are regulated under Bills of Sale Acts dating to the 1840s, before cars were invented.
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Hi, thanks for your reply, I was not aware of this! So there's no regulation on them at all? How do I know they won't fabricate figures as we go along?fatbelly said:I don't think you have any right to any particular documentation.
Remember these are not regulated under the Consumer Credit Act but Bills of Sale Acts dating to the 1840s, before cars were invented.Everyone who thanks me when ive helped will get a 5% share when I win this weeks Euromillions......:p0 -
You should have your original agreements and both sides should stick to that.
The FOS can look at individual cases once you have complained to the lender (have to give them 8 weeks to reply)
There is more info here
https://www.nationaldebtline.org/fact-sheet-library/bill-of-sale-ew/
I wasn't correct to say that the CCA doesn't apply so i've deleted that bit0
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