Urgent Help Please Lbl

[cocococo]

I know I have been stupid now dealing with this company but was desperate at the time , now in deep**** with these people.
To cut a long story short we took out a loan with these my husband had an accident had surgery and off work for 3 months so couldnt keep up repayments.
We contacted LBL advising them of situation and if they could offer reduced payments which they sent a letter saying yes will accept £30 per week for 4 weeks then review first payment to be made on 29th March which I thought fair enough.
Now today I am sat in tears as dont know what today because in todays post got a letter from them FINAL DEMAND and issuing a default notice and that I have until 12/04 to pay £250.28 which is the arrears other wise they will come and take car.
Please somebody help urgently

[lbl]

Nobody is going to call you stupid here - We'll just help if we can.

Do you still have a copy of the letter agreeing to the reduced payments starting on 29th March?

Did you make the first payment yesterday?


If you made the first payment as agreed, then the chances are that the letter was automated. Ring them and quote the payment information.

Please - (if Your username is your real name) - PM a mod and ask for a change of user name before responding - Logbook Loans watch this forum.

[barbs26]

Hi, As lbl said no one is going to call you stupid,there's quite alot of us on this site that have all been there, me included to extent of worse case scenario where they did take my car.Take some time and read all the threads relating to log book loans on site.And please do as lbl said and change username (if its your real name )as lbl do monitor site and read threads, so they would know what you are planning to do next and hit you hard before you have chance to do anything.If you need any information before you get chance to change username you can pm any of us.We are all here to give as much help,advice and support as needed.Keep us informed of any developments,and try and keep sane (i know its hard).
cheers Barbs26.

[lbl]

Hi cocococo - glad you have changed your username. Any developments?

[cocococo]

Hi , sorry for delay in responding LBL , i have today received a letter off them and am so worried as I my husband needs car to get to work.
This is the letter we have received

we wrote to you on 29/03/2007 explaining that if you did not comply with the default notice that you would be liable for the total amount due under the agreement , that we would be entitled to seize the vehicle and the agreement would be terminated.
As you have failed to comply with the default notice , we are confirming that the agreement has been terminated as of 13 April 2007 and the payment of the outstanding sum of £1,979.96 is immediately required.

Now as I stated in earlier posts about husbands sickness and Logbook loans agreeing that we could pay £30.00 per week which we paid the first week and I wrote and emailed Logbook loans again advising them that we will pay this monthly as this is when we get money and before all this trouble started we paid monthly , so I didnt think it would be a problem.
But now we have received this termination notice today.
Please help someone.

[lbl]

The problem is, that if you pay monthly, Logbook Loans expect it to be monthly in advance. Are you in a position to pay them anything at all?

If you can pay them something, then they might accept a new payment proposal from you. Try it, there's nothing to lose. BUT you must ensure that you pay on time every time, or they will come looking for the car, as they have now issued you with a default notice, which is all they need to repossess the car.

[danmav]

Have you had the Bill of Sale which Log Book Loans have as security against your vehicle checked?

If not if may be worth contacting your local CAB or try and find a specialist Consumer Credit Act solicitor to check it. They have a history of not completing the Bill of Sale correctly and if it isnt done correctly they have no right to seize the vehicle and you are left with an unsecured debt.