Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
LAST YEAR I TOOK OUT A LOG BOOK LOAN ON MY O3 REG CLIO ,IVE PAYED THE LOAN CONTINIUS SINCE JUNE .EVERY WEEK WITHOUT FAIL ! IN SEPTEMBER MY CAR BROKE DOWN & WAS OFF THE ROAD FOR 2MTHS UNTIL I FINALLY DECIDED TO TAKE IT TO A GARAGE & GET IT REPAIRED & IT COST ME & IM A SINGLE PARENT . IN JANUARY MY CAR BROKE DOWN YET AGAIN & NEEDED A LIST OF THINGS DOING TO IT THE QUOTE I GOT FROM THE GARAGE WAS REDICULOUS & THEY WERE THE MINOR THINGS THAT NEEDED DOING ,SO I NEVER PAYED MY "LOAN" THEY CALLED ME ON A COUPLE OF ACCASIONS I EXSPLAINED WHY .I SENT THEM A COPY OF THE GARAGE QUOTE & ALSO EXSPLAINED IT WAS DUE TO BE TAXED & READY FOR AN "MOT" I SAID I COULDNT AFFORD 1800 SO THE CAR WAS GUNNA BE DECLARED OFF ROAD OR WAS GOING TO THE SCRAP YARD .THEY OFFERD TO TAKE 300 OFF ME UP FRONT THEN WANTED 150 A WK FOR 8WKS OR IT WAS GOING TO THE "REPOSSESION DEPARTMENT" ! I CANT AFFORD THAT & I ONLY HAD 1000 TO BEGIN WITH & IM SCARED OF WOT THEY WILL DO ????? AFTER ALL WOT CAN THEY DO IF THE CAR IS GOING TO BE SCRAPPED WOT GUD IS IT TO THEM ?????? HELF XX
The legal position is the car belongs to Log Book Loans regardless of the mechanical condition it is in. You signed a Bill of Sale. You also agreed to a loan with an interset rate with a repayment schedule so that is still due regardless who has the car. Unlike the EU, UK law does not set a maximum interest rate a loan can have.
Log Book Loans cannot breach the Consumer Credit Act 1975 & 2006 and must be licensed to trade in consumer credit with the Office of Fair Trading (Craven House address).
You need to speak to a Log Book Loans expert for help. Try the LBL forum.
the whole thing of log book loans should be outlawed.. it is awfull, they prey on the needy, and give them a lifeline,,,but it is not by any means a life line to anyone the rates they charge i think these companies should hold their heads in bloody shame there should be some law against them..we have been long term unemployed so i know what it is like do without , we are a little bit better of nowith working and also been tempted with these companies [brighthouse] would;nt touch them either, the rates are really bad just do without we have ,,,its been hard by no means but would;nt touch these companies with a barge pole im afraid,,,
"logbook Loan" Please Help!!!!!!
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