Hi.

We got a log book loan with Varooma,

we fell behind on a couple of payments and it was suggested that we take another to clear the debt.

Naively we agreed.

The payments were £89 and £102 a month (approx),

being made redundant meant we got behind again

despite numerous attempts to negotiate a fair plan going forward

we have been told again and again that they can't as we are in arrears.

The issue is we can't get out of the arrears.

We currently pay £150 a month on each but the interest on the arrears means the debt increases every month.

I can't not understand what this means though (this info was as if July, I don't have any further updated)

Total of instalments now in arrears £156.22

Total amount payable under the agreement £999.50

Total amount you have paid £2,094.27

Outstanding balance including arrears arrears £3,025.52

Less any rebate £2,026.02

Total amount payable by you £999.50

And the other one says

Total of instalments in arrears £1,002.50

Total amount payable under the agreement £1,857.50

Total amount that you have paid £2,024.91

Outstanding balance including arrears £1,857.50

Less any rebate allowance £0.00

Total amount payable by you £1,857.50

It confuses me.

I've contacted the courts to see if the bill of sale is registered.

Do I need to get a statement of everything paid and owed?

Right, Youll need to check and make sure the Bill Of Sale has been registered correctly.

Then send a SAR request to Varooma. Also I would suggest emailing;

[email protected]

He is the FCA registered person for the company. They CANNOT refuse a reasonable repayment plan. If need be, you may need to get the FCA involved etc...

How much do you owe at this moment? Overall?

I've honestly no idea. We've requested so many times the statement of what we've paid and what we owe but they won't give it to us.

I've requested a copy of the BOS from Varooma and from the email address lying around the forum.

I've just emailed the email address you've shared, thank you.

I will SAR them.

I think I'm going to go through all my payments to them via bank statements.

The email address you quoted responded almost immediately and said they would review on Monday. Thank you.

Please keep me posted. As youve escalated, hopefully they may see you mean business

In addition to the SAR, send a CCA request under s77 to the logbook loan company

let's see what the t&cs have to say as regards interest and charges