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Log Book Loans - Car being repossessed

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I have searched the web regarding Log Book Loans and have seen that there are hundreds of other people with problems. I am getting severely depressed about my debt and hope if anyone can give any advice it would be much appreciated.


I took a loan out a while ago as I was desperate for £1300 (to pay another debt!). I know it was a stupid mistake and I wish I never had but I did. I couldn't keep up with the payments and started receiving daily calls and letters. I recently was notified that every time they call and leave a message or send a letter they charge me £12. I moved house and naively hoped they would disappear but when I had to pay my road tax I had to change my log book details. I never gave them my log book or spare key when I got my loan but I found that, that was irrelevant as they contact the HPI and inform them of the debt.


They somehow got hold of my work number and kept plaguing me with calls. My colleagues found out much to my embarrassment. To stop them ringing my work I gave them my new mobile number and received a voice mail a while ago saying that my debt had been passed to their pre-repossessions department. They told me I must pay £100 a week until the outstanding arrears we sorted. Currently from an original debt of £1300 I have paid a total of approx. £1500. However I was told recently that there is still 8 months worth of debt to pay at £50 a week and on top of that they said I am behind by £800 and on top of that there is all the charges they will add for phone calls and letters. I spoke to them last week and they said I had to pay £300 immediately or they would pass me to the reposseions department and my car would get repossessed next week. I have no money to pay them. I can't afford £50 a week, let alone all the money they say I owe them.


I have finally come clean with my partner and told her about this debt which feels like a weight of my shoulders. She says we should contact trading standards which I want to do but thought I would leave a post on here and see if anyone could help with any advice.


I know at the end of the day it is my own fault. I signed the papers agreeing to the charges and at the time all I cared about was getting the £1300. The agent who gave me the papers to sign shoved them in front of me and I didn't even bother looking at the small print. I am the one to blame but feel agrieved that an alleged legitimate company with a credit license can charge so much and make my life like so many others a living hell. Any help would be much appreciated. Thank you, Tim.

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Loads of similar threads Tim, why not check them out to see what others have done.


I would also try to make an appointment with Citizens Advice to see what help they can offer you also.


Best of luck! :)

If you feel I've helped then by all means click my star to the left...a simple "thank you" costs nothing! ;)


Restons MBNA -v- WelshMam


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