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losthope

Please Help Advice Needed!!!

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i took out a loan with lbl as i was desperate, i have now lost my job and cant afford the £46 per week on a £1200 loan. I have phoned them crying explaining my situation and they dont seem to care, i have missed a couple of payments, so now they are increasing my weekly payments to £55 to cover the arrears! I tried to explain that i couldnt afford the first payments never mind the second!!! any advice would be gratley recieved

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Welcome to CAG lost hope

 

I am sure someone who knows more about these loans than I do will be along.

 

However the general opinion seems to be that you need to hide you car as these lot will now have you on their radar. As you are in arrears they could arrive at any time of the day or night to remove your car.

 

Soory I can't reassure you.

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i took out a loan with lbl as i was desperate, i have now lost my job and cant afford the £46 per week on a £1200 loan. I have phoned them crying explaining my situation and they dont seem to care, i have missed a couple of payments, so now they are increasing my weekly payments to £55 to cover the arrears! I tried to explain that i couldnt afford the first payments never mind the second!!! any advice would be gratley recieved

 

OK, first thing you will need to do is seek proper legal advice. Go to your local CAB and do it FAST. Whilst you are in the process of doing that, scan your original Bill of Sale, and Credit Agreement and post them up here (omitting any personal details), then the legal bods on here will take a look.

 

Have they defaulted you yet? if they have, like RJ states, HIDE YOUR CAR. And not round the corner either, hide it at least 1/2 - 1 mile away, and WALK to and from it. These vultures have been known to watch you leave your house and walk to your car. They also know that 99% of people park the car within a few minutes walk so will drive around the immediate vicinity looking for it, and when they find it, they WILL TAKE IT and the chances of you getting it back are VERY slim.

 

How much was the loan for and how much is still outstanding?

 

Are you working?

 

Would you be willing to go to court over these scu*bags?

 

Also write a report on what actually happened when you went to the office to take out the loan.. all this information will help others advise you.

 

Good luck,

 

UKD

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Hi, thanks for the reply. How do i go about getting the bill of sale?

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you should already have it in the paperwork you got from the vultures. if not they should have sen you a copy right after. Check your paperwork and you will probably have it but not realised what it was

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Hi, sorry for the delay in posting, just found my bos which i recieved the day i took out the loan from the sales man, he has signed the credit aggrement and also witnessed it with a dodgy signature, i havent signed the bill of sale, im not sure what t do next, any advic uld be great.

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