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Logbook Loans Car Repossession HELP PLEASE


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Good morning people,

 

You have probably heard all this before but I am looking for some help, I took out a logbook loan with easylogbookloans.tv not too long ago to pay some rent arrears (I had been out of work for a couple of months and I needed some quick cash and had just been offered a new job) so thought a log book loan would be the easiest option and then pay it back ASAP. Unfortunately I got the loan but after 8 weeks in the new job I was laid off due to the work drying up and as the saying goes last in first out.

 

I have recently fallen into arrears with my logbook loan and they have sent bailiffs out for the car, the problem is a couple of weeks ago the car had an engine blow out and was going to cost me more than the car was worth to get repaired so I have scrapped it, easylogbook loans are saying if they don't get the car they will report it stolen and file for my bankruptcy and will not accept any form of payment plan I have tried to arrange with them.

 

Can they report the car stolen as I am still the registered keeper and that this is a civil matter not a criminal matter and also can they file for bankruptcy on my behalf? Also if I make an offer of paying back say £10 and stick to it now that technically the debt is unsecured can they do anything as long as I stick to it?

 

Just been looking and when I originally took out the loan I only had an agent sign my bill of sale with me and it was only me and him that were there I have just been told that if there was no one else there to witness this and sign the bill of sale it is void and the loan is unenforceable and they can only chase me for the money and not take the car, is this true?

 

Thanks for any help in advance

Edited by DannyLeeds1986
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