Jump to content
Reallystuck18

Really need advice on Log Book Loan please!

Recommended Posts

Hi

 

So this is a long story!

 

I originally took out a lbl of 2100. Long story why but it was my only option at the time. Have paid this off for approx 6 months. Took a further loan for 500 a month ago.

 

Everything was fine but then circumstances happened and I was no longer able to make the payments. I had the v5 as I had applied for change of address and was sent a new one.

 

I did loads of research and spoke to a local company who offered to buy the car from me. Settle the loans with the lbl company and then pay me the difference so I could buy a cheaper car.

 

I requested settlement figures from motorkitty and went to my app.

 

The bloke who ran the company appeared to be in a rush and was literally locking up around me whilst sorting the paperwork. He was getting into a mess sorting out the figures and so asked me to send him the details for the first lbl for him to pay and then he would sort the 2nd.

 

He paid the first one by bank transfer and then said actually let's go check out the car. We went out and he did checks and then we went back in. He cancelled my road tax and then sent me the balance of what he had worked out I owed. I was really anxious with the e tire thing as I was in a complete mess and it didn't click until he messaged me 2 days later saying the 2nd loan wasn't paid!

 

I had bought my replacement car by this time and didn't have any finds left. He got really nasty threatening to contact my work and the police and report me for fraud as he is claiming I didn't inform him of the 2nd loan and me sending him that email backs up his story!

 

I have spoken to motorkitty. They have offered to put the 2nd loan onto my new car but want to add hundreds of pounds in charges making it nearly 1000 for a 500 loan.

 

The man from the other company is also threatening court.

 

I really don't know what to do for the best. I understand I need to pay this as the bloke who bought the car messed up, however I can't afford the £75 A month payments for 2 years that motorkitty bow want to charge me.

 

I'm really scared. Its a total mess and I don't know what to do. I'm terrified the police are going to knock on my door and I can't sleep. Can anyone offer me any advice as I'm totally stuck on what to do!

 

Additionally: I received a default notice from motorkittytoday. It says the total outstanding is 4000! I queried this with motorkitty and they said that although the first larger loan was settled it's not closed off as it is linked to the 500 loan. Does that mean they can do after me for 4000? On a 500 loan?

 

Thank you

Share this post


Link to post
Share on other sites

Hi and Welcome to CAG

 

I have amended your thread title.

 

Andy


We could do with some help from you.

 

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

    Donate button something to the Consumer Action Group   

 

If you want advice on your thread please PM me a link to your thread

Share this post


Link to post
Share on other sites

additionally, I don't know if this makes any difference, but the original loan for £2100 had the bill of sale. This is the loan that has been cleared. The 2nd loan for £500 I signed and emailed back a loan agreement but don't believe I signed another bill of sale or anything.

 

DO you think this may be why they have "linked the loans" and not closed down the other one?

Share this post


Link to post
Share on other sites

DOnt be scared. Write to them and demand a full breakdown of what they have. SAR them if needed to get everything they have.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

Share this post


Link to post
Share on other sites
How would I word asking them for this information? Thanks

 

Click the word SAR above....its already provided for you.


We could do with some help from you.

 

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

    Donate button something to the Consumer Action Group   

 

If you want advice on your thread please PM me a link to your thread

Share this post


Link to post
Share on other sites
Please fill in your quit date here

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?




  • Tweets

  • Our picks

    • This is a bit of a lengthy one but I’ll summerise best as possible.
       
      THIS IS HOW THE PHONECALL WENT 
       
      I was contacted by future comms by phone, they stated that they could beat any phone contract I have , (I am a limited company but just myself that needs a business phone and I am the only worker) 
      I told future comms my deal, £110 per month with a phone and a virtual landline, they confirmed that they could beat that, £90 per month with a phone , virtual landline  they also confirmed they would pay Vodafone (previous provider) the termination fee. As I am in business, naturally I was open to making a deal. So we proceeded. 
      Future comms then revealed that the contract would be with PLAN.COM and the airtime would be provided by 02, I instantly told them that this would break the deal as I have poor 02 signal in the house where I live as my partner is on 02 and constantly complaining about bad signal
      the salesman assured me he would send a signal booster box out with the phone so I would have perfect signal.
      so far so good.....
      i then explained this is the only mobile phone I use for business and pleasure, so therefore I didn’t want any disconnection time in the slightest between the switchover from Vodafone to 02
      the salesman then confirmed that the existing phone would only be disconnected once the new phone was switched on.
      so far so good....
      • 14 replies
    • I was talked into signing up with Future Comms (future-comms.co.uk) who cold-called me to change my mobile contract to them, via 02, rather than EE. I have a small business (only me!) and it's a business contract. True, the 4G network is better for my area. This company seemed to be a marketing set-up for various telecoms companies, so I assumed anything I signed would be with 02 and didn't think it might be a problem.
       
      They sent an email whilst I was on the phone to set up the direct debit mandate with my bank which I signed electronically. That was the first, of many, problems I found. Apparently THAT was my contract, binding me to 3 years and no 'cooling off' period, because I was a 'business' (meaning any consumer rights did not apply). When I subsequently asked in writing for a copy of my contract, that is what they sent - when I argued it was a DD mandate they insisted it was my contract!
       
      2 days later they asked for my phone details to get it unlocked which I sent. 10 days later, EE closed my account, so I changed the SIM card to 02 that had come a few days before. No network! They had done nothing about unlocking it. Fortunately I was lucky with EE who managed to give me the right codes, rather than the usual 10 days to go through Samsung.
       
      By this time I was suspicious of their set-up and wanted to cancel. As I said earlier, I found myself trapped into a 3 year contract with no 14 day cooling off period (they don't offer that). Promises to deal with my complaints never happened, promised return calls neither....and on and on.
       
      Ofcom's rules apply to consumers and small businesses (under 10 employees), yet this shower don't acknowledge that. They just repeat and repeat that I am a business so it doesn't apply. To cancel the contract I have to pay the full 3 year's fees!!
       
      I would like to know if others have had similar experiences? Or does anyone know how I can maybe declare the 'contract' unenforceable? I have never before been locked into something without a clear written contract, with t&c's! And, yes, I have asked, and yes, I have been ignored.
      • 84 replies
    • Future comms!. Read more at https://www.consumeractiongroup.co.uk/topic/415706-future-comms/
      • 10 replies
    • A shocking story of domestic and economic abuse compounded by @BarclaysUKHelp ‏ bank complicity – coming soon @A_Gentle_Woman. Read more at https://www.consumeractiongroup.co.uk/topic/415737-a-shocking-story-of-domestic-and-economic-abuse-compounded-by-barclaysukhelp-%E2%80%8F-bank-complicity-%E2%80%93-coming-soon-a_gentle_woman/
      • 0 replies
×
×
  • Create New...