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log book loan

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  • #1

    log book loan

    Hi
    I am the owner of a car and a relative is the registered keeper ...said relative has now got over £4k worth of log book loans against the car and the company are trying to repossess due to missed payments I imagine ...can they do this even if it is my car ?? (I have the receipt from when I bought it)
    Thanks in advance for any advice
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  • #2
    Re: log book loan

    Hi okram & welcome to LB.

    In several of the logbook loan agreements that I've seen, the borrower has to declare that they are the legal owner of the vehicle, not just that they are the registered keeper.
    Have these loans been secured without your consent & authority?
    If not, & worst came to worst, would you be prepared to testify to that?
    CAVEAT LECTOR

    This is only my opinion - "Opinions are made to be changed --or how is truth to be got at?" (Byron)

    You and I do not see things as they are. We see things as we are.
    Cohen, Herb

    There is danger when a man throws his tongue into high gear before he
    gets his brain a-going.
    Phelps, C. C.

    "They couldn't hit an elephant at this distance!"
    The last words of John Sedgwick

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    • #3
      Re: log book loan

      Originally posted by charitynjw View Post
      Hi okram & welcome to LB.

      In several of the logbook loan agreements that I've seen, the borrower has to declare that they are the legal owner of the vehicle, not just that they are the registered keeper.
      Have these loans been secured without your consent & authority?
      If not, & worst came to worst, would you be prepared to testify to that?

      Thank you for your pertinent advice
      From what you are saying I realise now what has gone on...and I have a lot of thinking to do
      Thanks again
      • 1 thank

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