So they can chase the full amount they say I owe them? My loan was initially £3000 I have made repayments of £1000. The car is worth (even through auction) £4000 (£7-9000 trade value). They say I have to pay £2500 to get the car back but still owe them £4500 or if they sell it I owe them £14,500 minus what the car sells for. If my partner buys it back from auction and sells privately we would be better off. I have only the house (now negative equity) in my name and I am a housewife. I have no traceable financial links to my partner so they couldn't get anything from me as I have nothing they could take. If I don't pay them any more they will have nothing to seize from me. What would you suggest I do?

Hi I took out a loan with log book loans at the end of August. I made the payments until the beginning of November when my partners business went belly up. Anyway I have no sob stories but just want to know where I stand. LBL/Anglian have taken the car. It is due to go to auction on friday. If my partner goes and buys the car at auction what about the rest of the money as LBL say I now owe them nearly 5 times the initial loan amount. Surely if it a Bill of sale aginst the car and they take the car that would be the end of it? Or what do they do from here.