I recently took out a loan with Automoney for just £300 on car worth about £700 (family crisis at the time) , it has since broken down a needs a £200 repair. I lost my job I have missed 2 payments to Automoney and they say unless I pay up by tomorrow they will seize my car. They are not interested in a payment plan going forward , and I am also frightened they may also seize my other car even though that one does not have any agreement and I own the car and log book ! Can anyone help ?

Hi i was wondering if anyone can help me with my problems or has had a similar experiance with Automoney or any Log Book Loan company. Over 2 months ago i needed to raise some money urgently for family issues a family friend agreed to lend me the money he then said he had been let down and said i could have it in a few weeks. when he was assured he would be paid. I foolishly believed he would come good as he had never let me down but my problems were pressing and i needed cash quickly. I saw TV advert for Automoney and there 60 Day Timeline appealed as i knew i could pay back loan within 60 days or so i thought. My friends money never came and to make matters worse i had an accident 2 weeks after taking out the loan making me unfit for work. I am signed off sick for the forseeible time being and have had to apply for benefits which have not been sorted as we speak. I borrowed £2000 on vehicle valued at £7000. Can anyone please advise what are my rights? Will Automoney give me time to recover and get back to work? Any similar experiances? What proceedures and documents do they have to do and produce to legally reposses my vehicle? Can i stop them just taking from my drive? How long have i got before they try to recover the vehicle? I realise this situation has been brought on by my stupidity is there any help you can suggest with regards to this matter? Thanks in advance for any help you can give me. The first payment on the Loan was due Saturday