Really need advice on Log Book Loan please!

[Reallystuck18]

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

[Andyorch]

Hi and Welcome to CAG

 

I have amended your thread title.

 

Andy

[Reallystuck18]

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?

[renegadeimp]

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

[Reallystuck18]

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

 

How would I word asking them for this information? Thanks

[Andyorch]

How would I word asking them for this information? Thanks

 

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