Log-book Loans - beware

I have never heard of a logbook loan before. They do sound awful, as do payday loans. Of course these companies target those who want cash straight away and who (in most cases) are unable to get cash from other means, such as overdraft, bank loan etc.

Hopefully, anybody reading these posts will follow Georgina's advice and stay well clear of both logbook loans and payday loans.

Logbook Loans are something people should definitely avoid. Recently one of the biggest companies were shut down in the UK for their fraudulant acts such as pretending to be solicitors to make people pay more money. They went into administration but sadly are now operating again under logbookloans2go.

Hi all About logbook loans. They come under the bill of sale act 1888. This is a very Victorian law and as such does need to be repealed in Parliament. In short when someone has a logbook loan on a car and the owner then sells the car on before the debt is registered in the high court (which has to be within 7 days) the debt then transfers to the new owner. As such there is little you can do about it except fight the issue in court when you are likely to lose. However if you bought from a garage all HPI checks should have been done before hand. I strongly advise anyone to pay for a £20.00 hpi check before buying a car. I have just been through all of this experience so know first hand how the system works. I was lucky the garage owner paid up