A great lending experience
I was facing some financial crisis and approached my bank for that. I got to know that I have a bad credit history and my account is new so bank so they can’t give me a loan. I became quite depressed; since I lost my job a month ago and my wife was pregnant and she also resigned as of her bad medical condition; in short both of us were in very bad situation. We didn’t have any saving as I relocated from Wales to England and now I was empty handed. Due date of my wife was in only one week and I was really stressed out. I didn’t know how I will pay the hospital bills. It was quite bad feeling; since it was our first baby and we didn’t have any preparations. I understand my wife was having high expectations from me.
In short I totally collapsed and went to one of my friends; during the coffee I heard one person discussing over the phone about the logloan website. He was telling someone that his problem has been resolved due to that. I felt anxious and it attracted my mind to know about this loan. I searched online and found some information about logloan.co.uk. Immediately I called the customer service and they briefly told me what it is and how it works. I told them that in case I had to sell my car and while it is on loan with you do then and what will happen. They told that when you take the loan against your vehicle, it does not belong to you although it remains in your possession, by all means. You have the full freedom to use the car as you wish at any time, except for selling it; yet you can’t get rid from the loan until you pay it completely as it is your responsibility to take good care of the car.
Since the vehicle is not yours for the loan period, you cannot sell it anywhere because it is illegal. If this sale is traced through logbook loan database, this could be a big trouble. You sign on your logbook documents; in case you sell it to someone you need to pay all the dues, or face the consequences.
Well this was a great piece of information for me; because I wanted to know the legal aspect as well. I asked so as I was in doubt; since the company was giving instant cash and with the bad credit history then that mean there is a huge liability on you. If logbook loan trusts you then they have full right to take your car under their possession.
Well; I received my agreement and then I signed against the log as well. I am happy as it was great and best decisions I made for me and my wife. Overall it’s a great work for the people and you guys are bringing happiness to the people’s life; thank you logloan.co.uk.