Logbook Money Terms & Conditions
What to expect when taking out a logbook loan with Logbook Money.
Logbook Money Ltd., PO Box 908, Harrogate HG1 9EJ United Kingdom (“we”,”us”)
Fixed Sum Agreements are secured upon your vehicle, such security being affected by Bill of Sale.
Charges for late payment
You will be required to repay to us our reasonable expenses and any legal costs we incur in taking any of the following steps following a failure by you to comply with your obligations under the credit agreement:
- Sending you a reminder that an instalment has not been paid on time for which a charge of £12 will be made;
- Finding you have changed your address without notifying us of your new address;
- Taking steps, including court action, to enforce your obligations under this agreement for the payment of the money you owe us.
Consequences of missing payments
If you miss payments, we may take steps to recover the security and/or legal proceedings to recover any amount due. Further, missing payments may make it more difficult for you to obtain credit in the future.
The credit, or the balance of the credit less any amount comprising restricted use credit, will be advanced to you in the form of a bank transfer following execution of the credit agreement. Where the credit consists wholly or partly of restricted use credit, it will be disbursed, wholly or partly as the case may be, to the person to whom the parties have agreed to make payment.
You have the right to receive, on request, and free of charge, at any time throughout the duration of the agreement, a statement in the form of a table showing:
- The details of each instalment owing under the agreement;
- The date on which each instalment is due, the amount and any conditions relating to the payment of the instalment; and
- A breakdown of each instalment showing how much comprises capital repayment, interest payment, and if applicable, any other charges.
You have the right to withdraw from this agreement (without giving any reason) before the end of 14 days beginning with the day after the agreement is made. You can notify us of your intention to withdraw by:
- Writing to our Collections Department at Logbook Money Ltd., PO Box 908, Harrogate HG1 9EJ; or
- Contacting our Collections Department by telephone on 01924 221852.
If you withdraw from the agreement you must repay the credit. Payment may be made as follows:
- Contacting our Collections Department by telephone on 01924 221852 and making a debit or credit card payment over the phone (subject to the charges detailed above); or
- Making a payment directly into any Barclays bank using the paying-in book provided to you by us on signing the loan.
Both the total amount of credit and interest accrued from the date the credit was provided must be paid without delay and no later than 30 calendar days after giving notice of withdrawal.
You have the right under section 94 of the Consumer Credit Act 1974 to repay the credit early at any time in full. You may do so by notice (whether oral or written) and payment to us of all amounts payable by you under this agreement less any rebate allowable under section 95. Notice should be given in writing or by telephone to our Collections Department, details of which appear above.
You have the further right under section 94 above to discharge the debt in part at any time. In order to do so you are required to give us notice of your intention either in writing or orally as above. You must then pay us some of the amount payable before the time it is due under the agreement and within 28 days from the date you give notice or before any later date specified in the notice. Payment may be made by any of the methods specified above. Making a partial early settlement will result in the duration of your agreement being reduced. Payment may be made by any of the methods specified above.
If you are not a business debtor, you have the right to complain to the Financial Ombudsman Service. If you are a business debtor, you may have such a right.
We are fully authorised and regulated by the Financial Conduct Authority of 112 Endeavour Square, London E20 1JN who is the supervisory authority under the Consumer Credit Act 1974.