Spectra Premium Industries Inc 7-4786 Condenser on 2040-parts.com
Temecula, California, US
Condensers & Evaporators for Sale
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Logbook loans signal increasing debt risk
Mon, 23 Jun 2014CONSUMERS who buy second-hand cars are at risk of unwittingly inheriting debts taken out by the previous owner that could end up with their vehicle being seized, Citizens' Advice is warning. The charity said one in five people who reported a problem to it about “logbook loans”, where a person places their car as security against a loan, ended up having their car repossessed – despite not being the one who borrowed the money. Citizens' Advice warned someone who buys a car which is still the subject of an outstanding logbook loan taken out by a previous owner could end up being chased for the debt – leaving them with the choice of making the repayments or having their vehicle repossessed.