Finance News
By Evie Vavasseur
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What the Administrators Are Actually Doing. Appleton, Shama, and Ferne have a lot on their plate.
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Regulator Is Watching Closely. The regulatory authority — which the source doesn't name explicitly — is actively involved.
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What Borrowers Should Do Right Now. Keep paying. That's basically the whole message for existing customers.
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Logbook Lending Limited is done. The UK vehicle-secured lender, which traded under names including AFPremier.co.
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Paul Appleton, Adam Shama, and Robert Ferne — all from BTG Begbies Traynor (London) LLP — were appointed to manage the company's affairs, business, and property.
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That's the part borrowers need to hear clearly. Customers who already have loans with Logbook Lending — whether through AFPremier.co.
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Appleton, Shama, and Ferne have a lot on their plate. Their job isn't just to answer phones and forward mail.
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The assessment involves looking hard at what Logbook Lending owns versus what it owes. Creditors and stakeholders are in the picture too, not just customers.
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For customers, the practical message is simple: don't stop paying and don't ignore letters. Any changes to loan agreements will come directly from the Joint Administrators, not…
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Read also: FCA Bags 11-Year Prison Sentences and Hits 650 Social Media Takedowns in Year One
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The regulatory authority — which the source doesn't name explicitly — is actively involved. It's in regular contact with both the Joint Administrators and Logbook Lending…
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The coordination between the regulator and the administrators is ongoing. Transparency is the stated goal.
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Logbook loans have faced scrutiny in the UK for years. Critics have long pointed to high interest rates and the risk that borrowers lose their vehicles if they fall behind.
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Keep paying. That's basically the whole message for existing customers. Don't assume the administration wipes out what you owe — it doesn't.
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If you've got questions about your specific agreement, the Joint Administrators are the right contact.
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