The following sets out the details of a Statutory Declaration that you must have signed in order for your Log Book Loan to be released to you:
- THAT I am a [male / female] adult of sound mind and the lawful holder of a Kenyan National Identity Card Number ……………………….. and I am therefore competent to swear the Declaration.
- THAT I will be in use of the telephone contacts availed to the lender for the duration of the loan.
- THAT in case of any communication with regards to my loan account, I will promptly contact Platinum Credit Limited’s care centre on Tel No. +254 (0) 709 900 000
- THAT the settlement statement I will be given will have a 14 day validity period to allow me plan for payoff of the facility.
- THAT I am fully aware that the Platinum Credit Limited will send any communication with regards to my loan (Statements, Demand Notices, and Repossession Letters) to the Postal and email address availed on the loan application.
- THAT I am fully aware that I am allowed to reschedule an instalment once for fourteen (14) days by paying 10% of the instalment value, two (2) days to the due date.
- THAT unless I give Platinum Credit Limited a minimum of two (2) days notification to reschedule my monthly instalment, I will be obliged to remit that month’s instalment when it falls due.
- THAT I will not tamper with the tracking device, and will allow the Motor Vehicle to be tracked at all times for the term of the loan, and in the event that Platinum Credit Limited establishes that I did or tried to tamper with the gadget, then they will have the right to repossess the Motor Vehicle.
- THAT I acknowledge that by entering into this agreement, I authorise Platinum Credit Limited to jointly register the ownership of the Motor Vehicle with the National Transport and Safety Authority (NTSA).
- THAT I acknowledge upon full repayment of my loan Platinum Credit will release the original log book to my custody after 14 working days.
- THAT I acknowledge that any demand notification will attract a collection fee computed at a rate of 15% of the instalment amount.
- THAT I undertake not to sell the motor vehicle to a third party without notifying and obtaining consent from Platinum Credit within the term of the loan.
- THAT I undertake to bring to the lender’s attention accidents involving the Motor Vehicle within 24 hours of occurrence.
- THAT I understand that it is my responsibility to collect a copy of the registered Chattel agreement relating to the Motor Vehicle used to secure the loan.
- THAT I make this Declaration believing the same to be true and in accordance with the provisions of the Oath and Statutory Declaration Act Cap 15 of the Laws of Kenya.
If you believe that you may have difficulty meeting a repayment deadline please call us on 0709 900 000 and we will be happy to discuss the options available to you.