Questions are being raised over the conduct of Platinum Credit Limited after a customer claimed the lender has failed to release their motor vehicle logbook months after the loan was fully repaid.

The complainant says they took out a KSh150,000 logbook loan in October 2025 and managed to clear the entire balance by February 2026. The expectation was that the company would immediately begin the discharge process and facilitate the release of the security held against the loan. That, the customer says, has not happened.

According to the borrower, repeated phone calls and follow ups have yielded no results. Months after settling the debt, the logbook is still being held, leaving the owner unable to transfer ownership of the vehicle or deal freely with their property.

The complaint raises concerns about the obligations of lenders once a secured loan has been repaid. A logbook loan is secured against a motor vehicle, meaning the lender registers an interest over the vehicle as collateral. Once the borrower clears the outstanding amount, customers generally expect the lender to discharge its interest within a reasonable period and release all documents needed for the owner to enjoy full rights over the vehicle.

For many Kenyans, a vehicle is more than just a means of transport. It is a business asset, a source of income and, in many cases, the family's biggest investment. Delays in releasing a logbook can prevent owners from selling the vehicle, using it as security elsewhere or completing ownership transfers.

As a licensed non deposit taking credit provider, Platinum Credit Limited is expected to handle loan discharge processes in a timely manner and communicate clearly with customers whose facilities have been fully settled. If there are outstanding requirements preventing the release of a security document, borrowers are entitled to know what those requirements are and how long the process is expected to take.

The complainant says no explanation has been given despite numerous attempts to reach the company.

Below is the complaint received.

Good morning Cyprian.

I humbly request that you help me.

I took a logbook loan from Platinum Credit in October 2025 of KSh150,000.

After a few months, in February 2026, I managed to pay off the loan.

Now these people have refused to let go of my logbook. I have been calling them to discharge my logbook to no avail.

I don't understand why they are acting in this manner yet I cleared what I owed them.

I can't even transfer the said logbook to anybody.

Please help.