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Logbook Loans
Fast Loans secured against you vehicle. Borrow from £500 to £50,000. Get Cash In 24 Hours. No Credit Checks. Bad Credit - No Problem.
Fast Loans secured against you vehicle. Borrow from £500 to £50,000. Get Cash In 24 Hours. No Credit Checks. Bad Credit - No Problem.


Logbook Loans - Ideal for people with bad credit

Logbook loans are the ideal situation for someone who owns their own vehicle, has bad credit and need cash quickly. When an emergency arises and there is no way a bank will lend the individual a large sum of money without a large collateral, like their house, and a lengthy credit check, then a logbook loan is the answer.
A logbook loan is a loan made against the logbook of your car for the amount of cash one needs to get them out of their financial crisis and back to normalcy. Hundreds of thousands of people, especially in today's economic unsteady times, have bad credit. It could be because they have lost their job, gotten a divorce and have extra payments going out or simply due to inflation. The individual could have filed bankruptcy, had a few late payments on some debit or experienced a CCJ, payment defaults or arrears.
With a logbook loan, the company extending the credit to the person who owns the vehicle will not ask for any credit information. They will not look at the individuals credit score and in fact, in some instances, obtaining a logbook loan could help to increase a consumer's credit score if they make their payments on time. This is exactly what the logbook loan companies are interested in, if the consumer can make their payments each month on time.
An individual or family considering taking out a logbook loan on their vehicle needs to think about what they are doing and go over their budget to make sure they can afford the monthly payments to repay the loan. They do not want to get into another financial crisis and this time, they could lose their automobile if they do not meet the monthly required payments. A logbook company that extends credit to a person for their logbook has the right to claim the car for the missed payments. It varies by company how many missed payments before a logbook lender will reposes a vehicle, sometimes its one payment sometimes its three payments. The best thing to do is make sure your budget can withstand the extra funds being withdrawn.
The major questions that a logbook loan company is going to ask an applicant are going to be if they have a full-time job or other permanent source of income so they can repay the logbook loan. They will also ask if the logbook is free and clear. This means there can be no loans or moneys owed on the vehicle. But the major question the logbook lender will want to know is if the person applying for the loan can afford the monthly payments. They do not want to put anyone into an economic bind.
The logbook lender does not care about your past credit history. This is a time to make a fresh start with your credit and payments. A logbook lender will retain the logbook for the duration of the loan period. At the end of a logbook loan, the lender will return the logbook and many of them will report your good payments to a credit reporting bureau. This will help an individual begin to repair their bad credit past.

The benefits of logbook loans

Few people are every so lucky as to not be hit on with hard times. When someone is sick and misses a week or more of work, they often suffer financially by falling behind on their bills. Other people might take in a relative for a while to help them out with their hard times and end falling on their own financial difficulties. Paying for an extra mouth or two to eat, use the electricity and water add up, especially if the individual's income has not increased with the added family members.
There is hope and that is through a special kind of personal loan, a logbook loan. A logbook loan uses the equity in your vehicle to give you money you need now so you do not have to go to a bank and have them hold your house as collateral on a small loan. The logbook loans are for the value of your automobile and the proceeds can be used for anything the vehicle owner needs the money for.
Another benefit of a logbook loan is there is no credit check. Many people are concerned about their past credit history and their credit scores. If you need quick cash now and have a clear logbook on your vehicle, you may qualify for a logbook loan. One other qualification for obtaining a logbook loan is a full-time job or income that can be verified. This is so the individual can pay back the money.
One great thing about a logbook loan, beside no credit check, is that it's a quick process. There is so much less paperwork then a traditional loan from a bank in which they would no doubt ask for every piece of information regarding your life history. This is a lot of paperwork and a lot of time. With a logbook loan, there is much less paperwork and you get your money much quicker. This will help to take care of whatever type of emergencies or concerns the money is for and help put the individual's mind at ease.
When checking into getting a logbook loan, an individual needs to be sure they can handle another payment with their current bills. A logbook lender does not want to put someone in a financial burden because of a loan. If a vehicle owner's budget cannot be stretched enough to include another payment, then the logbook lender may deny them the loan.
Many of the logbook loans take 6 or more months to repay and there is no penalty for paying the loan off early. One other great thing about logbook loans is that many of the logbook lenders will report favorable payment histories to the credit bureaus. This may help those with bad credit pasts to get back on the right track with their credit.
Many banks and other financial institutions treat people like a number and do not really care about the individual borrowing the money or why they need the money so quickly. With a logbook lender, there are many who are local and really get to know their clients.

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What are logbook loans?

Logbook loans are one of the fastest types of loans available in the UK. They allow you to borrow money using your vehicle as security against your loan. The vehicle could be a car, van, or a motorbike; essentially any motor vehicle which has a log book. There are no credit checks and you still own and drive your car. As the process is very simple, you can be driving away with your loan within 24 hours
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