Grounds For Taking Up a Logbook Loan
You may think you are alone with your financial struggles and mounting debt, but we can assure you that you are not alone. Almost everyone today is in some financial trouble and finding it hard to pay their bills.
One way to solve your crisis would be to look at Log Book Loans UK. If you are in the United Kingdom, Logbook Loans is a money lending company that works by using your motor vehicle as collateral. You can skip going to the bank and going through their very long and confusing loan system and use Logbook Loans instead.
What is a logbook?
A logbook is an official document containing details about a vehicle and the owner of the vehicle. (That would be you!)
If you want a logbook loan, you must be the registered owner of the vehicle. The vehicle can be a car, truck, a motorbike or a van of sorts. As long as you are the owner and have proof of ownership, and as long as the vehicle is paid off or mostly paid off, you can get a loan.
You need to be a resident of the United Kingdom, which includes Scotland and Wales and also is eighteen years or older. As long as you can prove residency, ownership of the vehicle, provide proof of income and bank statements, and have all the necessary insurances, you will qualify for a logbook loan.
Logbook Loans are quick, but they are also incredibly professional. Your loan, provided you have given all the correct paperwork, will be approved within 24 hours. The money will be in your bank account roughly at the same time. However, Logbook Loans have responsibilities to you, the loaner, and are not going to approve a loan if there is a high risk of you getting into trouble. The loan decided on must be one that you can pay back as per your schedule. If you are unable to pay back the loan, you risk losing your car.
Are the risks therefore high? No, unless there are sudden changes to your income. A loan amount will be agreed upon, between you and the Logbook Loans Underwriter, that fits in with the amount of money you want to borrow and the length of time you want to have to pay it back. These calculations are done carefully to ensure that you can pay back the money.
You, as the money loaner, need to be fully aware of all the terms and conditions and to go through the website carefully. Start off by going on the www.logbook-loans.net site and do your loan calculation. The calculator will guide you, and you will be astonished at how quick and accurate it is.
Once you have done this, go to ‘Approval’. If you don’t want to do it online, go into one of their many offices. You will then be guided through the steps. You will provide copies of your ID, residence, car ownership and insurances. You will provide payslips and bank statements. And provided everything is in order, Logbook Loans will get the approval and get you your money.
All within 24 hours!
Imagine going to a bank to do the same thing. It can take days, weeks, sometimes even months, before you get a satisfactory result. Logbook Loans is a stress-free way of helping you out of a financial difficulty.
Go ahead. Read all about it. Educate yourself, so you know what you are doing. It will take five minutes. And then – apply. It’s as simple a
James is an internet entrepreneur, blogging junky, hunter and personal finance geek. When he’s not lurking in coffee shops in Portland, Oregon, you’ll find him in the Pacific Northwest’s great outdoors. James has a masters degree in Sociology from the University of Maryland at College Park and a Bachelors degree on Sociology from Earlham College. He loves individual stocks, bonds and precious metals.