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Detailed Study On The Logbook Loans

For those who have CCJs, bad credit or have missed a few payments, it might appear nearly impossible to get finance. Many lenders will charge check you and automatically reject you based on your past credit history, which then leads to the rejection. However, there is a solution, and that is to apply for a loan which doesn’t require a credit check. There are lots of types of loans that you can be accepted with no credit check. Firstly there are payday loans, which are short-term loans made to tide you over from payday to payday. Most payday loans companies won’t credit check you so long as you meet their criteria for financing. Usually, this means you should be in employment, earning a specific amount each month usually around #750 and have a debit card where the loan may be repaid. Are you hunting for logbook loans? Check out the before described site.

These loans are only short-term options and are usually for a maximum of 60 days. In case you have a relatively new vehicle which is clear of finance you may be able to find a logbook loan. You don’t have to hand the car over; you keep the use of the automobile but release some of the equity in it to secure the loan. Since the loan is secured on the vehicles paperwork, you don’t have to be credit checked to get this sort of loan. Usually, to find a logbook loan, you need to be the registered and legal keeper of the car. Some lenders require that the vehicle needs to have a current MOT and tax to lend.

Logbook loans are for a longer period than payday loans usually around two decades. Doorstep lenders can provide cash loans of up to approximately #500 which is accessible to even those people who are unemployed. Doorstep lenders are specialist loan companies who specialise in high-risk instances. Loans are handled by local agents who call at your address to collect the payments each week. Such loans are done entirely in cash, the payments are fixed, and the broker provides a convenient collection service for payments. These loans may be repaid over up to a year. Lastly, if you need to borrow more than #500, then a guarantor loan is a good option for you. These loans which can be up to #5000 or so, require you to have a guarantor that will guarantee you’re great for the loan. If you can’t repay the loan, the guarantor will take over. Locating a guarantor is not always easy, but a relative or close friend may be willing to help. Generally, they need to be over 23, a homeowner and to have great credit.