Bad Credit Scores are No More a Snag to Borrow Cash

By:  09/11/2012
Keywords: Secured Loans, logbook loans, bad credit secured loan

In current economic environment, several individuals have move towards short term borrowing options but majority of such consumers get depressed as traditional lenders refuse their loan request due to low or no credit records. Here, alternative and modern cash approaches can help to manage cash in emergency financial situation.

Obtaining credit with bad credit score is now easier with logbook loans. Lenders do not consider credit score of an individual’s while accepting loan request. This is midterm borrowing option available with flexible repayment terms. Though it imposes high rates but even lower than payday loans as reviewed by experts and users.

If you do not want to tie up with long repayment terms and also dealing with bad credit score then this is the cash option you are looking for. In order to get sure approval of loan request you must meet with essential eligibility requirements of the loan.

Some Necessary Criterions for This Cash Option Are:

·        Applicant must be eighteen years or more

·        Should have documentary proof of regular income source

·        Should be a car owner and car must be insured and taxed

·        Holder of valid MOT certificate

·        Car should not be more than ten years old

·        You must have a logbook for your car which should be registered against your name

Bad credit scores, defaults, missing payments, arrears and CCJs always give negative impact on credit score of a person that eventually affect further borrowing options. It minimizes borrowing option for any individual but logbook loans are free from such limitations.

Applying for logbook seems easy through online sources. But one should be wise upon selection of lender as rates and terms can vary from one lender to another. It is highly recommended to compare the lenders to find better deals. Majority of loan applications get accepted on the same day.

Keywords: bad credit secured loan, loan against car, logbook loans, Secured Loans



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