A Sneak Peek into Logbook Loans

A Sneak Peek into Logbook Loans


Do you have a bad credit and badly in need of cash? Have you evaluated all your options and feel like your back is against the wall? Are you badly in need of urgent cash but your credit report is nothing to write home about? If you answered in the affirmative to the above question, we are the solution to your problems. At teamwales2010, we pride ourselves in offering fast logbook loans to people with a poor credit history who can’t get loans from mainstream financial institutions. We do not carry out any credit checks and our loans are processed in the fastest time possible. Our qualified staff will simply explain to you the loan product, how much you will repay, the period of repayment based on the loan you want and ensure that you have cash within 24 hours. Sounds interesting right?
If you are seeking to apply for a simple logbook loan: get a quote now by contacting us today and learning about our amazing loan product!

What is a logbook loan?

Gone are the days when we were forced to sell our cars when in a quandary and in need of urgent cash. People with a poor credit history can now afford to get loans just by using their cars as collateral. Logbook loans are simply loans secured with your car. The lender becomes the temporary owner of your vehicle as you continue using it until you clear the entire amount of the loan. If your back is against the wall and you have exhausted all avenues, it might be time you considered taking out a logbook loan. However, you need to provide proof that you own a particular vehicle and that the said vehicle has no charge attached to it.

How do logbook loans work?

Thanks to logbook loans, you no longer need to release the value of your car by selling it. All you need to do is use your car as collateral and get the much needed money you require. What happens is that you approach a logbook loan lender of your choice, express the amount you require to borrow, surrender your logbook, produce an ID or passport, produce evidence of income or most recent pay slip, produce proof of residence and sit back as your loan is processed mostly within 24 hours. If you have a poor credit history, you can breathe a sigh of relief as logbook loans are specifically designed for people like you. The agreement of the loan becomes effective once you sign a bill of sale document with your lender which in essence makes the lender the temporary owner of your car until you clear your loan.

What are the benefits of logbook loans?

<li>You can get a loan even if you have a poor credit history as there are credit checks done by your lender.</li>
<li>You get to keep using your car as you make repayments</li>
<li>The loan is processed very fast as there are no huge paper works to be prepared.</li>
<li>You enjoy flexible repayment period of up to 36 months</li>
<li>The loan terms are easy to understand and you borrow the amount you need based on the value of your car.</li>
<li>The eligibility criterion for this kind of loan is not stringent as compared to other kinds of conventional loan products.</li>


Are there any disadvantages?

Of course there is. The number one disadvantage is the fact that car logbook loans attract a very high interest rate and therefore you end up paying almost twice the amount you borrowed. There is also the risk of the lender repossessing your car if you are unable to make repayments.
To sum it up, logbook loans offer a person a great opportunity to get the much needed cash even with bad credit.

Is Having Debt a Necessary Evil?

Is Having Debt a Necessary Evil?

I, like everyone else, wants to be free of debt, to be financially stable and buy anything I want, whenever I want without giving a hoot or having to glance at my bank balance. Of course, we both know that this is something only a few people are privileged with. Most of us have to carefully budget and take into account how each penny is used lest we end up in the unpleasant debt rut. If we were to live out our fantasies, most of us would probably be the bill gates of this world or the super rich celebrities we see lead their lives with reckless abandon.
The question is, is having debt a necessary evil? Can we operate in this world without having debt of any sort? You probably know that some of us are born already indebted. If the concept of national debt or burden our countries carry is anything to go by, then it means that all of us are born into debt. The more indebted a country is; the higher the taxes, the higher the cost of living and ultimately, the deeper we get into debt to meet our needs.
With this in mind, the question of whether debt is a necessary evil can be answered as yes and no. There are those who belong to the school of thought that debt is a consequence of the choice we make be it good or bad. I ascribe to this school of thought as sometimes we are forced to borrow for a myriad of reasons. Of course, saying that we can save money until it’s enough to see us through college or buy a house might take ages. In fact, it will mean we forego opportunities which if hijacked could turn our lives for the better. In such circumstances, debt is a necessary evil which we must engage in to meet our immediate needs with the hope of making things better for the future.
On the other hand, debt can also be as a result of our reckless spending, poor choices and lack of financial discipline. Let’s face it. There are people who simply cannot control how they spend their money. There are people you can give a million dollars today and by the end of the year would be as a poor as a church mouse. It all boils down to financial decisions a person makes. I personally believe in the adage that failure to plan is planning to fail. It doesn’t matter how rich or poor you are. Evading the debt rut requires financial discipline in how we spend our money.
Reckless spending leads to unwarranted debt and inadvertently, bankruptcy. With the right planning, guidance and direction, debt can be avoided. We simply need to be disciplined, to use money for what we need not what we want and to follow plans or budgets as we set them. The power is in our own hands and ultimately, the decision and choices we make haunt us every now and then. Does that mean that we have the power to determine how indebted we can be? I absolutely concur. As my mom once taught me, never bite what you can’t chew. In the long run, it’s better to be safe than sorry.

Ways in Which You Can Get Out Of Debt for Good

Ways in Which You Can Get Out Of Debt for Good

When debts spiral out of control, what follows are frustrations, lack of peace of your mind and always startling whenever your phone rings. You shudder at the thought that your creditor might be calling you any minute asking you to pay up. The feeling is something all of us wish we couldn’t go through. Be as it may, being in debt is not bad so long as it’s manageable. It only becomes worse when it spirals out of control. Of course, wise spending and having a proper plan can help you from getting deeper into debt. However, what happens when you are already deeper into debt and your back against the wall? How can you wiggle yourself out of debt and be deft free? We are going to look at ways in which you can get out of debt faster and effectively.

Make a habit to spend less than you intend to spend

Being debt free requires that you make a number of sacrifices some of which might require you give up on things that basically comfort you. A popular adage has it that you can have everything you want but affording what you want is the difficult part. Scores of people find themselves indebted because they buy what they want even if they can’t afford it. Even the filthy rich of the earth can’t have everything they want. There is always a ceiling of sorts. Make it a policy to buy something only if you badly need it and if you have the cash to buy it. Most of your cash should go into clearing your debt. As such, desist from impulse buying or buying things for the sake of buying.

Buy second hand quality items than investing in a new

Want to buy a car? Why not invest in a second hand quality car than buying a new one. A car is a depreciating asset and the moment it’s out of the show room, its value starts to depreciate. You can save thousands in dollars in buying a second hand item than investing in a brand new one. On the other hand, if you choose to purchase say a new car, ensure that its fuel efficient and has a long car life. The money you save can go a long way in helping you offset your debt faster.

Avoid impulse buying

Most of the time, we buy things we don’t need, with money we don’t have, just to fit in and be like others. We spend in the spur of the moment simply because there is a great offer or an item looks attractive. Desist from impulse buying and only buy things that you need. The money saved can be used to offset your debt and help you get out of it.

Stretch your shift or get a second job

We both know that clearing your debt fast requires that you increase your income sources. If you work 7 hours a day, it might be time you considered stretching to 10 or 12 hours a day. The money you earn from overtime can go a long way in clearing your debt. Alternatively, you can get a second job and increase your income which will be instrumental in clearing your debt.
Track the amount of cash you spend and cut back on unnecessary expenses
Don’t spend blindly. Draw up a list of items or things you mostly spend on and find a way in which you can cut back on it. If you drink 2 beers daily or go out every weekend, it might be time for you to give such luxuries for the purposes of paying off your debt. The money you spend on luxuries can be diligently used in clearing off your debt.
Bluntly put, getting out debt requires a commitment, a proper plan and a sacrifice of sorts. It’s the only way you can have peace of mind as you go about your life.

Steps To Effectively Manage Your Debt

Steps To Effectively Manage Your Debt

Mention the word debt and it evokes in people a kaleidoscope of emotions. You will agree with me that the feeling of being indebted is not a pleasant one. In fact, being deep in debt not only hurts our pride but also our self-esteem. We are constantly stressed, lack peace of mind and always wondering what will happen with the skyrocketing interest rates. The one million dollar question to all those who have little or huge debts is: how does one manage debt? What are some of the effective ways that a person can utilize to manage their debt?

Know the people you owe and the amount of money you owe them

When it comes to debt, burying your head in the sand is not the solution. Getting out of debt requires that you become proactive and deal with your situation head on. As such, it’s important that you make a list of the people or institutions as well how much you owe each and every single one of them. Tally the total amount of debt, due dates for each, and the total monthly repayments you are supposed to make. You can only come up with an effective repayment plan if you understand who you owe and how much you owe them.

Ensure you make timely monthly repayments

Once you have a clear picture of the people you owe and the amount of money owed to them, the next step is to ensure that you make monthly repayments on time. We both know that late repayments attract interest rates which in turn make it very difficult for you to get out of the debt rut. You can make use of a bill payment calendar to ensure that you make your payments on time and when you receive your paycheck. Do not forget to adjust your debts as you continue making repayments.

Make efforts to at least pay the minimum payment

While paying more makes you offset your debt faster, sometimes you are simply not in a position. In such a situation, it’s always imperative to ensure that you pay the minimum payment required of you. The merit of this is that it keeps your debt from growing and therefore saves you immense stress.

Make a decision on which debts you should pay off first

Whether you like it or not, the truth of the matter is that your debts attract different interest rates. You should always purpose to pay off debts that attract high interest rates. Credit card debts with high interest rates should be your first priority when repaying debt as they are instrumental in ensuring that your debt does not grow to untenable levels. Alternatively, you can also pay off debts with lowest balances.

Make it a plan to draw a budget and plan on your monthly expenses

A popular adage has it that failure to plan is planning to fail. On the same note, ensure that you have a proper plan of your monthly expenses and whether your income can meet those expenses. A budget gives you an idea of how you can effectively use your income, make payments for recurring monthly bills and how to use any extra cash you have after meeting all your expenses. If you notice that you have extra cash from your budget, you can use the same to offset your debt faster.
In conclusion, effective management of debt is the first step towards leading a debt free life. While we all have some kind of debt one way or the other, how we manage the debt determines how stressful or stress free our life becomes. Always purpose to ensure that your debt doesn’t spiral out of control.

Is It Possible to Stay Out of Debt?

Is It Possible to Stay Out of Debt?

Ask any expert and they will tell you that the number one cardinal rule of staying out of debt is through ensuring you cut down on your expenses. Of course, being told to spend less is one thing and acting on it another thing all together. However, the allure of being debt free and stress free is something that most of us can’t resist. We badly want to be able to manage our debt or better still, stay out of debt all together. But, is it possible to stay out of debt? What measures can we put in place to ensure that we stay out of debt? There are simple rules that if religiously followed, can help a person get and stay out of debt.

Always spend less

With attractive mindboggling offers from all corners, the temptation to buy things we don’t need with money we don’t have has never been higher. There are always attractive offers that push us into spending more than we had budgeted for. The first cardinal rule you need to always observe is to never spend cash on something unless you can afford or badly need it. Ensure that you draw up a budget, know how much you earn, how much you spend on your bills and most importantly, always stick to your budget no matter how attractive offers are coming your way.

Make it a habit to pay in cash

That credit and debit cards make people to spend more is not refutable. Credit cards make people comfortable and confident knowing that they can spend the money they don’t have and pay for it later. It gives people some sense of false confidence. The downside is that it serves to push people deeper in debt as they do not feel the pinch when spending but are dumb struck at the end of the month when they are required to pay debts. So what’s the remedy? Always pay for your goods in cash. If you don’t have the cash to purchase a particular item, chances are that you don’t need it.

Give credit card offers a wide berth

With numerous credit card companies jostling for customers and rolling out attractive credit card offers every now and then, sometimes it becomes impossible to resist the offers. However, if you are to stay out of debt, you need to ignore the offers. Only use credit cards during emergencies and spend within your means. You need to spend what you are capable of paying at the end of the month.

Be realistic

Let’s face it. We live in a consumer driven society where everything is packaged to look attractive and pique your interest. Only spend on things you need and avoid impulse buying. Ignore the incessant calls from overzealous marketers. If you can’t resist offers, it’s imperative to avoid going to certain stores or better still, engage in one of your hobbies that will keep you busy.

Ensure you pay off your credit card

Timely monthly payments can mean only one thing; that you won’t be indebted to any credit card company. If possible, pay above the minimum payment required and use your credit card wisely. Keep your credit balances as low as possible or zero. High interest rates can push you into debt before you know it.
If you were wondering how you can get out of debt, the above steps can put you on the right road to becoming debt free!