What is a Log Book Loan?
8 December 2009
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18 Comments
A logbook loan is a loan secured on the logbook of your car. If you own a vehicle, it is now possible to get a loan with your car or guarantee of safety, where the logbook as a guarantee.
How do they work?
The logbook acts as a proof of ownership of the car and the loan is secured against the property of the car.
The logbook loans can be a quick and easy way to obtain a loan. They are suited for borrowers requiring immediate funds quickly.
The logbook remains in possession of the lender for the period until the loan was repaid. The car remains in the possession of the borrower. The borrower must keep the car in good condition, and continue to cherish the road tax and ensure the car has valid insurance and MOT.
Borrowing Criteria
There are basic criteria which must be received by the borrower to obtain loan book. Namely:
• The vehicle must not be older than 8 years.
• The vehicle shall not be used collateral
• If the vehicle was used as collateral, the vehicle must be clear of all contributions.
• Taxes and insurance due on the vehicle must be paid in full before the vehicle logbook is promised to loan book.
• The vehicle must have passed the technical tests and MOT test to be eligible for loan book. British each vehicle must be tested after every 3 years in order to verify its validity.
• A loan of the borrower should be in full-time employment. He or she should have a regular source of income.
• The logbook must be on behalf of the borrower.
A logbook loans generally do not require credit checks, making it an ideal way of borrowing for people with poor credit and solvency. The loan amount will depend on the lender and the value of the vehicle.
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Help answer the question
Is student loan still tax deductable when refinancing a student loan with a personal loan?
My daughter has two very high interest student loans. Her credit won't let her do anything, but I can "refinance" it with me getting the loan using my credit. But is it still a "student" loan that she can deduct. She is making the payments and her name will be also on the loan (ironically, she will co-sign for me). This seems to be some gray area once the loan gets moved around. Just want to make sure the "chain of custody" still makes the new loan interest tax deductable. Hope this made sense and thanks for your help.
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Most Dealerships cannot send the papers to the bank to be funded until you have signed your agreement to sell car and everything the bank requires is all together. After the dealer has everything the loan requires he then sends it to the bank. Depending on the amount of time between the first approval call and the dealership sending the paperwork in, the requirements might change. This could be why it has not been funded. I would contact the bank and enquire as to the status of your loan and if it has not been completed yet you might be able to stop the process at that end, however depending on what you signed at the dealership you may or may not be able to get your deposit back.
figure out your interest rate for the first year of a 30 year mortgage. Ask your bank for a list of their fees. Payday loans can cost you money just like anything else you borrow against. Here is a tip don’t borrow money in any fashion. I am a lender and we don’t loan to people who don’t have the ability to pay the money back. After I pay all of my bills to run the company I don’t make anything close to 400%, that is such a lie.
@HowlinJay I work for a payday loan company myself and get treated like shit. I got trained to do things I thought I was suppose to and all of a sudden my manager has done nothing but treated me like shit telling me everything I’m doing is “wrong”.
Depending on the limits of your courts, take him to small claims court and bring all of your evidence. He will have to pay you back. You can garnish his wages.
Payday loans benefit people who get paid monthly. You have to wean yourself off them and that is what I am doing. I believe that the government should regulate the interest of payday loaners. People will call that socialism, but it is better to do that then to take advantage of low income middle class people. School systems, parents, communities, and our federal government need to take a class in economic and financial literacy.
she fat
First, you only have to be enrolled six hours to get a stafford loan. But if you did enroll less than you originally planned, they could make adjustments as your tuition reduces, though this is probably not likely. (Only a pell grant is actually based on the number of hours you are enrolled and could decrease if your hours were less than full time.) Depending on the timing of your loan disbursements and your scholarship the school COULD have reduced your loan to prevent an overaward, but if your loan was disbursed BEFORE the scholarship was awarded AND this is your final disbursement they should not make any reductions. If you still have another disbursement for this loan period (maybe a second spring disbursement or a summer one) the school COULD make this reduction. But, if the loan was reduced, the school is required to notify you and tell you why. If you are unsure, I would go to the office for more details. I would also check with the Bursar's office to see what charges are on your student account. Lastly, CollEDGE was bought by Nelnet some time ago and COllEDGE doesnt exist. I would check on this also. Good luck. Sorry for so much writing, but there are alot of "if's" in this answer.
fuck a payday loan
LOOOOOOOOOOOL
I work for a “Payday Loan” office…they’re fucking evil. Trust me.
The company I work for treats their employees like shit, and they don’t give a goddamn about the customer.
The gentleman at :42 appears to be retrieving a rifle and box of ammo from the back of his truck. Perhaps he is attempting to settle his debts in a non-traditional manner?
BANK OF AMERICA IS THE MOST CORRUPT BANK IN THE COUNTRY!. Bank of America harassed me, ruined my credit, charged me over $800 in fees over a 10 day period, tried to humiliate me, and never stopped calling my house- all because of $50 overdraft!!
In one day I was charged over $250 in overdraft fees because of a company that took advantage of my bank account- BofA charges more fees than any bank in the World!
how would you that legaly?
Contact the C.A.B they should be able to help you but I would have thought that coming to your home and threatening you is against the law?
Hello everyone,
My name is Mrs Maureen Solomon and life is worth living comfortably now for me and my family now and every day of my life now, i sit down and smile and thank GOD for saving us because i am a mother of three kids and i my husband encountered a terrible accident in the past that made him suffer from a serious spinal cord injury that have made him to be unable to stand, walk or work and his doctors states that he needs to undergo a delicate surgery for him to benable to walk again and we could not afford the bills for his surgery and his
medications costs us so much weekly and i have been solely responsible for thenup keep of the family ever since and life felt so hard and it to a point we have no funds for our rent we were about getting evicted from our house by our landlord and we felt so terrible as we could barely eat until one very faithful day, i was browsing through yahoo answers and i came accross a loan lender Mr Tom Davis who provides loans at an affordable interest rate and i have nbeen hearing about so many scams on the internet but at this my desperate
situation, i had no choice than to give it an attempt and suprisingly it was all like a dream, i received a loan of $100,000 USD and we payed our rent and did not get evicted from our house and my husband had his surgery and thank GOD today he is okay and can walk and is working and the burden is longer so much on me and we can feed well and my family is happy today and i said to my self thatn i will shout aloud to the world of the wonders of GOD to me through this GOD fearing lender Mr Tom Davis and i will advise anyone in genuine and serious need of loan to contact this GOD fearing lender via tom_davis_32037@yahho.com
The other guy gave a good overview of logs, but I'll address your example. There are four areas on the page for logging hours. From top to bottom: off duty, sleeper berth, on duty not driving, and driving. Each page covers 24 hours and starts with 12 midnight. If you wake up at 7 am, I'll assume you've been asleep since 12. So, you would carry your line on the sleeper berth section from 12 to 7. The you'll probably pre-trip your truck and get ready for the day. You would drop down to on duty not driving for however long that takes. Once you start driving, you would run your line down to that section. At the point that you came on duty, you would have to run a flag down and indicate what city you're in in the comments area. Most log books describe all of this on the inside cover.
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