Some people are refused a payday loan because they are self-employed or unemployed or because their monthly out-goings are higher than their income - or sometimes because the minimum net salary requirement is not met.Others may have bad credit such as CCJ's, Defaults, be in arrears with loan repayments even though their net income is acceptable - payday lenders that carry out credit checks can see your credit status when they get your credit file.So if you fall into one of these categories what can you do - what are the alternatives to payday loans? Well, if you have a car then you may be in luck - you can qualify for a logbook loan. Logbook Loans offer a secured, same day loan solution by using the logbook of your vehicle as security.
One of the biggest companies in the UK that provide logbook loans go by the similar name: logbook Loans. They are a reputable company and have a Consumer Credit License to operate in this market from the Office of Fair Trading (OFT).The loans are available quickly (most of the time within 24 hours). And better still, NO CREDIT CHECKS are carried out so your credit file is not accessed and therefore applicants with Bad Credit are ACCEPTED. This is great news as even people with Bad Credit are not excluded from the loans market.
