Are Logbook Loans Changing the Short Term Finance Industry?

It is often quite easy for people to look at the short term loan industry and dismiss it straight away out of hand, but without knowledge of the market it it’s not always the best idea to dismiss something so readily if you don’t have the facts.

Forms of short term loan that are less in the public consciousness such as logbook loans offer a variation on the Payday loan model.  You are using your car as security which in general terms means that you are using an asset to raise finance.  This is a common type of financing in business, so why should it not be used for consumers looking for money for a short period of time.

Interest rates for these type of loans are generally a lot higher than other forms of loan, but that is because the loans are designed for a short period.  They are not designed to be kept for long lengths of time such as ordinary car finance or nowhere near as long as a mortgage for example.  The quicker you can pay one of these loans off the better.

Good logbook loan lenders will thoroughly check an applicant before they are given a loan, issues only seem to arise when lenders allow applicants to take out loans when they can’t afford them and they then have to repossess a large number of vehicles.  Practices like this have given the industry a bad name in the past, but this is being remedied by the introduction of regulatory bodies which keep a close eye on lenders and ensure they follow strict guidelines.

There are always two sides to an argument when it comes to short term loans.  Some might say that lenders are preying on vulnerable people who need cash fast and don’t read the small print, these people then fall into downward spirals of debt and find it extremely hard to dig themselves out.  There are others who believe that loans should be freely available to all and as long as the interest rates and terms are clearly stated and the customer knows exactly what they are getting themselves into then there are no problems.

The fact remains that v5 loans should be aimed at those who need a quick injection of cash and know that they can pay the loan back quickly.  There is no point paying large interest rates when you are keeping a loan for many months or even years.

If you are looking to take out a loan, it’s always best to get some advice first.

Logbook Loans applications using your mobile

Mobile apps are changing the way we work in quite considerable ways, consider how easy it is now to apply for something like logbook loans from a mobile.

Technology has come a long way, the internet changed everything, giving you the ability to apply for a loan without the need to speak to anyone on the phone, now mobile apps and browsers mean you are able to apply for loans wherever you are.

With the ease of doing this it has however highlighted the fact that credit is so easy to obtain in today’s world.  It is very easy to just log on and apply for credit.  This has implications for the amount of debt people get into as well as the state of their credit records.  If credit searches are continuously being conducted on people, their credit ratings could be progressively getting worse.  This is why logbook loans are popular amongst some, because lenders don’t search your credit record when you are taking out a loan.

This is an interesting article about how your credit record works and gives you some tips on how to make sure you don’t get into problems with it.

Find out more about logbook loans by watching this video.

Employing a Non Executive Director – Why?

If you have ever thought about becoming a non executive director because you have experience in a certain market then you are not alone.  Experienced professionals all across the UK are becoming non execs because it offers them a chance to get involved in a company, work on a part-time basis and often make an investment in a growing company.Business Man

There are plenty of case studies of people who have been successful chairs or non-execs on this website www.nonexecutivedirector.org.uk which connects companies to people looking for new roles.

In the business world experience counts for a lot and non executives can bring experience and contacts to a business very quickly.  Sometimes businesses hit a snag and growth slows or they hit a brick wall.  In many cases all it takes is someone with some experience and maybe a few contacts to get growth started.

Bringing a person onto the board can set a company on a course for success because they have new ideas and new ways of doing business, they can bring other people in and freshen the company up.  In some cases the new non-executive director will bring investment, maybe from themselves personally or from other investors.

Investment in this way can be the perfect scenario, not only are new expertise being brought into the company but new investment too.  With the right take up of the new ideas a company can benefit greatly from this.

The video below is quite an interesting look at what a non executive director actually is.

Logbook Loans and Mobile Health in the Developed World

Mobiles are changing the way we do everything in today’s world.  Not only are they improving healthcare and the ability to get education to people who need it the most but they are changing the way people work in developed countries.

In terms of managing people’s financial health with a mobile device, there are now all kinds of apps that allow people to budget and even apply for loans, via their mobile phones.  All this is a huge step forward for technology.

Some would argue that this is going too far, do we need to apply for a loan whilst on the move?  The ethics of lending is interesting and we are still coming to terms with the ability to take out loans so quickly and easily and the impact that has on society.

The business of lending is very much in the news at the moment, Payday loans are increasingly in the spotlight and consumers are becoming more aware of the risks of unscrupulous lenders offering quick cash with a catch – very high interest rates.

The reason that these loans can often be so expensive is that they aren’t secured against anything you own, so there is a risk for the lender in providing the loan.  Interest rates need to be high in order to justify this.

Other forms of loan

There are however other types of loans that if you don’t own a property as security can be useful to have.  For example logbook loans are one of the cheapest ways to take out a cost effective loan if you choose the right lender.

These kinds of loans lend to you using your car as security, if you don’t pay the loan, your car is at risk.  This means that a good lender is able to offer a loan at a competitive interest rate because they have already valued your car and completed the checks on that.  They know that if you fail to make your payments, your car will cover some of their costs.Loan money

More awareness needed

It’s striking that logbook loans aren’t discussed more when it comes to discussions about Payday loans and other lending that has been under the spotlight in recent years.  If you choose the right lender, one that doesn’t have early settlement fees, one that scours the credit market to find the best interest rates and one that offers flexible payment terms, then in many cases you can get a good deal if you need short term cash fast.

Of course loans should only be taken out if you know you can pay it back.  Reputable lenders will conduct checks on applicants on a few indicators to make sure that they are in a position to be able to pay the money back, but at the end of the day only you know if the loan is affordable for you.

The Mobile Alliance for Maternal Action

Mobile technology is helping people in all areas of life.  One of the most interesting areas is improving the health of pregnant women in developing countries.

The Mobile Alliance for Maternal Action (MAMA) was set up as a partnership between public and private sectors, together with some involvement form the United Nations.  The organisation enabled text messages to be sent to new mothers as well as expectant mothers who are known to be at risk because of lack of adequate healthcare or education.

These messages are culturally sensitive in the sense that they work with local cultures to deliver the messages in a way that is best for the women in that culture.

The fact these women already own the technology is one of the reasons why it is so successful.  In the case of mobile devices, they probably use these every day and they are second nature to them.

The messages that are sent are based on evidence of what has worked in the past and the kind of information expectant and new mothers need to have access to.  Information about nutrition or vaccinations, as well as about care before and after birth comprises a large part of the info.

In terms of vaccinations, new mothers can be sent a text message saying that their babies next vaccination is due and where to go to have it.  The messages of course are tailored to specific areas and people at different stages of pregnancy.

Family planning

Mobiles can also be used effectively for family planning so mothers and their partners receive education before they have children.  Mobiles are able to address all kinds of issues like this and are a valuable tool for getting to the heart of the issues.

The core part of all this is the delivery, access is now granted to vulnerable people in a way it never has before.

Mobiles can transform the delivery of education

Healthcare at the moment is being transformed by mobiles, and action groups are working all the time to improve this.

Mobile Phone
One of the most exciting areas aside from health when it comes to using mobiles in developing countries is education. Educating people who have never had access to good education is something that can open doors for people.

The life chances of millions of people can be improved through the delivering of education via mobile devices to them. Just raising the awareness of people about educational programmes, workshops or business opportunities in their area can drastically improve people’s ability to better their lives.

Mobiles are able to cross any social class in developing countries because nearly everyone has them. In the past maybe the richer few had access to education and chances to learn more about the opportunities available to them. Now, because mobiles are universally used, the potential for more widespread education is far greater.

Enthusiasm

In developing countries there is often a thirst for learning. People are desperate to learn in many cases, and being able to use the mobile phone as a window to this learning is going to be something that they will do as phones are so widely used and understood.

Now it is up to educational establishments to put teaching materials into formats that are able to be delivered to mobile phones. Of course this takes time and money to do but the benefits of how widespread this would be could be quite incredible.

So far efforts have been quite small scale, bit part projects and tests to see how well potential schemes will be taken up. In order to make a real difference there need to be long term sustainable initiatives put in place using mobiles as a way to educate those who need it the most.

Sometimes there can be a stigma that if education isn’t delivered at a University or by a text book that it isn’t as good as other forms. As we move into a completely new digital age these views need to change. If the information is right it doesn’t matter how someone consumes it, the easier the better.

People who have never had any access to any form of education before will be able to improve their lives and possibly the lives of others through these initiatives. Mobiles truly can change the world if we put them to use in dynamic ways.

Mobile Health and How Technology Can Make a Difference

The world has been changed by mobile technology, and the field of healthcare is no exception in this.  Healthcare has moved on and is continuing to change because of the increasing ability to use mobile devices in the field.Smart phone

One of the most overriding benefits is giving people in developing countries better access to information through their mobiles.  The use of mobile phones in developing countries is very large, never before have the poorest parts of the world been so accessible in this way.

There is an improved ability for mobile applications to allow people to diagnose diseases via their mobiles and access information and education, health and treatment.  One of the best ways that mobile devices can benefit the populations of developing countries is through education.

The field of mobile health doesn’t just allow people to improve their own health and access information but it also enables healthcare and other authorities to gather data about healthcare problems, as well as political and environmental issues.  Data may have been far more difficult to gather on these subjects in particular locations in the past.

There are numerous discussions and conferences around how mobile technology can be utilised in this area and how it can be so useful to the populations of developing countries.  One of the key questions is how do we use this technology to improve people’s lives and life expectancies across the developing world.

Technology is at our fingertips and we can do so much with it, it is now just a case of organising that technology so it can be of great benefit to people whose lives could be improved by its use.

Two way communication

Communication with people in poor rural areas in a two way dialogue, via SMS or voice can transform the reach of education and resources.  Just being able to provide useful information to people at risk in rural areas is a real step forward.

This information isn’t solely restricted to mobile phones or smartphones.  Other devices such as laptops or tablets are being developed that are at a price point that can be affordable in developing countries.

As technology develops and mobile health strategies advance, there is an opportunity to improve lives.