Logbook loan is the type of loan that is given to those people who have come up with some emergency or with bad credit cards and they have an urgent need of money. This money will be returned to the lender on a weekly basis. To calculate the money weekly repay, the borrower must do some mathematics to consider how much they want to borrow. What is the interest rate of the lender and within how many weeks, the borrower will be able to return the payment.
Logbook loan calculator:
Although, it is very difficult to calculate therefore, we have come up with a logbook calculator. It is very easy to use and very fast as well. This calculator prevents you from indulging into the long calculations of the loan for the weekly basis. The Logbook loan calculator will tell you the money that you have to repay every week considering the interest rate of the lender. Always check the Logbook Loan Calculator before getting the loan.
After you have seen the estimate of your repay, it is up to you to proceed further or stop at this step. If you further want to, then fill the application form and submit it. After verification and approval, your money will be delivered to you within 24 hours.
How long it will take to pay the loan?
It is not very difficult mathematics because you have a logbook calculator. It is totally up to you to adjust the duration of the loan that you can easily pay. This is the flexibility that this logbook loan calculator offers to its members. But if you try to stretch your loan payment period, this will create lots of trouble for you in the future. You will have to pay twice or sometimes even thrice than the actual amount that you have to pay. These books are only for their short term use, so they should be used on a short term period rather than sticking long term to it.
What are your earnings?
How much do you earn? You should ask this question to yourself before applying for the loan. Do you really think that you will be able to pay the weekly loan easily? You must have a stable source of earning to try these loans. Otherwise, they can put you in more trouble. If you can afford it, but have a very low wage, then don’t worry. Go to the logbook calculator; increase the number of weeks that you will take to pay the loan. This is how you can manage the number of weeks, according to your pay. But here is a problem. If you think that you can’t pay the loan in the shortest time then you shouldn’t go for the long ones. This can create more fee and even increased interest rates that will make you suffer a lot rather than taking benefit from the loan. You will have to pay even more fees for the long term loan as compared to the loans taken for a short term basis.