You can bang out a university essay in one night, lots of students do it, they won't do particularly well though.
If you find yourself in this situation a lot you need to ask yourself why are you at uni....are you just taking on the debt so you can live in an environment with other young people and socialise, because you don't actually have to take on so much debt for that.
Yes there will always be people that reckon they sound cool when they have stories like "I did 3 assignments in 3 days booyakacha" but it just shows you aren't really engaged in your degree and are going to accept mediocrity. Maybe in the old days when it was free with grants from the government that could be excused but it's a bit sad tbh, when you are looking at taking on many thousands of pounds worth of debt.
Especially in a subject like law, where there are loads of threads on here from people anxious about getting jobs and being told how ruthlessly competitive it is to get training contracts with loads of people with top degrees from top universities....if you have just got an ok degree because you put everything off till the last moment then you are going to have a hard time fighting your way past them so you will probably end up in the type of job you could have got without taking on all that debt.