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5 Steps to Get a Bad Credit Personal Loan

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Posted on 12th January 2012 by Sandra Thompson in 1

Acquiring a bad credit personal loan is not so difficult these days since many lending companies are willing to extend financing to customers with bad credit.  If you need immediate financial help and wants to apply for a bad credit loan, remember this five steps:

1. Know your credit score. You can order your free credit report from www.annualcreditreport.com – the only resource authorized by the government to distribute free consumer credit reports.  If your report contains errors, your credit score can be badly affected.  You can send a dispute letter to the credit bureau to correct the errors and improve your score.  Remember that a higher score will win you a better deal when you apply for a bad credit loan.

2. Consider other options. If you need cash, don’t forget to consider alternatives such as borrowing from a friend or family member.  Since bad credit loans usually carry higher interest rates than regular loans, borrowing from a personal contact can save you a great deal of money on interest rate charges.  Don’t forget to create a written Agreement when dealing with a friend or relative about money matters to avoid problems. (more…)

Which is Better – A Secured or an Unsecured Loan?

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Posted on 5th November 2010 by Sandra Thompson in 1

One of the most common questions posted in finance websites and message threads is this query: Which is better, an unsecured personal loan or a secured credit account? It seems that a lot of consumers today are very much concerned about choosing the right and more beneficial credit program that they can use to finance whatever needs they may have.

So we have decided to discuss the answer to the question raised at the beginning of this article. We have also provided below a brief discussion regarding the major differences between a secured credit program and an unsecured personal loan. This way, we can help our readers choose the credit program that is more suitable to their needs and financial capabilities.

The Answer

Most finance experts would agree that there is no direct answer to the question. This is because secured and unsecured loans have their own sets of benefits and drawbacks which make them very distinct from one another. (more…)

Things to Consider Before Getting An Unsecured Personal Loan

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Posted on 9th September 2010 by Sandra Thompson in 1 |Unsecured Personal Loans

An unsecured loan is great option for people who need financing assistance but do not have suitable property to submit as collateral.  In fact, there are people who are in the position to submit collateral who choose to apply for unsecured loans to minimize the risks.

However, before applying for an unsecured type of loan, it is very important to first sit down and weigh the situation. In this article, we will talk about some important points that must be considered. But first, let us take a closer look at what an unsecured loan is. (more…)

Things to Consider Before Getting An Unsecured Personal Loan

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Posted on 7th September 2010 by Sandra Thompson in 1 |unsecured loans |Unsecured Personal Loans

An unsecured loan is great option for people who need financing assistance but do not have suitable property to submit as collateral.  In fact, there are people who are in the position to submit collateral who choose to apply for unsecured loans to minimize the risks.

However, before applying for an unsecured type of loan, it is very important to first sit down and weigh the situation. In this article, we will talk about some important points that must be considered. But first, let us take a closer look at what an unsecured loan is.

Characteristics of Unsecured Loan

No collateral. As a borrower, you do not need to submit any form of property to your lender in exchange for the money you will receive.

Higher rates. Because of the higher risk posed to the lender, unsecured personal loans are expected to have higher interest rates than loans secured with property.  (more…)

Your Unsecured Personal Loan Options

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Posted on 3rd September 2010 by Sandra Thompson in 1 |Unsecured Personal Loans

Personal loans can either be secured or unsecured.  For many people, unsecured loans are a better option because it does not involve the submission of collateral.  Hence, anyone, even tenants or borrowers who do not want to submit collateral can have the opportunity to borrow funds at any time they need to.

What Are Unsecured Loans?

As the name suggests, an unsecured personal loan is a type of loan that does not require a guarantee from the borrower. Because of the great demand for unsecured loans, many lenders extend this type of financing despite the higher risk involved.

Unsecured personal loans can be used for varying purposes.  It can be used to cover for emergency expenses, as additional funding for a business, as college tuition payment, or to pay down other debts.  Some people who plan to take a grand vacation may also apply for an unsecured loan to have money to spend during the trip. (more…)

Which is Better, a Secured or an Unsecured Loan?

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Posted on 31st August 2010 by Sandra Thompson in 1 |unsecured loans |Unsecured Personal Loans

The world of finance presents a lot of credit options. You can get different credit lines and accounts to support whatever needs you may have.

But sometimes, people encounter problems in selecting a credit program that will suit their needs. Because of the vast array of options, people find it difficult to choose just one credit line. They seem to be too concerned in getting better, if not the best credit option. They won’t settle for a good program. Instead they want only the best loan that can provide them the cash they need.

But in reality there are neither better nor best credit options. This is because the different types of loans serve different purposes and apply to different situations of people.

This fact can also be applied in comparing secured and unsecured loans. Both have their advantages and disadvantages. But neither is better than the other. Let us see why.

What is an Unsecured Loan?

An unsecured loan is a type of loan that does not require the provision of a security. This means that a borrower is not obligated to surrender a property as form of collateral for the loan. (more…)

Reasons Why You Should Apply for an Unsecured Loan

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Posted on 26th August 2010 by Sandra Thompson in 1 |unsecured loans

A domestic emergency usually requires family members to search for instant credit lines. This happens especially to families which do not have cash savings. But, as we all know, it is very difficult to get instant personal loans. Most credit firms ask loan applicants for collateral, in the form of home equity, cars, and other properties. But, what if you do not have anything to present for your loan security? Where will you get the money to finance the domestic emergency? The answer to this is simple: get an instant unsecured loan.

Reasons for Applying for Unsecured Loans
Instant unsecured loans are now provided by a growing number of lenders. Through this loan, you could instantly borrow up to $25,000, without providing any form of security. Thus, applying for an unsecured personal loan helps you save much time. In what way? (more…)

Tips on Getting Unsecured Car Loans for Bad Credit

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Posted on 23rd August 2010 by Sandra Thompson in 1 |unsecured car loan |unsecured loans |Unsecured Personal Loans

People who have bad credit usually find it impossible to locate lenders that will extend them credit lines to buy the cars they need. These people think that because of their poor credit ratings, their dreams of owning and driving their cars could never be realized. But, thanks to different credit organizations that offer unsecured car loans for bad credit, people with poor credit scores can now begin their quest of applying for a car loan and soon purchase the car they desire the most.

But what should I do to get a good unsecured bad credit car loan? To answer this question, we have provided several tips that will help you acquire a good car loan.

Tip 1: Obtain a copy of your Credit Report. – You have to get an accurate understanding of your credit rating, before applying for any unsecured bad credit car loan. (more…)

The Differences between Secured and Unsecured Car Loans

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Posted on 19th August 2010 by Sandra Thompson in 1 |unsecured car loan |unsecured loans

Most people find it necessary to get car loans so they could purchase the car they want. These people recognize that car loans are a sure means to buy the car of their dreams. The very reason behind this statement is the fact that though individuals understand the comfort and convenience that cars could provide them, most of these individuals do not have sufficient savings that will empower them to buy cars.

So, they get either unsecured car loans or secured auto loans from different credit companies, and eventually they drive home the cars they desire the most. But have you ever thought about the differences between these two types of loans? (more…)

Major Considerations in Getting Unsecured Car Loans

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Posted on 16th August 2010 by Sandra Thompson in 1 |unsecured car loan |unsecured loans

Owning a car used to be a luxury, but today, it is a necessity. A lot of people find it useful to have a car especially when traveling to their respective places of work. By means of cars, people achieve the comfort and convenience of traveling, which is usually not provided in most public transportation services we have. So, if you are among these people who recognize the importance of having a car of your own, but you do not have sufficient finances to buy you one, then it is time that you apply for an unsecured car loan.

Unsecured Car Loans are loan programs solely provided for the purpose of purchasing vehicles. A lot of credit institutions provide these loans to individuals who may not have properties to surrender as form of collateral.
(more…)