Loans Information

Luxury Real Estate Information


Rancho Palos Verdes, California Homes
Palos Verdes, California Homes
South Bay, California Homes
Luxury Mexican Beachfront Homes

Featured Properties


Oceanfront Estate Near Trump National

Related Information


Loan Information
Real Estate Information
Mortgage Refinance Information

About Personal Loans


What are personal loans? They are unsecured loans that a borrower obtains for various purposes. This type of loan is often used to consolidate outstanding debt into one monthly payment, but it can be used for other things such as paying for a wedding, a vacation, or something similar. It is an unsecured loan because the borrower doesn't put any assets up as collateral.

What Are The Advantages?

Loans for personal purposes are useful for borrowers who don't have assets to offer as collateral (such as a house) but have a need to borrow money. When this type of loan is used to consolidate debt, for example, the typical result is a reduction in interest being paid plus the convenience of making a single payment to one lender.

What Are The Disadvantages?

Because it is unsecured, this type of loan usually comes with a higher interest rate than other types of borrowing. The lender is taking a greater risk by lending without the security of collateral, so they charge the borrower more to help offset the risk.

Additionally, it often comes with restrictions on how you can spend the money you receive, and the amount you can borrow is usually less than with a secured loan. Again, the bank is taking more of a risk by underwriting an unsecured loan so they want to make sure the money is used for the purpose stated in the loan application.

What If I Have A Poor Credit Rating?

Your credit rating will be a consideration for the lender. The combination of a poor credit history and an unsecured loan is unattractive to many lenders, so if you're in this situation you will likely have to work a little harder to get a loan.

If your purpose for taking out a loan is debt consolidation, though, some lenders are more willing to consider your application because your intent is to reduce debt and get your finances back in order. When in doubt, talk to a loan representative over the phone or in person to discuss your options.

Where Can I Find A Lender?

There is no shortage of lenders who make unsecured loans so you have many resources available to you. If you already have a lending relationship established with your bank or another institution, this is a good place to start. Many lenders are more willing to underwrite such a loan for a customer who has already demonstrated a responsible and timely payment history.

The internet is also a rich source of prospective lenders. Whatever your personal situation, there is probably a lender somewhere out there who specializes in borrowers such as yourself. Make sure you fully understand the "fine print" of their loan policies and expect to pay a higher interest rate if the lender regards you as a higher risk borrower.

For many borrowers, an unsecured loan is a good choice for their specific circumstances. Whether it's debt consolidation, paying for a wedding or some other purpose, if you're considering personal loans it's important to check out multiple lenders and look for a lending program that meets your needs.

This article may be freely distributed providing no alterations are made to the text and the link remains intact.

Copyright © http://www.4a-loan.co.uk - All rights reserved.

For Personal Loans | Secured Loans Please visit us at http://www.4a-loan.co.uk


MORE RESOURCES:
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news


Wall Street Journal

Leveraged Loans Not as Safe as They Once Were
Wall Street Journal
Investors bought record amounts of junk-rated corporate loans in recent years, betting they would deliver more stable returns than high-yield bonds, but the loans are no longer as safe as their owners may think.



Center For American Progress

What Do We Know About Student Loans? Less Than You Think
Center For American Progress
Despite the fact that nearly 1 of every 5 American adults is saddled with student loan debt—a total of $1.5 trillion—little is known about the various, often-treacherous paths borrowers take as they navigate repayment. The landscape remains such a ...
Report Reveals How Borrowers Recover After Federal Student Loan DefaultThe Student Loan Report

all 13 news articles »


Journal Gazette and Times-Courier

9 Alternatives To Payday Loans
Journal Gazette and Times-Courier
You have an important bill to pay and not enough money to pay for it. A payday loan might be the solution to your problem – if you don't mind paying very high interest rates. It's not uncommon for payday loans to have APRs above 100%. Is there a better ...

and more »


U.S News & World Report Money

Everything You Need to Know About Parent PLUS Loans | US News
U.S News & World Report Money
Parent PLUS Loans are for parents or legal guardians of undergraduate students to help pay for college. They have greater repayment flexibility, but often have ...
How to Find How Much You Owe in Student Loans | Student Loan ...U.S. News & World Report (blog)

all 4 news articles »


Forbes

Student Loan Forgiveness Dos And Don'ts
Forbes
If you pay attention to these "do's" and "don'ts," then you'll be on the right track for student loan forgiveness. Here's what you need to know. Student Loan Forgiveness. If you have student loans, you're not alone. According to personal finance ...



Fox Business

Fannie Mae, Freddie Mac offer home loans for 3% down | Fox ...
Fox Business
The products are designed for individuals with low-to-moderate income levels.

and more »


St. Louis Business Journal

Commentary: Student loans and death
St. Louis Business Journal
The media has recently focused on the student loan ticking time bomb for both students and parents. As bankruptcy lawyers who have represented debtors from the lowest to the highest court in the land for more than 40 years each, we've seen this unfair ...



Bloomberg

Indonesia Inc. Finds Solace in Loan Amid Emerging Market Woe ...
Bloomberg
Indonesian borrowers are quickly learning who their real friends are. Their lenders are continuing to extend loans, as bond investors get cold feet amid concerns ...
Indonesia Inc finds haven in loans amid emerging market woeThe Edge Markets MY

all 6 news articles »


U.S. News & World Report

Can You Pay Student Loans With a Credit Card?
U.S. News & World Report
When you move student loan debt to a credit card, you give up certain protections. For example, you no longer have consolidation, deferment, forbearance or loan forgiveness options. If you have a federal student loan, you'll lose options for death ...

and more »


Student Loan Hero (blog)

Ask a Hero: How Do I Combine Student Loans From Different Servicers?
Student Loan Hero (blog)
Dear Student Loan Hero,. I currently have two student loans from two different loan servicers. Is there a way I can combine these loans together into one loan and decrease my monthly payment? Dear Student Loan Borrower,. Dealing with multiple loan ...
College Student Journey - American Academy of Arts and SciencesAmerican Academy of Arts & Sciences
Failure to Launch: Americans Still Rely on Parents to Help with Mobile Phones, Gas, Groceries and Health InsurancePR Newswire
The Demographics of Wealth - Federal Reserve Bank of St. LouisFederal Reserve Bank of St. Louis
Student Loan Hero -Money Magazine
all 17 news articles »

Google News

home | site map
TIGER MEDIA© 2006