Monday, April 30, 2007

Unsecured Loans For Your Needs

You must have heard about secured loans, but have you ever heard about unsecured loans? If not you must know about it, unsecured loans are nowadays grabbing in the market all because of fascinating features enclosed in it.

If you are one among those borrowers who don't possess any valuable assets like home, car or valuable papers to lend for a loan then you must opt for unsecured loans. In unsecured loan, borrower willingly or unwillingly may not place his collateral against the loaned amount. For this reason unsecured loans are quite popular among the tenants, non-homeowners, students etc.

In unsecured loans borrower an avail the amount ranging from £1000 to £25,000. The cash approval in unsecured loans takes lesser time as no property or collateral evaluation is required. The repayment period for the unsecured loans generally ranges from 5-10 years.

In unsecured loans, no collateral is placed as a security against the loaned amount though lender is at higher risk. To compensate the risk factor lender usually charges higher interest rate to his borrower. But borrower's proper research can lead him towards feasible interest rates.

Unsecured loans can be used to fulfill the various needs of the borrower like

* Debt consolidation

* Vacation

* Education

* Car purchase

* Wedding

* Home improvement

Borrower's who are marked as bad credit like CCJ's, IVA, defaulters, arrear holders etc can also avail the unsecured loans but at higher interest rate compared to borrowers with good credit history.

Demand for the unsecured loans is increasing as borrowers who possess valuable asset also prefer to opt for the unsecured loans as they are free from threat of collateral repossession by the lender. But on non-repayment or irregular repayment of the loaned amount, lender may follow a legal step.

Unsecured loans help to fulfill the needs of the borrower without pledging the collateral against the loan amount.

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Saturday, April 28, 2007

Get Easy and Quick Cash Through Short Term Personal Loans

Short term personal loans are similar to payday loans, cash advance loans etc. In financial market, short term personal loans are known for quick financial assistance. In short term personal loans, the person is not needed to wait for long to get his loan amount approved.

Short term personal loans can be availed either from:

• Physical market lenders (banks, financial institutions and building societies)


• Online lenders

They are usually used for meeting small and day to day personal expenses such as electricity bills, tuition fees, medical bills etc. Interest rate is one of the important factors in any loan deal. It must be noted that short term personal loans carry high rate of interest. The lender charges high interest rates as it involves no collateral.

Short term personal loans are also available to bad credit scorers. Many times, it is seen that they are offered with high rates. However, by means of research and comparison it is easy to find the lender offering competitive rate of interest.

Short term personal loans are taken for short period. And, they are repaid within 15 days to 30 days. The person can extend his repayment period by appealing to the lender. For extending the repayment period, the lender charges an additional fee.

Following are some of the advantages of availing short term personal loans:

• Faster approval

• Available to bad credit scorers

• Quick financial assistance

• Hassle free process

Short term personal loans are also available through online mode. Online mode simplifies the overall task of applying for loan. It is seen that loan amount gets faster approval through online mode.

Before availing loan, the person must make sure that he deals with reputed and authorized lender in the financial market. And, along that he must not forget to consider his repaying ability.

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Thursday, April 26, 2007

Advance Pay Day Loan - Quick Cash Advance

Advance pay day loan is a loan of small amounts ranging between $500 and $1000 secured for short durations such as a week or two. Cash advance lenders usually charge $15 - $30 for every $100 borrowed. An advance pay day loan is usually secured until the customer's next payday. Over the last few years payday lending industry has become one of the fastest growing sectors with many millions of customers.

Truth about Payday Loans

Cash advance pay day loan is extremely useful if utilized in the right way. Many hardworking people such as day laborers, military personnel, and people from economically poor backgrounds find that an advance pay day loan provides them with timely relief. To many single moms it can make the difference between starvation and feeding her hungry children. It is indeed a blessing if utilized in the right manner.

The right manner refers to using services such as advance pay day loan only when they are absolutely necessary, by borrowing only as much as is affordable and making payments on time. It is a much publicized fact that advance pay day loan may have very high APRs, but some feel that it is worth paying extra when you get the money that you need which may easily be repaid later when due.

An advance pay day loan may be a curse when it is abused; when one too many such loans are secured and payments are not being made. The high APR may cause the situation to go beyond a controllable point, customers may end up paying many times the amount they borrowed yet not be able to repay the loan as the payments that they have made goes towards the fee and interest for extending or rolling over the loan. Making payments on time can be the secret to utilizing a loan such as an advance pay day loan without any repercussion.

Online Application is Quick

Right now, it is so easy and quick to apply for an advance pay day loan over the Internet. You save time and hassle by submitting the online application directly from the comfort of your computer. The application form is simple, which takes only a few minutes to complete. Many payday lenders do not even bother to check your credit history making the loan approval process much quicker. With the speed of the loan, you can expect to receive cash deposited directly into your bank account in the same day.

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Tuesday, April 24, 2007

Secured Loan Company Requires Collateral For Loan



While there are many loan companies in business today, a secured loan company typically does not offer signature loans and they are somewhat selective on the type of collateral they will accept to secure the loan. A secured loan company generally wants real estate or a title to a vehicle as collateral in the event the borrower defaults on the loan.

Your credit rating will play an important role in whether your loan application is approved, but your available collateral may have significant influence on the secured loan company�s decision if all other qualifications are borderline. A vehicle is not considered as desirable as real estate because all vehicles depreciate while real estate has a history of appreciation, providing more security of the company being repaid.

In rare instances where a person may need a little more collateral than they have in assets, a stock portfolio or savings account may be accepted by a secured loan company. However, in most cases the interest on the loan may be higher than the interest being paid on the savings account and the borrower may not want to make that trade off.

How Much Collateral Is Enough?

The amount of collateral that a secured loan company will require to give you a loan will depend on various factors including your credit rating, your income level and the amount of the loan. Generally, a loan for about 20 percent of the value of the collateral will be needed. For instance, if you want to borrow $8,000 collateral valued at $10,000 will be needed. For those with a lower credit score, it may be higher.

You should be careful when dealing with a secured loan company who is willing to use your paid-for vehicle for collateral, especially if they are making unusual demands. There have been instances where the secured loan company has demanded not only the title, but a spare key to the vehicle as well. A few unethical companies may charge an exorbitant interest rate, knowing you will not be able to pay it back and then take possession of the car with little or no notice, depending on the state in which you live.

Unfortunately, in most states this practice, while not necessarily acceptable morally, is not illegal and people have been left owing the money for the loan as well as being without their vehicle. If you borrow from a secured loan company make sure you get the details on the payback, the interest and that you can meet the payments.

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Thursday, April 19, 2007

Short Term Personal Loans - Big Money, Big Help to Erase Your Needs

You may occasionally need some money for certain personal needs which are short lived in nature. Obviously there are long term needs too in human lives but, short term needs are more serious things and need immediate coverage. You may need funds to make an improvement or renovation in your home or you may need it to go for a holiday to refresh your breath so long coiled around the busy office cubicles. And, for all these personal needs, there are short term personal loans which aid you any time, any hour.

To get relieved from the tensions of short term needs, people prefer short term loans for various reasons. Although, offers of big money are available in the market, but most of them require you to pledge collateral which takes, indeed, too long time to meet your requirements. There are property valuations and many more things attached to their processing while short term personal loans do not require any such actions to be done. Hence, they are preferred.

Short term personal loans generally come without requiring any collateral and thus mostly are unsecured loans. And, because they are advanced for short term and as there is no collateral attachment involved, short term personal loans require the borrower to pay slightly higher rates of interest. Yet, these rates remain only slightly higher because of their availability online which contributes a lot in their pace as well as in their cheap rates. In the online versions of short term personal loans, you will instantly get access into a large number of loan options available at cheap rates. Most of the lenders keep flocking the web which creates tight competition among them in the web market and thus make the rates cheap enough for the borrowers. Moreover, short term personal loans are matters of only a few mouse clicks there which make them genuinely congenial to the borrower.

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Monday, April 02, 2007

Nurse's aide charged with stealing credit cards from disabled patient

CONCORD, N.H. A 23-year-old nurse's aide has been charged with stealing credit cards from a disabled Northfield (New Hampshire) man he worked for and buying over a thousand dollars of merchandise.Police say Jeffrey Smith stole the credit cards from a 57-year-old partially paralyzed man he had worked for for a few weeks.Police say Smith racked up charges at gas stations around the Lakes Region, buying hundreds of dollars worth of gift cards. They say he also paid a utility bill and twice paid 69-dollar pizza bills with his client's cards.The cards were not quickly missed. One of the credit card companies called the victim in January about suspicious charges, but he was in the hospital and could not contact the police right away.___Information from: Concord Monitor, http://www.cmonitor.com

Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

CONCORD, N.H. A 23-year-old nurse's aide has been charged with stealing credit cards from a disabled Northfield (New Hampshire) man he worked for and buying over a thousand dollars of merchandise.Police say Jeffrey Smith stole the credit cards from a 57-year-old partially paralyzed man he had worked for for a few weeks.Police say Smith racked up charges at gas stations around the Lakes Region, buying hundreds of dollars worth of gift cards. They say he also paid a utility bill and twice paid 69-dollar pizza bills with his client's cards.The cards were not quickly missed. One of the credit card companies called the victim in January about suspicious charges, but he was in the hospital and could not contact the police right away.___Information from: Concord Monitor, http://www.cmonitor.com

Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.