Personal Loans

 

A Personal Loan (also known as a Signature Loan) is an Unsecured Loan to an individual, usually made for the purpose of debt consolidation, vacation or the purchase of durable goods.

An Unsecured Loan is a loan where the borrower does not provide something of value to hold as security until the loan is repaid.  It the terms of the loan repayment are not met, then the lender will need to take legal action to recover what is owing.

Because the lender takes more risk with an unsecured Personal Loan, available loans may be smaller, shorter term or at higher interest rates than Secured Loans.  Remember - although Personal Loans are more risk for the lender, because they will need to take more action to recover their money and may not be able to recover all of it, this does not mean there is no risk to the borrower.  If you do not meet the terms of the loan, you risk still forfeiting assets or being declared bankrupt as a result of legal action.

Unsecured Loans may be available to you but will generally be much more expensive.

Able was I ere I saw Elba

Financial Information Services; Loans; Loan Calculator; Personal Credit Check
Secured Loans; Payday Loans; Graduate Loans; Bad Credit Loans; Debt Consolidation Loans

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