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Debt consolidation on secured and unsecured loans with bad credit?

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Wiki User
2009-02-18 09:27:20
2009-02-18 09:27:20

{| |- | Debt consolidation is when you consolidate multiple lines into one new loan or debt consolidation program - it typically involves a debt consolidation loan. It is important that you know what your options are and what your goals are before choosing a debt consolidation program or company. I took help of Freedom Debt Relief to consolidate my loans.

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Express Finance, located in the United Kingdoms, offers several types of loans. Tenant loans, consolidation loans, bad credit loans, secured loans, small loans, unsecured loans, and even payday loans.

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A person can find unsecured debt consolidation loans online. Some websites that offer unsecured debt consolidation loans include LendingTree and Prosper.

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basically in which no security is used are unsecured loans and where secuity are used are secured loans

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Secured loans are by far a lot better than unsecured loans, but if you must choose that route then that's your choice. The site I have provided below should give you more information on unsecured loans. http://www.eloan.com/s/show/personalloans?user=bu=mortgage

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Secured and unsecured are the two main types of loans. Secured loans require the borrower to give some form of security to the lender, like a home or car. Unsecured loans do not require any kind of collateral.

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Secured, and unsecured. Both will affect your credit score if you fail on both of them. Secured is a secured collateral to pay to your borrowed sum (like a house). Unsecured is a credit check with a higher interest rate, due in part to the lack of collateral.

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Interest rates are typically higher on unsecured loans rather than on secured loans. This is because there is no collateral backing the loan.

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Because secured loans are loans that are secured on your property, they are looked at totally differently when applying for a mortgage, in most cases the mortgage lender will probably want you to repay the secured loan before approving your mortgage

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Guaranteed unsecured loans are loans which are given to people regardless of their credit rating. The term unsecured loan means that it is not based upon a line of credit or assets of the recipient.

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A secured loan is where there is a physical item that can be claimed if the loan is not paid - a house, a car, jewelry, etc. An unsecured loan is where there is nothing for a bank to take to get its money back if you default, such as education loans, credit cards and similar loans.

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There are a few places one can look for information on consolidation loans for those with a bad credit rating. One can find information from the websites 'Bad Credit Consolidation Loans' and 'Debt Consolidation Loans'.

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One can compare unsecured bad credit loans online by looking for the website Personal Loans For Bad Credit. There are other sites out there, but this site can do the comparisons of bad credit loans.

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Companies that offer unsecured loans with no credit check include: Credit Loan Sources, PRL, Chesterman House Loans, PayDay Advance, One Up Loans and Easy Loans.

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A debt consolidation loan is an excellent way to restructure your debt so that it becomes less of a burden. Debt consolidation loans are used to pay off all your other debt so that you only owe the debt to a single source. The new loan generally has lower monthly payments and often a lower interest rate, making it easier to pay off. Debt consolidations loans can be unsecured or secured. An unsecured loan has no collateral to back it up, which means that it typically has higher interest rates than a secured loan. The advantage is that you don't have to risk losing an important asset.

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Auto Loans can both be unsecured and secured.In secured auto loan the car that you purchase is a collateral for that loan; thus, it is backed by an asset (your car). If at any point you cannot make the loan payment, they have the right to take your vehicle back. This type of loan carry a lower interest rate. Whereas, unsecured auto loans will have a higher interest rate and you need to have a very good credit history to be qualified for unsecured car loans.

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Tesco bank offers personal loans which are secured or unsecured, they offer car loans, and mortgages too. The interest rates and apporval of a loan is based on your credit.

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An unsecured loan is a loan that is not backed by collateral. Also known as a signature loan or personal loan. Unsecured loans are based solely upon the borrower's credit rating.

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Getting debt consolidation loans with bad credit is possible, but extremely difficult. One would have to find multiple offerings for debt consolidation loans and see which of them offer them to people with bad credit.

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The websites Fox Loans and Insta Loans both offer unsecured loans for those who may have poor credit. They also offer the convenience of applying online.

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With a secured loan, you back up your loan with some sort of financial guarantee like some assets. With an unsecured loan you only have your credit to back up the loan.

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There are many websites and a host of resources that offer information on debt consolidation secured loans. Some of these websites are Bank of America, Lending Tree and Yahoo! Voices.

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Tenant loans are unsecured loan for people with bad credit or no credit. There are different kinds of tenant loans, private tenant loans, bad credit tenant loans.

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Debt consolidation loans are an excellent idea for people who want to get their debt under control. You could just waste away under the pressure of multiple credit cards or personal loans, or you could allow debt consolidation loans unsecured to help you get out from under the pile. These are nice loans because they provide you with instant relief. You no longer have to pay for a bunch of late fees and you can even save money on monthly payments. The lower rates and lower payments will help you over the long run and in the short-term, so give it a try.


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