How To Get A Secured Loan When You Have Bad Credit
A bad credit secured loan is a loan which allows people who have a not so great credit history to be able to get a loan. The bad credit secured loan works because the lender has the benefit of security because they will be able to get reimbursed even if the borrower ends up not being able to pay.
Bad credit secured loans are the best solution for people with bad credit and who do have some form of collateral to pledge against the loan, such as an automobile or a house. With collateral, lenders will typically offer an interest rate on a secured bad credit loan that will be less than that of the interest rate on a non-secured bad credit personal loan. So the bad credit secured loan will save you money.
To get a bad credit secured loan, contact a local bank or credit union and speak to one of their loan officers about your situation. This will cost you nothing. Don't be afraid that loan officers don't want this type of loan or that they will not have time for you. Alternatively, go online and deal with one of the reputable online lenders. Either of these sources will work with you to figure out the best type of loan for you and will disclose what the costs of such a loan will be. Shop carefully and compare rates. While most of the well known lenders have narrow differences in the cost of their capital going in to their lending portfolios, the widely varying rate structures and fees involved will end showing a wide disparity in the net outcome. Do your due diligence and don't be afraid that your bad credit history will be used as a weapon against you. There is a lot of help out there for those who ask. The lenders want your business. It is in their best interest to make you an offer for your bad credit secured loan that is both fair and competitive.
Related Tags: bad credit, bad credit history, bad credit secured loan
Jim Ferris is a seasoned advisor to those with poor to bad credit. When you face difficulty with financing and are looking for lenders who you can go to without fear for mortgages, consolidation loans and other high risk vehicles you'll find the answers you need given by Jim and his colleagues at http://www.badcreditovercome.com
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- Personal Finance & The Needed Momentum
Possession of personal cash flow plan and the dream of having financial freedom might make it harder - Need An Ebt Card Or Food Stamps?
Applying for food stamps can be a very overwhelming and embarrassing task. Knowing what to expect th - Quick Money Loans What You Should Know
If you are looking for a quick money loan there are a few sources available, and just like any other - Same Day Cash Loans - Quick Help When Fiscal Requirements Force You
Life of human being is completely dependent on cash that establishes the life of one comfortable or - Unemployed Loans - Don't Accept Debacle Against Fiscal Requirements
In today's time, what imperative complication is increasing at the rapid pace for people? It is the - Get A Secured Credit Card To Rebuild Your Credit
The recession has spoiled the financial plans of many. Some have maxed their credit cards out, other - Ways To Create Profitable Cfd Trading Strategies
Understanding the connection between 2 significant ratios is the key to having winning CFD trading s - Can I Save Money At An Outlet Store?
Everyone loves to know they are getting a good deal when they are shopping for something. It could b - Used Car Donation Program Worth The Cause?
Used car donation program may not be the best option for many. Before you call me selfish and Paroch - Who Controls A Business's Asset When It Files For Bankruptcy?
Individuals who wake up and find themselves knee deep in debt, with no recourse to repay the debt, h
Most viewed articles in this category:
- Proposed Changes to Bankruptcy Law in Scotland
A bill has been proposed in Holyrood, the Scottish Parliament, which would align Scotland’s ba - How To Create Your Own Emergency Fund
Do unexpected car repairs, quarterly insurance payments or unexpected medical bills find you hard pr - How To Make A Personal Budget
There are many types of budgets that people use in their daily life. For instance, there are budget - Easy Cash Loans To Meet Immediate Cash Need In The Most Convenient Way
A financial crunch can happen to anyone at anytime in life. A few years back, I was stuck in the sam - Credit Counselors Offer Advice to Avoid Debt This Christmas
The holiday season is a great time of year for most of us, but it's also a time of year when we want - Save More/Spend Less - Become a Saver not a Spender
Our personality and lifestyles affects our ability to save. Most every action we take (including tho - Saving Money In College
Have you ever found yourself eating Cheerios for dinner while sitting in your dorm thinking about ho - Seek Unsecured Loans And Avoid The Threat Of Repossession
It is quite natural that people don't want to have the threat of repossession of their property whil - Investing - Tax Shelters Equals Big Fine For KPMG
What happens when a world renowned accounting firm decides to market tax shelters to its elite clien - Teaching Kids to Save--It's More Than Just Numbers
Did you know?<b>• The fastest growing group of bankruptcy filers is those 25 and you