Home - Mortgage Loans | Personal Loans | Bad Debt Loans | Foreclosure Loans
Apply for a Loan | Best Auto Loans | Best Bad Credit Auto Loans | Best Bad Credit Loans | Best Bill Consolidation Loans | Best Cash Advance Loans | Best Credit Cards | Best Credit Repair Tips | Best Debt Consolidation Loans | Best Free Credit Reporting Tips | Best Home Equity Loans | Best Mortgage Loans | Best Pay Day Loans | Best Personal Loans | Best Products on the Internet | Best Unsecured Loans
Great Financial Advice
Apply for a Loan
Latest Financial News
Rate Lock Advisory
Best Products
Join Our Mailing List
Contact Us
Loan Articles Index
Auto Loans
Bad Credit Auto Loans
Bad Credit Loans
Bill Consolidation Loans
Cash Advance Loans
Credit Cards
Credit Repair Tips
Debt Consolidation Loans
Debt Reduction Loans
Foreclosure Loans
Free Credit Reporting Tips
High Risk Loans
Home Equity Loans
Home Loans
Lawsuit Loans
Mortgage Loans
Pay Day Loans
Personal Loans
Products on the Internet
Real Estate Services
UK loans
Unsecured Loans
Loan Article Index
Loan Articles A-G
Loan Articles H-Q
Loan Articles R-Z
Mortgage Calculators
Mortgage Calculator
Mortgage Amortization Calculator
Rent vs. Buy Calculator
How Much Can I Afford Calculator
Auto Payment Calculator
Click here to Sign up for Email and Newsletter

 

redhotloantips fat loss


Secured Bad Credit Loans are Becoming the Norm

Written by: Gordon Goodfellow

Secured bad credit loans used to be viewed with some derision in times gone by. Today they are fast becoming the norm, and consumers should be glad. Here are seven excellent reasons why people should all celebrate it!

1. There is a lot of easy credit being offered these days and intelligent consumers are increasingly discovering that credit checks are being recorded on a daily basis. This should be taken as a positive thing as it leads away from old fashioned lending by the banks and opens up a more varied lending process for everybody which embraces a much wider market.

2. Banks are therefore not the only source. Banks prefer to have as much guarantee of security as they can, so they can afford to pick and choose the customers they lend money secured bad credit loans to. But using a 'one size fits all' attitude is definitely not good news for the majority of us, because we are all different. Knowing that banks may be this choosy means that people are able to go elsewhere. So in the long run the laws of the marketplace have provided us with a much wider number of sources when it comes to secured adverse or bad credit loans.

3. Secured loans are usually less expensive - sometimes far less expensive - than unsecured loans. This is because of the risk aspect. If a financial provider knows that the loan amount is tied into the borrower's property then it knows that the borrower has an extra responsibility to keep a roof over his or her head. Therefore the actual cost of borrowing through a secured loan will tend to be that bit less for this reason. Simply, the APR figure for secured credit loans will be lower. This can be seen clearly on any loan publicity material.

4. Longer repayment times. Hand in hand with the fact that the borrowed amount will be less expensive, the repayment period for secured borrowing can generally be set longer and thus the monthly payments will be somewhat lower for that reason (although economies of shorter borrowing times should also be factored in).

5. Personal service. While the secured loan will need more procedures and will generally take longer, people are likely to receive a more personal service than with an unsecured loan, where the application procedure is usually as anodyne and faceless as one simple application form. Most borrowers like to be treated like real people than just numbers or sales figures.

6. The number of secured loans available. As well as ordinary secured bad credit loans for any purpose, specific plans for varying types of loan have also grown up. Non-status loans, debt consolidation loans, and both personal and business advances are examples. Special plans will usually also exist if the house your loan is secured on is unusual. For example, brick and tile is the normal form of construction, but if your house is concrete based, or timber framed, or even has a thatched roof, special plans are there if you seek them out.

7. More personal circumstances are considered nowadays. Improvements in financial risk management assessment have meant that lenders are prepared to consider secured bad credit loans where such a thing was not possible in the past. The self-employed, in particular, are not treated as they used to be, especially with the recent trend toward self-certification. Three years of audited books are no longer automatically required from those people who work for themselves. Defaulters, people with CCJs, IVAs and even discharged bankrupts are now regularly considered in today's evolving world of finance. Increasingly, people take larger financial risks, especially the entrepreneurial minded. The market is evolving to take account of bad credit loans, because it must.

About the author:

Gordon Goodfellow is an Internet marketer, and market and social researcher. His websites dealing with secured bad credit loans take into account all possibilities that a potential borrower might present. For what this could do for you go to Secured Bad Credit Loans .


Other Related Articles:

Car Loans After Bankruptcy - Tips To Getting Approved
A car loans after a bankruptcy is one way to help build back your credit history. In fact, once your bankruptcy closes, you can apply for a car loan the next day. To get approved with the best rates for your car loan, follow these tips. Review Your...read more

Low Interest Rate Car Loan - Put Your Good Credit To Work
If you are in the market for a new vehicle, you will want to find a low interest rate car loan. One of the first things to do before starting your search for a new car is to obtain a copy of your credit report. You will want to make sure you have...read more

Home Equity loans; don't put your Home or Condo at risk!!
Debt Consolidation may be a better alternative Have you seen those bank and mortgage ads on TV and newspapers telling you to pay off those pesky high interest credit card bills by tapping into the equity of your home? They make it sound real...read more


Return to Home

468x60

Best Auto Loans, Best Bad Credit Auto Loans, Best Bad Credit Loans, Best Bill Consolidation Loans, Best Cash Advance Loans, Best Credit Cards, Best Credit Repair Tips, Best Debt Consolidation Loans, Best Debt Reduction Loans, Best Foreclosure Loans, Best Free Credit Reporting Tips, Best High Risk Loans, Best Home Equity Loans, Best Home Loans, Best Lawsuit Loans, Best Mortgage Loans, Best Pay Day Loans, Best Personal Loans, Best Products on the Internet, Best Real Estate Services, Best UK loans, Best Unsecured Loans
Subscribe to Mailing List | Private Policy | Unsubscribe | Site Map