Fast Money: A Guide to Fast Secured LoansWritten by John Mussi
Here is a useful guide to fast secured loans. Sometimes it seems as though there's nothing you can do… you need money and you need it now, but you don't get paid for another week or more. You need to find a fast secured loan, but banks can sometimes take weeks to process your application and there's still no guarantee that you'll get money that you need. Luckily, there are other options available for fast secured loans.
Cash Advance and Cheque Cashing Cash advance stores and cheque cashing services are one of simplest forms of fast secured loans. You go in and fill out some paperwork, write them a cheque for amount of your loan plus their service charges, and walk out with either cash or a cheque that you can take to bank. You usually have two weeks to pay off loan, and may or may not be able to make partial payments. If you haven't paid your debt within appropriate timeframe, then they'll submit your cheque to bank for payment… and if you don't have money, cheque will bounce and you'll be looking at service fees from both cash advance store and your bank.
Title Loans A title loan is another form of fast secured loan, working much like cash advance store but with loan provider putting a lien against your car title (meaning that they have loaned you money, and therefore are considered to be legal owners of vehicle) instead of you writing a cheque. Title loans usually allow for greater amounts to be loaned, and in almost all cases you get to keep your car… down side is that if you don't pay loan back in time, then lender is able to repossess vehicle. If you don't pay them back after they've repossessed (as well as pay for repossession fees), then they're free to sell car in order to get their money. Title loans usually aren't recommended unless you have a dire need for money, and know that you'll be able to pay back loan before payments get out of hand or behind.
A Guide to the Bad Credit Personal LoanWritten by John Mussi
Here is a useful guide to bad credit personal loan. If you find yourself in need of extra money but without good credit needed for an unsecured loan, you may want to consider getting a bad credit secured loan. These loans require you to place some item or property in lender's trust as collateral for loan, and should you not repay loan then they are free to sell item that you granted them as collateral. Some lenders require that you turn over collateral to them in order to get your bad credit secured loan, but many will allow you to keep collateral.
What are common collateral items? Common items that are used as collateral for a bad credit secured loan include items like automobiles and real estate, though precious jewelry or other items are also used from time to time. When using an automobile or piece of real estate, person seeking bad credit secured loan is often able to keep their car or house; they simply turn over deed or title to finance company or other lender who is then granted a legal claim to it until loan has been repaid.
Where can you find a bad credit secured loan? While not all banks and lenders are willing to offer a bad credit secured loan, many finance companies will take risk. You may wish to shop around at various finance companies and lenders, finding out which ones offer bad credit secured loans and what interest rates they charge (though interest rates will likely be higher than they would be for a loan through a bank.) You might also wish to check out bad credit secured loan providers on internet, checking out lenders a bit more since you don't want to get caught up in an internet scam. Once you've compared interest rates at several establishments, pick one that offers best terms and see them about getting your bad credit secured loan.