If you are seeking a bad credit personal loan there are a few things to consider. Since you are looking for a loan and you do have poor credit you should make sure that your loan will be reported to major credit bureaus. It is important to check that your loan reports to credit bureaus because this is your chance to improve your credit rating. I mention checking that your loan will be reported because many people will obtain something like a prepaid credit card thinking that this will help build their credit rating when this is actually not a loan, it is actually a debit card that carries a credit card logo.

You may see ads promising -

- Self-Liquidating "LOANS!" - Investment Capital Overnight! - Your "LOAN" has been Approved! - BORROW Money And Never Pay Back! - etc.

A self-liquidating "LOAN" is fiction. You will never get a loan that you will never have to pay back from anybody. You need to be very careful when you are presented with opportunity to get "money for nothing!"

A true, self liquidating "LOAN", standing on it's own, is a pipe dream - it's perpetual motion. A loan that pays itself off is of NO benefit to lender - so, Why Would They Do It? The answer is simple - they WON'T!

Con men typically ask for up-front fees to get people a Self-Liquidating Loan. "Your "Loan" Has Been Approved" is their typical ploy. Since there is NO such thing as a Self-Liquidating "Loan" this should be a tip off that all they want is your money and you will never see such a "LOAN"! Remember money MUST come first, and if they can't prove to you how money will come first to create such a transaction, you will lose any money you pay to these con men.

Also beware of con men that do not charge front fees but want to see if you qualify for such a "LOAN", then notifies you later that you have been approved for a "Loan" and want you to pay points, closing costs, advance interest fees, etc.

But there is a way to use this CONCEPT!

In a Self-Liquidating Loan CONCEPT there are no such expenses! The money comes first, then transaction is created using a Roll Account (Compensating Balance)!

A Self-Liquidating loan actually does NOT exist. I know you see several ads in many publications advertising such a loan. There has been a mystique about these loans. Many people believe that to get a so-called Self Liquidating, Loan one only needs to apply and like magic, there it is! A multi-million dollar loan with money pouring out of envelope! Not so - but Self-Liquidating Loan concept is done every day and you can learn how!

There is ONE way for a TYPE of self-liquidating loan to exist. Remember, I said *type* of self-liquidating loan.