If you need money, and do not have any collateral, such as a home, you may want to consider a personal loan.
Do you need collateral for a personal loan?
Many lenders do not require any collateral for a personal loan, which can be convenient for those just starting out, getting divorced or who do not wish to pledge collateral for any reason.
What is the Interest rate on a personal loan?
The interest rate on a personal loan is typically comparable to the interest rate a lending institution would charge on credit cards to its customers.
Is a personal loan like a credit card?
A personal loan works like a credit card in that it is a revolving line of credit -- when you pay down part of the personal loan balance,
you can borrow that money again. A lender may issue the borrower checks to use for borrowing money, and some may even offer debit cards for their customers to use to access funds.
Where can I get a personal loan?
Many banks and credit unions offer personal loans. Your ability to qualify for a personal loan will depend on your credit and the underwriting
standards of the lending institution. If you do not qualify at your local bank or credit union, you can always apply for a personal loan at a finance company--many have local offices across the country.
Credit.com offers a service that can help you get a personal loan.
Click Personal Loans
