Topic: Second Chance Personal Loan with No Collateral
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Answers to Common Questions
What Collateral Is Needed for a Personal Loan?
A personal loan that requires collateral is known as a secured loan. Collateral is personal property that has value that borrowers offer to lenders as a promise to pay the loan. Borrowers should make a list of their assets so they know what... Read More »
Source: http://www.ehow.com/about_5086931_collateral-needed-personal-loan...
How to Use a Boat As Collateral for a Personal Loan
Unless you have impeccable credit, most lending institutions require that you use some sort of collateral to secure your personal loan. Collateral items vary depending on the size of the loan. The most common type of assets people use to se... Read More »
Source: http://www.ehow.com/how_5721220_use-boat-collateral-personal-loan...
How to Use a Car Title as Collateral for a Personal Loan
Using a car title as collateral for a personal loan is always risky, but it's an alternative to selling the vehicle when emergency cash needs arise. There are two major types of car title loans. The first is open to anyone, regardless of cr... Read More »
Source: http://www.ehow.com/how_4795511_use-title-collateral-personal-loa...
More Common Questions
Answers to Other Common Questions
A second chance auto loan is extended to a low credit borrower who would not qualify under traditional standards. Most banks or major financing companies will not extend a car loan for a large sum to a bad credit borrower. As a result, bad ...
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Source: http://www.ehow.com/facts_6153503_second-chance-auto-loan_.html
Most lenders require collateral when you apply for a personal loan. Thus, if you default or stop payments on the loan, the lender can use your collateral as repayment. However, it's possible to obtain a personal loan without collateral or s...
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Source: http://www.ehow.com/how_5848708_large-personal-loan-having-collat...
A type of loan associated with subprime lending and borrowers with a tainted credit history. Second chance loans offer a borrower a chance to rebuild their credit history. Although subprime loans might have a typical term-to-maturity (30 ye...
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Source: http://www.answers.com/topic/second-chance-loan
Well, don't quote me on this but logic would lead one to beleive that technically the lender would have a lien against the car, so, in the event of non-payment they would sell your car and return to you all monies, if any, above and beyond ...
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Source: http://wiki.answers.com/Q/What_does_the_bank_do_when_it_uses_your...
Answer Honestly? Spend the money to have an attorney do it right. You will probably screw it up. I see it happen all the time. Look at the amount you are loaning. If you cannot spend 10-20% to hire someone who knows what they are doing, you...
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Source: http://wiki.answers.com/Q/How_do_you_word_a_contract_for_a_person...
I highly suggest seeing a lawyer. Under the usual terms of secured loans, you did not have the right to dispose of the goods, even damaged as there was a lien on them which needed to be cleared. Technically, you have committed a theft of go...
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Source: http://answers.yahoo.com/question/index?qid=20090814114755AAsoRCd
Accommodative Financial Solutions of...
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Source: http://www.chacha.com/question/who-gives-out-unsecured-personal-l...
