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In finance, unsecured debt refers to any type of debt or general obligation that is not protected by a guarantor, or collateralized by a lien on specific assets of the borrower in the case of a bankruptcy or liquidation or failure to meet the terms for repayment. [1] Unsecured debts are sometimes called signature debt or personal loans. [2]
Just like payday loans, title loans should be a last resort because the average auto title loan has an APR of about 300 percent. How to shop for no-credit-check loans
However, guarantor loans are by no means a panacea for this situation - they themselves have high interest rates significantly above standard personal loans (albeit over shorter time periods) and pose a risk to the guarantor who may not be aware of the full extent of the commitment they are undertaking. Anyone being asked to act as a guarantor ...
And if you’re going for a specialized equipment loan like semi-truck financing, direct or online lenders may work with nearly any credit level. Compare pros and cons of no-credit-check business ...
A personal loan can help you consolidate your debts, cover an emergency or even pay for something fun like a wedding or vacation. But origination fees can eat into the final amount you receive ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 27 December 2024. Short-term unsecured loan A shop window in Falls Church, Virginia, advertising payday loans. A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a short-term unsecured loan, often characterized by high interest ...
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