Already on ArticleSlash?

Forgot your password? Sign Up

Unsecured Loans Short Term Money With No Risks Involved

 


Visitors: 162

Even if you have no property worth pledging it for collateral or you fear its repossession by the lenders, a small amount is accessible as unsecured loans once the applicant has met some conditions. But out of plenty such offers on internet and elsewhere, you must ensure certain steps to find out a suitable deal and to avoid falling into a debt-trap.

Both tenants and homeowners can borrow anywhere from £1000 to £25000 under these loans, without the lenders asking for collateral. One can say that there are little risks for the borrowers. However, any late payment of default will be registered in your credit report, resulting in lowering of your credit rating.

The loan amount can be used for home improvements, wedding, purchasing a car, holiday tour, paying off old debts and other bills etc.

To find approval of unsecured loans without collateral, it is essential that you win the lender's faith by proving that you can repay the loan installments in timely manner. Hence, take documents of your income, bank statements, employment record, residential proof etc to the lender. If you have a bad credit history of late payments, arrears, defaults or CCJs, then make extra efforts to win the lender's confidence and borrow an amount that is well within your existing repayment capability. Also, you must be prepared to fork out interest at higher rate.

These loans are to be returned in short duration of six months to 15 years, as is the borrowed amount. Interest rate is kept a little higher because of the risks for the lenders. Still, comparatively lower rate can be ensured for people with excellent or good credit history.

Online mode of lending the unsecured loans is associated with competitive rates and fewer additional charges, making the repayment less burdensome. Take out the rate quotes for comparing the lenders. Repay the loan in timely manner.

Mary Jones is an expert financial advisor in Loans For Everyone. She has done Masters in Finance from London Business School. To find unsecured loans , personal loans, secured loans, personal loans for bad credit, bad credit loans. visit http://www.loansforeveryone.org/

(366)

Article Source:


 
Rate this Article: 
 
Unsecured Loans - The Ideal Short-Term Loan
Rated 4 / 5
based on 5 votes
ArticleSlash

Related Articles:

Unsecured Personal Loans - Short Term Funds With Minimum Risks

by: Turk Malloy (February 08, 2008) 
(Finance/Loans)

Short Term Unsecured Loans - Secure Money Without Any Security

by: Andrea Fletcher (May 23, 2008) 
(Finance/Unsecured Loans)

Short Term Unsecured Loans Sailing You Out of Short Term Financial Crisis

by: Shain Johnson (November 10, 2008) 
(Finance/Loans)

Cheap Unsecured Loans - Low Rates And No Risks Involved

by: Roberta Langdon (January 09, 2008) 
(Finance/Loans)

Tenant Loans Repay in Short Term Without Risks

by: Peter Darwin (June 30, 2008) 
(Finance/Loans)

Short Term Personal Loans - Easy Money Available For Short Term

by: Ashley P Lewis (December 05, 2007) 
(Finance/Loans)

Unsecured Cash Loans UK - Collateral Free Loans to Deal With Short Term Needs

by: George Linken (July 06, 2008) 
(Finance/Unsecured Loans)

Short Term Unsecured Loans - Trouble Free Loans

by: Andrea Fletcher (August 10, 2008) 
(Finance/Unsecured Loans)

Unsecured Loans Accomplish Short term Needs

by: Simon Taufel (July 10, 2008) 
(Finance/Unsecured Loans)

Unsecured Loans - The Ideal Short-Term Loan

by: Erika Anaya (March 20, 2007) 
(Finance)