Choose your own Bad Credit Loan
June 11, 2009 § 1 Comment
In this recession era, there’s no doubt that there are a lot of people who need bad credit loan. It is the only option for them. It is the only thing that can save them. To feed your curious mind, I want to inform you that bad credit loan is not a “bad loan” itself. It is the kind of loan for people who have the record of having bad credit.
Types of Bad Credit Loan
For you to be sure that you’ve chosen the right kind of bad credit loan, you must be familiar with the existing types of it. The list includes personal loan, signature loan or note, credit cards, and payday loans.
There are so many personal bad credit loan out there. What you need to do is be smart enough to choose. It’s always better to go for those who already have their good reputation in this business. It’s always safer to apply for a bad credit loan from them than from the untested ones. Also, you must keep in mind that you don’t need to pay any membership fee for a legitimate bad credit loan. Or let’s say they are really legitimate. Why apply there if you can go for those who don’t ask for any payment?
And yes, personal loan’s the cheapest among the four. The interest rates there are much lower in comparison with the others.
Signature loan also known as note loan is a short term one. More often than not, it lasts up to three months.
I bet you already know the facts about credit cards for it is the most type of loan nowadays. Even children know that from credit cards, you can get a loan.
Lastly, payday loans can lend you a maximum amount of $1,000. Usually, the interest here ranges from 8-15% so apprently this is really the most expensive among the four kinds of bad credit loan•Jenn Besonia
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