05-01-2008
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Join Date: May 2008
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Rep Power: 0 | |  Re: Personal Loans
Lenders determine fees either as a percentage of the entire loan amount, or as a fee per certain amount (such as $30 for every $100 borrowed). In addition, the interest rates for late payments are sky-high. Lenders provide bad credit secured personal loans at low interest rates and for a longer repayment period. Unlike bad credit secured
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, bad credit unsecured personal loans do not require collateral and therefore lenders charge high interest rates against the loan amount. Lenders doing larger loans and mortgages will benefit from the arm's-length nature of all of these third-party services. But in the case of very small unsecured loans between family members - such as Deininger's loan to her brother - the sites aren't always necessary. | |
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Last edited by BobHall; 05-01-2008 at 12:36 PM.
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