Unsecured bad credit personal loan with no credit check, high risk credit card applications, free debt settlement tips, credit counseling, debt consolidation loan and negotiation company assistance

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 »  Articles  »  News  »  Types of Secured and Unsecured Personal Loan Applications
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Types of Secured and Unsecured Personal Loan Applications
By Credit Federal | Published 01/7/2012
  • Secured Auto Loan - There are multiply types of auto loans, including: financing for a brand new car, a second hand used car, refinancing an existing auto loan, or getting a loan on a car that is fully paid off.
  • Secured Home Loan - This includes a new home purchase, refinancing an existing loan, or getting cash equity from a home that is 100% paid off.
  • Secured Personal Loan - This type of loan typically uses property such as an auto or a home in order to secure the loan. Although the loan requires collateral, there are benefits such as lower interest and the largest personal loan amounts possible with very long term monthly installment payments.
  • Unsecured Personal Loan - The benefit of this type of loan is that some are offered with absolutely no credit check, require no collateral and offer instant guaranteed approval for bad credit people. The cons; however, is that these high risk loans usually have limited amounts and are short term. Some lenders offer a pseudo long term of up to 2 years.
  • Unsecured Line of Credit (Equity or Credit Card) - The most popular of these unsecured personal loans are in the form of unsecured credit cards which have a line of credit. Or, you can get a personal line of credit through your mortgage.

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