What is difference between the unsecured bad credit personal loans and personal loans?


0 votes
Anybody know this please tell me as soon as possible.
asked Dec 4, 2012 in Economics Questions by msi23 NoviceUser (1,600 points)
Share with your friends you like

1 Answer

0 votes
Unsecured debt is known as debt against which none of the collateral has been kept or it can be said as general borrowing also. Any sort of debt received by just singing a paper also considered as unsecured debt. Unsecured debt is generally given by the retail merchants or lender upon which they usually charges higher interest rate than secured personal loan. This type of loan is opted by most of bad credit history people that is why, unsecured bad credit personal loans carries higher rate of interest as they do not hold any collateral against its capital lend. Whereas, secured personal loans are given by financial institutions mostly against any collateral.
For more information visit http://www.prnewswire.com/news-releases/bad-credit-personal-loans-network-of-new-lenders-launched-by-loansnet-179655931.html
answered Dec 5, 2012 by paul007 NoviceUser (1,100 points)

Related questions

0 votes
1 answer
0 votes
1 answer
0 votes
1 answer
asked Nov 29, 2012 in Economics Questions by veshnavi Moderator (1,837,000 points)
+1 vote
1 answer
0 votes
1 answer

General Knowledge Questions and Answers Forum: Welcome to onlineGKguide - Q&A forum. Ask any general knowledge question and receive answer from experts and other members. Quick Links for Q&A Sections are below:
Share with your friends you like
5,947 questions
7,482 answers
196 comments
7,452 users