Personal Loans Questions

Unlocked hundreds in cash
Jun, 26, 2012
High risk unsecured personal loans are loans that are high risk for the lender due to the fact that they are lent out to borrowers with bad credit and no collateral. Borrowers without assets and with bad credit may find these loans to be one of their best options if they are seeking to borrow money.
A handshake money trap
Jun, 25, 2012
Personal lending is just as vulnerable to crimes of fraud as any other industry. Personal loans fraud is any type of crime or misrepresentation that involves personal lending between a borrower and a lender. Remaining knowledgeable about what to look for is an important practice that can save time and money when facing off against lending fraud criminals.
Soon to divorce couple yelling.
Jun, 18, 2012
Divorce is stressful enough without having to worry about debt, but unfortunately debt is a problem that must be addressed by both parties. A divorce agreement may say who is responsible for certain personal loans, but it does not dictate whose credit is on the line in the event of a default.
Spouses disagreeing over debt
Jun, 13, 2012
Bankruptcy is a difficult process and can strain a marriage with arguments and stress over the affects it will have on credit history. Knowing whether to jointly file for bankruptcy with a spouse is great knowledge to have when contemplating filing for bankruptcy.
Red siren
Jun, 11, 2012
Thanks to online tools, a robust lending industry, and an increase in borrower education, applying for a personal loan has become very easy to do. Unfortunately, however, scam artists and unscrupulous lenders still remain a threat to borrowers. Awareness of the following warning signs when looking for personal loans can help borrowers avoid scam artists and bad loans.
Hard Money
May, 22, 2012
Hard money loans are a type of personal loan that are secured by a borrower’s real estate. This type of financing is usually originated only by private investors who specialize in issuing hard money loans, and are almost never available through traditional lenders. These property-backed agreements are issued to virtually anybody interested in them, so long as they have adequate equity in a property to secure money. As a result, bad credit borrowers often find hard money loans to be valuable sources of financing.
Magnifying glass looking at credit
May, 4, 2012
Mortgage, auto, student, and personal loans cost enough in interest payments alone, and borrowers are less than happy to add to those costs by purchasing additional services as their lenders request, such as credit reports. The government recognized this and passed the Fair Credit Reporting Act, which grants borrowers one free credit report each year. The annual credit report can be requested once every 12 months at no charge whatsoever, and the report will include borrowers’ credit scores from the big three credit reporting bureaus: Experian, Equifax, and TransUnion.
Green Percentage Sign
Apr, 27, 2012
Far too many explanations of the APR found online are convoluted, confusing, and will leave inquisitive personal loan borrowers feeling more dumbfounded after reading about APR than when they knew nothing about the term. APR, which is short for annual percentage rate, is the cost of borrowing money costs when expressed as a yearly rate. It’s really as simple as that. But what’s not simple is the calculation for determining APR.
Inmate in prison
Apr, 23, 2012
There’s a common misconception that personal loan debt is wiped away or “frozen” when a borrower goes to jail. Unfortunately for those serving time, that’s not the case. Most personal loans contain no provisions or protections for borrowers in the event they’re found guilty of a crime and sentenced to serve time in jail. Instead, lenders still expect payment from jailed borrowers. If those payments do not occur, then a lender will report the default to credit rating bureaus—which will result in a credit score ding for the borrower—and turn the debts over to  collections agencies.
Worried couple looking at debt
Apr, 12, 2012
As with so many other financing questions, this one too comes with the frustrating answer of, “It depends.” There are two factors to consider when determining whether or not bankruptcy of one spouse will have an effect on the other: whether or not the state the married couple lives in is a community-property state and whether or not both spouses agreed to responsibility for whatever types of personal loans the bankrupt spouse can’t repay.

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