A personal loan is generally made for smaller amounts and is most often
offered on an unsecured basis.
This means the borrower is not required to
present collateral / security in order to obtain financing. The approval of unsecured loans is typically based upon the
borrower's credit history and ability to make payments, as determined by such
factors as job stability and debt to income ratio (monthly payments as a
percentage of gross income). Because of this, they are also often referred to as
signature loans, because all you have to do is sign the documents. This may
sound great, but because of their increased risk to the lender, they are most
often financed at higher interest rates. In some cases, these loans are secured
to assets, such as a vehicle, but this form of financing is not
nearly as common as it once was.
If you are looking at this type of lending as a way to consolidate debt, please be sure to examine all of your
options. Other sections on the
Debt Consolidation Loan Directory list
of companies and services that you may want to review and compare:
- Non-Profit Credit Counseling Services - Review web site listings for non-profit credit counseling companies from the Open Directory Project (ODP - http://www.dmoz.org).
- Debt Consolidation - Are your bills piling up? Lower your monthly payments and consolidate them with a debt consolidation loan or a related service.
- Debt Management Company Listings - Too many credit cards and other bills to make monthly payments on? Start here by reviewing and comparing different debt management options for getting help with your credit card bills and other monthly obligations.
- Debt Consolidation Companies - Company listings from the Open Directory Project that offer credit card consolidations, debt counseling services and consolidation loans to consumers, students and businesses.
Advertiser Directory Listings:
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Find a Personal Loan at Credit.comHome financing, emergency loans, auto loans, Credit.com is different than other online financial sites. Since 1995, it has been their mission to help customers learn about credit and find the right service for their situation. Visit them for free credit tips from their team of experts, access to toll-free customer service and over 200 of the best financial services online. Applying for a loan, credit card or debt assistance program though Credit.com is easy. Our secure online forms match your application details with the best provider. Borrow up to $15,000 with an online personal loan.* Get a free, no-obligation debt help quote. Compare credit card rates & terms. We’re your online marketplace for financial products! * Personal loans greater than $10,000 up to $15,000 may require home ownership and a good credit rating. |
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Main Office Location: 550 15th Street, San Francisco, California 94114. |
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Get Online Debt Consolidation!CareOneSM Services - A service you can trust! There’s a reason over 4.5 million people have
turned to CareOne service providers for help with their debt. CareOne service
providers have years of experience providing sound and legitimate solutions to
people looking to conquer their debt once and for all. Because people’s
situations are unique, they offer a variety of programs that allow consumers to
pay off their debt in a reasonable amount of time. Services not available in the state of: Indiana. |
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Main Office Location: 8930 Stanford Boulevard Columbia, MD 21045 |
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Unsecured Debt Consolidation
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Main Office Location: 2401 Colorado Ave., Suite 200, Santa Monica, California 90404 |
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Additional Information:
Unsecured lending takes a couple of main forms, based upon the borrower's
needs: traditional personal loan financing and credit cards. While traditional
personal loans have been around much longer, they have been largely replaced by the
credit card,
which lenders find far easier to sell, package and market to the public (thereby
making them much
more lucrative... and dangerous for irresponsible users). You can now find a
credit card for almost any need: retail / store, gas, pre-paid, secured, and
incentive cards (examples: frequent flyer miles and cash back programs).
Personal or signature loan financing is not as prevalent as it once was due to
the fact that it has a sales cost to the financial institution or lender and is more difficult to package using computerized underwriting programs.
However, this directory does feature several advertisers that offer this type of
financing, or you can apply for one at a bank (visit the
bank directory
for listings of local banks). A few key things to note: 1) These loans are generally
paid out in a single lump sum; 2) They usually have a fixed monthly payment and
term, unlike a credit card; 3) And finally, as mentioned, they are charged at a higher rate
of interest than the common forms of secured loans, such as mortgages and
home equity loans.
TIP / WARNING:
Using a personal loan company for debt consolidation will do absolutely no good
if you think the resulting lower payments will give you the right to go out and
run back up your debts by shopping. If you do, you will only become worse off
than you are now. Here is a better idea: Open a savings account and put a
portion of your check into it each payday. Many banks also offer auto-withdrawal
services and are perfectly willing to do this for you. If you cannot force
yourself into a schedule of saving on a regular basis, let them help you. Then,
when an emergency arises, or that "gotta have it" purchase comes along,
stow the charge
card. Use your savings!



