Do I Qualify For A Short-Term Unsecured Loan?

We have all found ourselves in a financial bind at least once in our lives, if not more. There are many things that can occur on a daily basis that can impact your financial situation and leave you needing money. The loss of a job, a car accident or any other type of unexpected emergency or expense can leave you in a situation where you need extra money, or a loan, to get back on track. There are many different options for consumers when it comes to getting loans. There are short term loans, long term loans, secured loans, and unsecured loans. First, let’s review the different types of loans available and then we will look at what option is best for your situation. Short term loans are loans that are usually repaid anywhere from two to eighteen months and long term loans are loans such as a mortgage or car loan which are paid back anywhere from two to thirty years. Secured loans will require collateral and you will usually see these types of loans with mortgages and car loans and they use the home or automobile as the collateral. Unsecured loans, or personal loans, do not require collateral and are based on your credit and your ability to repay the loan.

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5 Ways To Make A Passive Income

Do you want to make an income even when you’re on vacation or asleep? We list 5 ways to do so.

Every person wants a second source of income as an emergency back-up. It’s not that tough to generate it – consider 5 ways to do so:

Earn interest on your savings.

The simplest way to earn money is to let your savings in the bank account accumulate and earn interest every quarter. The best savings bank accounts pay as much as 7% quarterly interest on your residual funds. The more money you save in your bank account, the more you earn by interest. Check with your bank about using your savings account to the fullest to earn more, and to also link it with your expense account or investments for easier money transfers.

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