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Not everyone is capable of providing security for their loans. Some people may already be using their homes or vehicles for existing loans, some may not have anything of adequate value, and others mi…...
While your credit score and spending habits won't make as much of an impact in a secured loan application, you will have to go through some kind of appraisal process for the asset you're pl…...
Variety in your credit mix – that is, the diversity of your debt and payment history – can make a positive impact on your credit rating. Remember there are different types of loans. If you have a cre…...
As mentioned before, an unsecured loan will probably have a higher interest rate than secured loans of the same or similar value. This is because lenders want to minimise risk, and without a security…...
Again, this is about lenders wanting to minimise risks. Your creditworthiness is determined by your past financial behaviour and your ability to pay back debts on time. Fail to pay on time, or worse,…...
Most unsecured loan agreements stipulate that in the event a borrower fails to pay their loan, lenders can take borrowers to court. If a judgment is made against you, you could face even more financi…...
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