Payday loans are regarded by some as being controversial and this is mainly due to the high representative APR s that are offered by Payday Loan Lenders UK. However it may be viewed that the APR is not relevant as the repayment periods for payday loans are typically 31 days and not one year. Therefore … Read more
Unsecured loans are those loans which are issued by the lender on the credit rating and creditworthiness of the borrower. Here, the borrower is not obliged to pledge his assets as collateral security. He guarantees to repay the loan without any defaults in payment. The financial risk involved in granting unsecured loans is pretty high. … Read more
A loan which is granted to the borrower without using collateral is called a personal loan. Here the individuals promise to pay and his credit worthiness plays an important role rather than the pledged asset. It is the loan that is given for personal use and establishes consumer credit. It is generally unsecured in nature … Read more