I have written several posts on payday loans but today I want to talk about personal loans, also known to some as signature loans. A personal loan is not a short term, 2 weeks or less, loan like a payday loan. It is a conventional term loan. Usually the amounts are small, $10,000 or less, and the requirements are less than for a traditional loan. A personal loan can be used for any purpose and are not usually tied to collateral.
There are quite a few types of loans available including Bad Credit Personal Loans available for people with damaged or dinged credit. I feel that in quite a few cases a personal loan is better solution that a payday loan. The fees are much lower, the term is longer, interest is WAY lower and is usually simple interest. Overall a personal loan, in certain circumstances, is not a bad idea.
Because You Need To Know What I Think