IN A FINANCIAL JAM? LET FAST SECURED LOANS HELP

2007-03-08 10:33:40

( Financial )



Desperately need cash, but payday is still a week away? Getting fast secured loans is your best option.

Like other secured loans, fast secured loans are put up against your home, car or valuables. However, it takes banks quite some time before approving traditional secured loans. Fast secured loans are approved in as little as 24 hours. What’s more, fast secured loan rates are comparatively lower than unsecured loan rates since they are given against your collateral.

Pawn shops are very popular venues to get fast secured loans. You bring in an item of value, like jewelry or appliances, in exchange for cash. The pawn shops loan you the amount they estimate your item to be worth. You will be given a certain time, usually 30 days, to pay off your loan. If you can't redeem your item in that time, the pawn shop is free to sell it.

Cash advance stores and check cashing services offer the simplest way to get fast secured loans. You fill out an application form and write a check for the amount you need plus their service charges. These stores provide you cash or a check to be deposited at your bank. You are usually given two weeks to pay off your loan. Make sure that you can pay it back by then. If not, the check you issued will bounce, and you'll have to pay service fees to both the cash advance store and your bank.

Title loans are another form of fast secured loans. In exchange for cash, the loan provider puts a lien on your car title. You'll probably get a greater loan amount from title loan providers, but you have to pay the loan back on time. Otherwise, the lender will repossess your vehicle, and losing your car can be a big hassle. Don't apply for title loans unless you have a pressing need for money and know that you can pay back your loan on time.

How to apply for fast secured loans

Choose a good lender who can give you the best secured loan. Aside from traditional lenders, there are online fast secured loan providers who offer ways to get a cheap secured loan. Compare various quotes from different lenders before you decide which one you'll go with.

Fill out your loan application form accurately to help you get fast secured loans in the least time possible. Lenders usually decide if you are suitable within 24 - 48 hours.

Check your financial capability. Make sure that you are able to pay back your loan on time. Remember, you face losing your items if you can't repay your loan.

Apply wisely and fast secured loans can really help in your time of need. Apply for fast secured loans only if your need is urgent and if you are sure you can pay your loan back on time. That way, you can get the most of what they have to offer.


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