Difference Between Unsecured And Secured Loans

What is the difference between unsecured loans and secured loans? Which is safer between the two? I needed to make a research for my husband is planning to get a personal loan. I was hesitant at first but he explained that it is alright to get loans as long as we know how to handle our obligations. He said that even rich people like businessmen get business loans. Besides, we really need it for it is hard to make ends meet because of this world wide economic problem. 

We both made the research and found out that unsecured loan is a safer way to borrow the money for it requires no collateral while a secured loan is a collateralized loan whereas property is pledged as collateral. Also, unsecured personal loan is convenient because it has little documentation and upon approval of the loan, the fund can be available within two business days. All we need are responsible credit history and a high credit rating. Because of this, we decided to go for the unsecured loan. I will keep my fingers crossed and pray for my husband’s loan to be granted.

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Comments

  1. ah gnun pala yun… hehe… di po kc ako masyadong familiar sa mga ganyang bagay eh… hehe nwei, tnx sa dagdag na info.. 😉

  2. uso sa amin rito yang unsecured loans sa mga COOP– atsaka yung sa money lenders na 5-6 hehe… pero marami sa coop kasi yun nga and 2% lang tubo diminishing pa

  3. hi rossel ok ang mga review mo, maganda basahin kahit paid post…hmmmm, buti ka pa, ok na ba income? joke lang….

  4. Your husband is right. Even businessmen apply for a loan. It is just sound business strategy. I also hope that yours will be approved.

  5. In the States, no matter what condition of credit you have, you can get approved of loans…

  6. dito sa Japan,madali lang para sa kanila makakuha ng loans–direct ang bawas sa sweldo nila through bank.

  7. Thanks for the info! ganun pala yun. wala kasi ako alam sa loan loan na yan e. heheh! Anyways, may tag nga pla ako sayo. I hope u can participate before june 12

    http://blogniako.blogspot.com/2009/06/operation-111.html

    Thanks

  8. goodluck tita..

    sana ma approve nga yan

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