Unsecured Personal Loans
Taking in mind that there is no possibility of obtaining a "free" federal grant for personal use, what are some viable alternatives? Maybe you need to consolidate your debts, make repairs your home, finance a new business idea, or simply get by until the next paycheck. One such alternative available to the general public is an unsecured personal loan.
What is an Unsecured Personal Loan?
An unsecured personal loan is a way to borrow money without putting up collateral such as a home, car, or investments. Instead of offering collateral in the case that you default, this type of loan is supported only by your creditworthiness. If you have bad credit, this type of loan will be tougher to get and will be offered at a higher interest rate.
Top 10 Ways to Use Unsecured Personal Loan Money
- Pay bills that are due, such as rent, utilities, and health care.
- Consolidate your debt by paying it off with a lower interest rate loan.
- Repair or remodel your house or apartment.
- Pay for everyday expenses such as food and clothing.
- Finance a profitable small business venture.
- Buy the equipment needed to expand an existing business.
- Save money in the long run with energy-efficent upgrades to your home.
- Get the funds needed for a new car, boat, motorcycle, or RV.
- Afford to pay for your dream wedding or other event.
- Splurge on that vacation, new TV, or other pricey purchase.
Government Knowledge on Personal Loans
- Government information on managing your finances at U.S. Government's Official Web Portal.
- "If I take out a payday loan, could it hurt my credit?" at the Consumer Finance Protection Bureau.
- Payday loan audio tips from the Federal Trade Commission (FTC).
- Borrowing actions you can take, plus tips and hints at MyMoney.gov.
- Consumer information about credit insurance by the Federal Trade Commission (FTC).
- Use caution when shopping for debt relief services from the Federal Trade Commission (FTC).
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