Loans Information


Fast Money: A Guide to Fast Secured Loans


Here is a useful guide to fast secured loans. Here is a useful guide to fast secured loans. Sometimes it seems as though there's nothing you can do? you need money and you need it now, but you don't get paid for another week or more. You need to find a fast secured loan, but banks can sometimes take weeks to process your application and there's still no guarantee that you'll get the money that you need. Luckily, there are other options available for fast secured loans.

Cash Advance and Cheque Cashing
Cash advance stores and cheque cashing services are one of the simplest forms of fast secured loans. You go in and fill out some paperwork, write them a cheque for the amount of your loan plus their service charges, and walk out with either cash or a cheque that you can take to the bank. You usually have two weeks to pay off the loan, and may or may not be able to make partial payments. If you haven't paid your debt within the appropriate timeframe, then they'll submit your cheque to the bank for payment? and if you don't have the money, the cheque will bounce and you'll be looking at service fees from both the cash advance store and your bank.

Title Loans
A title loan is another form of fast secured loan, working much like the cash advance store but with the loan provider putting a lien against your car title (meaning that they have loaned you money, and therefore are considered to be legal owners of the vehicle) instead of you writing a cheque. Title loans usually allow for greater amounts to be loaned, and in almost all cases you get to keep your car? the down side is that if you don't pay the loan back in time, then the lender is able to repossess the vehicle. If you don't pay them back after they've repossessed (as well as pay for the repossession fees), then they're free to sell the car in order to get their money. Title loans usually aren't recommended unless you have a dire need for money, and know that you'll be able to pay back the loan before the payments get out of hand or behind.

Pawn Shops
One of the most popular forms of fast secured loans is the pawn shop. The way that a pawn shop works is that you bring in some item of value (ranging from rings to computers, and sometimes even your car title) and they loan you the amount that they estimate it to be worth. Their estimation will be much lower than the actual value, and they'll keep the item as collateral; when you pay back the loan (usually within 30 days), then you'll get your item back. If 90 days pass and you haven't picked up your item or made payments on the loan, then the pawn shop is free to put it on their shelves and sell it to whoever wants it.

As you can see, fast secured loans are fast and can get you the money you need if you have a desperate need? but they have some serious drawbacks as well. Use caution when deciding whether you really need the money that badly, and go in with a definite plan for paying the money back.

You may freely reprint this article provided the following author's biography (including the live URL link) remains intact:

About The Author

John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the http://www.directonlineloans.co.uk website.


MORE RESOURCES:

Arcil to buy more of bad home loans
Sify, India - 49 minutes ago
Mumbai: Trickle by trickle, banks are unloading their bad home loans to the Asset Reconstruction Company India Ltd (Arcil), the aggregator of distressed ...
IOB enters JV to recover bad loans Business Standard
all 3 news articles


Bank’s loans target pastoralists
Daily Nation, Kenya - 6 hours ago
K-Rep Bank has started giving loans to livestock farmers in the northern and upper eastern districts which had largely been overlooked by other banks in the ...


News & Observer

MOE denies report on student loan defaults
China Post, Taiwan - 53 minutes ago
TAIPEI, Taiwan -- The Ministry of Education denied yesterday that the student loan default ratio has surpassed 12 percent and that the amount of overdue ...
If you want to borrow a lot of money for college, you are not ... Chicago Tribune
Credit squeeze puts pressure on private student loans Action 3 News
Bond Crisis Already Crimping States Kansas City infoZine
DesMoinesRegister.com - News & Observer
all 30 news articles


US banks turn to Fed for $50bn in short-term loans
Times Online, UK - 1 hour ago
American banks are thought to have borrowed as much as $50 billion (£25.6 billion) in short-term loans from the US Federal Reserve, it emerged last night, ...


Women can access loans through new fund
Independent Online, South Africa - 3 hours ago
It will offer loans from R30 000 to R2-million in a first phase aimed at small to medium enterprises. Trade and Industry Minister Mandisi Mpahlwa said at ...


Calgary Herald

Sandler says N. Rock could take years to repay loans
Reuters UK, UK - 11 hours ago
NEWCASTLE (Reuters) - Embattled mortgage bank Northern Rock could take "some years" to repay 25 billion pounds of government loans, its new executive ...
Risky Northern Rock rescue plan may take years, new chairman says Xinhua
NRock will return to private ownership - Sandler ifaonline.co.uk
Sandler: Northern Rock will take years to stabilise FT Adviser
Telegraph.co.uk - Guardian Unlimited
all 393 news articles


Banks tighten lending standards for business loans
MSNBC - 18 hours ago
Francisco "Pancho" Marrero, director of the Small Business Administration's southern Florida district, notes the number of SBA-backed loans from banks has ...


Senators warn against 'instant rebate' loans
Dallas Morning News, TX - 22 hours ago
The senators said that families due large rebate checks starting in May need to be wary of upfront loans that promise rebates without the wait but come with ...


Emirates NBD bank sees home loans jump as rates fall
Reuters - 14 hours ago
Lenders in United Arab Emirates, one of five Gulf oil producers that peg their currencies to the dollar, are lowering interest rates for homes loans as the ...


Wall St. Banks Confront a String of Write-Downs
New York Times, United States - 25 minutes ago
High-risk loans used to finance corporate buyouts have plummeted in value. Securities backed by commercial real estate mortgages and student loans have ...
Many more job cuts ahead for Wall St banks Reuters South Africa
all 5 news articles

Loans - Google News












home | site map
© 2007