Does Citibank Offer Unsecured Debt Consolidation Loans?

This is question that a few people have been asking recently and the truth is most financial institutions offer unsecured loans, but the question should be do you want an unsecured loan or can you get an unsecured loan.
Unsecured loans, sometimes referred to as signature loans, are available, but at what price? Most loans of any amount exceeding $1500 are secured with collateral, which is either your home and or possibly your car. There are two things you should know when it comes to unsecured loans. First, they require excellent credit and secondly, they normally come with a higher interest rate because the bank is taking a bigger risk by lender money without collateral backing.
If you are trying to consolidate debt, your best option is probably not going to be a loan. You are just moving the debt around. In order to start seeing it decrease, you will have to reduce your expenses and/or increase your income. Debt consolidation loans have a lower interest rate than most credit cards, but in most cases they spread out over 15 years or more. This will give you a lower payment, but more interest because you are taking longer to pay off the loan. Time is money and this is no different.
For most people debt counseling or debt settlement are better debt relief options. They do not involve a loan and it should take you no longer than 7 years to pay off your debt and could take as little as 3 years. Both of these options are better than another loan. It is borrowing money that has caused you to seek debt relief. Another loan is not going to solve the problem.
There are a number of companies that specialize in evaluating your debt and telling you whether debt settlement or credit counseling better suits your financial needs. And from there, your debt management organization will set you up with a debt management plan that helps you begin paying off your debt.
When you have debt that is consuming you it is important that you do not delay in making a debt relief decision. The longer you put off managing your debt, the worse it gets and your options will become limited. Even if you are making minimum payment, but see no end in sight, it would be a good idea to evaluate your debt relief options.
Rather than asking the question, does Citibank offer unsecured debt consolidation loans, take a good, hard look at what you really need to get out of debt. Find out more about how you can be debt free in 3-5 years.
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Secured Loans - Use Them to Get Your Credit Back On Track

If you think your credit is beyond help, think again. Secured loans may very well be the answer to your credit problems. Consider how secured loans work and what it could mean for you as you reestablish your credit.
There are two basic kinds of loans - secured loans and unsecured loans. Most large loans are secured. Banks and lending institutions want to be sure their financial investment is protected. The best way to be sure that you'll repay the amount of the loan is to have the assurance that you're going to lose something if you don't - your house or car, for instance.
Unless you have awesome credit, you're probably going to have trouble getting an unsecured loan. But taking some steps toward a secured loan may very well entice lenders to grant you a loan, even if your credit history is less than perfect.
If your purpose is to reestablish credit, talk to your bank or lender about ways you can secure a small loan. You may be able to take out a small or moderate loan while leaving enough cash on deposit to cover the loan. Seem like a waste of time? It will give the bank the security they need to justify offering you the loan while giving you a chance to show your commitment to making payments on time. If you choose this route, remember that your role is to make payments on time, every time. If you keep your part of the deal, you'll have less trouble getting your next loan without going to those extremes to secure it.
Credit cards are nothing more than small loans that are paid off in monthly installments. Usually, credit card companies offer up credit cards and the card holder flashes the card to get instant credit. Secured credit cards are a good way to start getting your credit back on track.
This nothing more than a secured loan, only the security is cash. You deposit some amount of money with the card company. Then you can use that credit card, but only to that amount. You still make monthly payments and once you establish that you'll make payments on time, you have the option of renegotiating the terms.
Jeff Lakie is the founder of Secured Loan Resources a website providing information on Secured Loans
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Non Secured Loans - Advance Funds Without Any Obligation

It is not possible for everyone to save finances for meeting their financial needs especially for those who have a fixed source of income to depend on. In that situation an external financial source can help you out but it generally requires you to pledge something as security. What if you don't even have any asset to place? Will you not be able to raise any financial help? No, that is not true. You can easily entail funds without fulfilling the collateral clause as well. How? Just by applying for, non secured loans which are an ideal solution for you.
You generate the financial help for meeting various personal expenses or accomplishing other financial obligations such as:-
Consolidating expense Paying for home improvements For cosmetic surgery Wedding Vacation Educational purpose
Non secured loans do not obligate you to pledge any asset as collateral against the loan amount. This enables non homeowners and those homeowners who can't meet collateral requirement to borrow funds. You can borrow anything ranging from £1000-£25000 for a repayment term of 1-10 years.
These loans are not backed by any collateral and therefore are provided at slightly higher rates of interest. The risk of non payment is compensated by lender by charging a higher interest rate.
Any discrepancy in your credit report is acceptable. If you have bad credit records like arrears, CCJs, IVA, late payments, missed payments, defaults and such records then also you can apply for non secured loans. You blemished credit records will not pose any problem now!
Non secured loans can also be applied online. Online application is feasible and faster processing. You can even search for a lower rate deal for by doing a thorough market research. There are many lenders available online.
Non secured loans are a great funding solution for everyone. Non homeowners, tenants, students and even homeowners can apply for these loans.
Shaun Smith has been associated with Online Loans. His articles provide you useful knowledge to find the right financial product at the right price. To find non secured loans, online loans, unsecured loans, instant loans, personal loans visit http://www.onlineloanss.co.uk/
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Factors When Considering Secured Loans

Perhaps one of the biggest points when considering a secured loan is the fact that the borrowing will be secured against your home or other major asset. If for some reason you were to find that you could not maintain the loan over the term you had taken it out over and fell behind on repayments then you would be at risk of losing your home through repossession by the lender. When taking out a secured loan with this in mind you may wish to consider protecting the repayments with loan payment protection as this would allow you money towards maintaining the loan repayments if you became unemployed or incapacitated.
The amount you are able to borrow on a secured loan would depend on many factors. It would usually be based on your personal circumstances which could include your ability to repay the borrowing as seen through the eyes of the lender. How much your property is worth would also be taken into account when deciding the limit and this could vary between lenders.
While the downside of taking out a secured loan is that your home would be at risk throughout the period of repaying the borrowing there are also benefits to taking a secured loan. Usually with a secured loan you would be able to borrow more than with an unsecured loan, however of course this would depend on the amount your property was worth. You can generally also spread the cost of the repayments back over a much longer term which could be as long as 25 years. You can also use a secured loan for virtually anything you might want. A secured loan could be applied for if you have less than a perfect credit rating and have been turned down for other types of borrowing in the past. The interest rates on a secured loan could also be less than with a secured loan which means you get a better deal.
When considering taking on a secured loan you could shop around and compare several lenders as the rates of interest will vary. However you could also consider going to a specialist broker and allowing them to search around on your behalf. They will then present you with the best deals they can find and you can then compare them in your own time. As some lenders prefer to work with an insurance broker this could work out in your best interests when it comes to getting the best deal and of course a broker will know where to look to match the lender and loan to your circumstances.
Always remember that until you have paid back every penny of the loan your home is at risk if you should fall behind on the repayments.
Consider covering the repayments of a secured loan with payment protection which would protect against unemployment or incapacity.
A secured loan could be a better solution for those who have been turned down for credit in the past.
You can generally spread out the cost of the loan over longer terms and borrow more than an unsecured loan would allow.
If you allow an insurance broker to search on your behalf you could get the best deal on a loan with the cheapest rates and you can compare at your own leisure.
Jason Hulott is Editor of Rhino Money, the solid finance information site for UK residents, which covers topics including Insurance and Credit cards
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Tips to Getting a Secured Loan For Personal Financing

You could find yourself in a situation where you are unable to keep up with your monthly bills, and you need to find a way meet your financial requirements. There are times when you are unable to keep up with your credit card debts, or you may need financing for your college going son. You may also need money to pay off your mortgage installments in order o avoid foreclosure. Personal loan is a convenient way to finance your immediate needs, till you have been able to put your expense back on its track again.
Personal loans are a good way to get over your present financial crisis, and could be availed as unsecured or secured loans. The quickest way to finance your requirement is to avail a secured personal loan, where a collateral security would ensure the immediate disbursement of the loan. A secured loan would mean that you could negotiate a much lower interest rate on financing your immediate expenditures, and you may get an opportunity for a longer pay-back period.
As for unsecured loans, you may have to pay a higher interest rate, and may have to go through credit checks and other verifications before the loan is made available to you. You may surprisingly find that the interest rate charged is higher than the interest rate you are already paying for the debt that you have. In order to qualify for personal financing, at the very first instance you have to be employed at the same place for at least six months. Your pay stubs may be required when you apply for a unsecured personal loan for verification of your income and residential address. More-over, the loan amount would depend on how much your earnings are.
When you take out a secured personal loan to finance your immediate expenses, it is generally secured against your asset, such as your property. This acts as a security to the lender, where the money loaned to you is secured against the value of the property, which is generally your home. This type of personal financing, where you keep your property as security with the lender, is often termed as house owner's loan. If you are looking for large personal financing, which you may require for some renovations done to your home, secured loans are ideal personal financing schemes for such large loan amounts. Secured loans are also a solution for home owners where unsecured personal financing has been refused.
Personal finance, secured against the assets of the borrower, carry a much lower interest rate than unsecured loan. Further, the interest rate could be negotiated, with low monthly re-payments. The amount of loan given would depend on the lender, but would essentially be determined against the value of your property. The lender may decide to have your property valued before deciding on the loan amount.
With secured personal loans, you will find the lenders are patient with you if you should default on your payments. The collateral security against the loan provides the lenders with the confidence that the money is very much secured against your assets. In case you cannot pay back the loan, your lenders will have the right to sell your property and recover the amount.
When taking out personal loan to finance your needs, you need to pay special attention to the annual percentage rate (APR) that is being charged for the loan. This is one of the important of all the other components in taking out a personal loan. You would need to negotiate and get as much advantage as you can, simply because you are providing a guarantee of payment in form of the collateral security that you are providing. The other point is that, sign over your collateral when you sign the loan documents, and make sure that everything appears in the document an nothing remains verbal.
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Secured Loans With Bad Credit

Bad credit doesn't mean you won't be able to obtain a loan. These loans are available to almost anyone, but are risky and should only be used in emergency situations. If you've had a recent financial crisis, but are back on your feet and in the clear again, a secured loan may be right for you. If you have been unable to repay loans before and are in the same position again and in desperate need of money, you should avoid this.
The catch to is the collateral. In order to obtain a bad credit loan, something of equal value must be offered in case of failure to repay the loan. The collateral, known as a security deposit, is then seized and sold by the loaners to get their sum of money back. Because the security deposit ensures the lender can reclaim their money, they are often willing to offer extended repayments at lower interest.
Security deposits are most commonly cars or houses, but anything of equal or greater value can be used. A document is signed that entails the rights and ownership of the security deposit to the lender. In most cases they don't take the deposit until the borrower begins missing payments. Smaller pieces of collateral such as jewelry and coins are generally taken immediately and held until the loan has been repaid. The seizure of the assets is commonly called repossession or foreclosure.
Lenders are often far beyond insistent and sometimes unlawful when dealing with debtors who have failed to pay. They will often go to any means necessary to collect the loan back. When a bad credit secured loan is obtained, all debt solutions and debt management organizations are no longer possible.
Banks generally don't deal in secured loans, except second mortgages. There are still many lending institutes that deal in secured loans, and they can be easily found in a newspaper or phonebook. The internet is also a good place to find companies offering these loans.
Before obtaining a secured loan, shop around for the lowest interest rates. The internet offers quotes and comparison shopping websites to help you get the lowest rates possible. Keep in mind the security loan. Ask as many questions as possible. Make sure what you plan to offer is enough, and find the company with the right terms. Most importantly, make sure you'll be able to keep up with the payments before applying and receiving any bad credit secure loan.
learn more about loans with bad credit and Instant Online Loans
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Home Owner Secured Loan

For many people, it can be quite confusing as to why exactly home owners are able to get such low interest rates when they take out loans through a bank or other financial institution. For tenants, for example, their interest can easily be three times that of what a home owner has to pay, so you have to ask why. Comparing loans between homeowners and tenants, you will see that the home owner secured loans are the lowest around, and tenants are dealing with much higher interest rates. Home owners are given these rates due to one particular characteristic, and that is that they own a home. This makes it possible to use the house as security on your loan and makes the lender feel as though there is much lower risk in giving them a loan, as opposed to a tenant who has no real security to offer.
The majority of the different advertisements that you will see, ones that advertise the lower interest rates and fantastic terms, are because they are specifically geared for homeowner secured loans. In this case, the homeowner is able to use their home as collateral, ensuring that the lender's investment with the homeowner will be secure. On the other hand, if you are a tenant and have only had a job for six months while in your flat that you got around the same time, or you live with your parents, you pose a much higher risk to the lender, because you cannot offer any security, and you have only had a job for a short time. Tenants will have to expect higher interest rates on their loans because the lenders have very little reassurance that they will be able to pay.
When you're looking at a homeowner secured loan, however, you don't just need to actually own the home, you require equity as well. Equity is the monetary difference estimated between what your home is worth now and how much you have left on your mortgage. For example, a homeowner who has been paying off their mortgage for a couple of years, then the balance of that mortgage has continued to go down while your house's value has only increased. So, if you continue to have a mortgage for quite some time, then your equity can be quite impressive, making you a prime candidate for a lender. The fact is that with a typical homeowner secured loan, you are able to borrow a large percentage of your equity, just about up to the limit that the lender has set for all maximum loan amounts. Most often, that number is somewhere around 25,000 pounds, but there are exceptions with every lender that you speak to.
So, when you start looking at different loans and you are a homeowner, certainly take the time to look into the benefits of having a homeowner secured loan that will allow you to utilize your equity and the fact that you have the security of a home in order to take care of whatever financial needs you have.
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