Loan -- my first time was just 3 years ago. It was right after 1-2 years since I got hired in my current company. I had no idea back then -- mostly -- my colleagues would say that I should get that particular loan because it was my right or something like that. Anyway, I got it and it was just a small value and I think I used it to consolidate my credit card debt.
One thing we should look out for is the type of loan we are applying. These are the generic types.
Unsecured loans or otherwise called as Personal Loans was I think what I got back then. It's basically offered to those with good credit ratings. The purpose of the loan wouldn't really matter to the institution offering it.
If there are unsecured loans -- there are also Secured Loans or otherwise known as Homeowner loans -- these are basically the risky type of loans. Why? Because usually these are secured against your home. Failing to repay your loan for this type would mean that it's bye bye home. These are usually the option for those with bad credit ratings.
I thinking of getting another loan -- an unsecured one. I still think I have a good credit standing. We'll have to see.
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