Tag Archives: unsecured
Unsecured loans calculator: assured funds with feasible terms
It is not always that you look for financial assistance in the form of loans. In most cases, you avail loans only when the prevailing circumstances demand and you dont seem to have any other option. If by any reason, you are not in a position to pledge collateral and you need the funds for a relatively short term period, then you can certainly opt for the unsecured option. But availing these loans without giving any second thoughts may ruin your financial stability. It is in situation like these that you can opt for the unsecured loans calculator.
These loans, as a matter of fact do not require any collateral for its approval, as the funds are made available for a relatively short term period. The loans are also highly beneficial for applicants such as tenants and non homeowners, who can easily acquire the funds to overcome financial hassles. As per the need and requirement, one can derive any amount in the range of £1000-£25000, which then has to be repaid over a period of 6months- 10 years. In the case of these loans, the loan amount is more or less released after assessing the income and prevailing circumstances of the loan applicant.
As the loan amount is released against a relatively short term period, the interest rate charged is marginally high. It is mainly done to the element of risk faced by the concerned lenders, by approving the funds without any adequate security. This makes a bit expensive option, as the applicants have to pay more than what they had availed in real essence.
However by making use of the calculator, it is now possible for the same applicants to acquire the loans with viable terms and conditions. The calculator is designed to assist the applicants, so that they can avail the best deals that suit their prevailing circumstances. This is how one can grab suitable offers, without having to face too many hassles.
So, with unsecured loans calculator, one can definitely grab the loans with the sophisticated offers and that too without any hassles.
Quick Loan, Quick Death
Many people find themselves up to their necks in the mud, well
actually debt, and fear a loan because they do not know about these matters or because they think it is a complicated procedure or because they will irreversibly be turned down. All they have is a credit card which is their last resource and it is already up to the brim: Recipe for disaster.
When you begin to feel the rope tightening round your neck, you start to panic. You see a notice, a poster or an ad in a paper that says, Get Cash Now! You investigate and you find out that you can leave the place in a matter of minutes with the cash in your pocket.
Your Credit Card
All they have done is to sell you a pocketful of cash and charged it to your credit card. Double mistake: The first one, to go to these vultures who speculate with your panic. The second, charge a loan to your credit card. However low the interest rate is, it will never be under 18%. Add to that, the fee the lender charged you and you are in for a blazing inferno in no time.
Unsecured Loans
Even if you do not have any property or valuable item to provide as a security, there certainly are unsecured loans in the market and they are not at all expensive. If you compare it with the credit card interest and, in this case, plus the fee, an unsecured loan is dirt cheap. The highest rate you could have to pay is 10%. (And no fee)
Back To The Same Old Story
Credit card debt, as we all know, is terrible when your income will only allow you to make the minimum payments. They go on and on forever and as the song goes, You are one day older and deeper in debt. Then, you end up owing your soul to the credit card company.
The Solution
The only solution to a serious debt situation is to forget about credit cards and take to a recognized lender for a proper loan. It will always be lighter on your monthly budget, with a longer term to repay and a normal interest rate. Whether secured or unsecured, personal loans usually have a three year plan, which is quite healthy and your monthly installments will be low enough to keep you on the safe side.
Other Measures
Some complementary measures must be taken as well, to help alleviate the situation. The first is to reduce spending. If you have a very packed credit card, which is why you had to resort to the unfair loan, put it away and do not use it at all until you are free of debt.
With the loan you will be paying it off, but you need to get used to spending less.
Increase Income
Each time you have to take cash out of your wallet, you will feel as if you were losing a part of your own self and you will think twice before spending on something that is not really necessary. This kind of action should also be accompanied by serious efforts to increase your income.
Get all the family involved. Children and adolescents should contribute, if not with a job, at least with the decrease in spending. They also benefit from the good times, do not they?