Escape The Humiliation Of A Credit Check With No Credit Check Loans
Much to the chagrin of borrowers with a bad credit, any loan is sanctioned only after the lenders conduct a thorough check on the borrowers financial antecedents and his credit history. The borrowers with a poor credit find the process of credit check quite humiliating and they detest it because it shrinks their chances of getting a good loan offer. The idea of a loan without any credit check comforts them very much. But, it is a risky proposition for lenders, because they have to lend their money without having any background knowledge about the persons creditworthiness.
No credit check loans can be of two types- secured and unsecured. Secured no credit check loans take the home or any other property owned by the borrower as the collateral.
The loan amounts in case of secured no credit check loans are proportionate to the value of the collateral. Secured no credit loans provide a large sum and have lower interest rates. The typical APRs for a secured no credit check loan range from 8% to 20%. The repayment terms can also go up to 20 years in the case of secured no credit check loans....
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