Secured & Unsecured Loans
May 8, 2007 – 12:33 amI personally feel that it is way too easy to apply for a loan no matter if it is housing or personal loans. I feel that this isn’t good because it will cause more financial problems to the loan borrower because from what I know, as my friends told me, they could borrow a few loans from different financial institutions and yet, their salary is still the same amount.
Some of my friends take out unsecured loans because they feel that should they be rendered unable to repay their installment, at least their fixed assets are not affected but then the interest rates are higher.
On the other hand, I have friends who rather take out secured loans. They usually use their house as well as cars as collateral; putting these at risk should they be unable to repay the loan some time in the future.
I personally have friends who were so pressured to service their loans that they would rather commit suicide. I know it is very unfortunate, but this really happened!
Hello and welcome to my blog. I would love to receive your comments! If you wish to be updated on new content, do subscribe to my RSS feed on your feed reader or via email. Thanks for visiting!
Related 'MUST READ' posts:
