Unsecured Loans vs Secured Loans

petergomes

I need to procure a loan to fullfill my financial needs. But i m confused whether i should avail an unsecured loan or a secured loan. Can anyone help me in taking the above decision? If yes please give me a perfect guidance.

DawnW

I am sure someone much more knowledgeable will come along in a minute, but just so that your post does not get lost, you might like to note the following; this site usually advises against secured loans, as failure to make payments puts your home at risk, whereas defaulting on an unsecured loan is much less likely to result in this. I am sure you are not intending to default, so no offence intended, but there are lots of people on these forums (fora?) who have unexpectedly been unable to continue payments for no fault of their own, due to things such as accident, illness, redundancy etc. Also, as secured loans can be over a much longer term than unsecured ones, that means that you could end up paying more interest overall. Good luck with whatever you decide.

petergomes

Thanks for helping me in emerging out of the confusion. As you suggested I compared both secured and unsecured loan options offered from the online lenders. But a online website which offers both unsecured loans and secured loans is attracting me. so please guide me whether i m going in a wright direction or not?

tom188

Strange english, links to a website, this couldnt be :spam: by any chance could it?