Before you make the decision between unsecured personal loans or car title loans, it’s important to compare their benefits and drawbacks, as well as understand why collateral plays such a pivotal role in these borrowing choices.
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Now that the dust has settled after Hurricane Sandy, many East Coasters are facing the unfortunate reality of how the storm has rattled their finances. Time Magazine estimates that Sandy will cost $60 billion between property damage and lost business. But banks and lenders have placed a sliver of hope on the horizon.
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When it comes to consumers that have bit off more than they can chew with their unsecured personal loans, debt settlement traps could be costly.
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During your eleventh-hour of financial need, it may become difficult to distinguish an honest lender from a predator. When a lender is saying all of the right things that make you want to sign on the dotted line, your normally sound judgment can start to show some cracks.
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Before you jump the gun and finance an expense with your plastic, consider all the lending options you have at your disposal.
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