Fixed Rate Personal Loan Very Bad Credit Personal Loans

Personal loans are designed to provide money to the borrowers for any of their personal purposes. You can use the cash for expenses like, college fees, renovation of home, luxury holiday, car buying, and even for consolidation of the debt. Personal loans come in two forms, secured and unsecured personal loans. Secured loans are guaranteed by the borrower with a personal asset such as a real estate. Unsecured loans do not require any collateral but can be more expensive. A poor credit history is often a problem when applying for a new personal loan. Still, plenty of bad credit unsecured loans are available in the marketplace. These special loans are for borrowers who usually cannot get a loan elsewhere because they made late payments in the past, had arrears, defaulted on payments or had CCJs and usually have a low FICO score, indicating high risks for the lenders.