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In the age of corporate greed and bank bailouts, the consumer has been dealt a bad hand and forced into situations where we struggle to make ends meet to care for our families.

But is this really any different than the major corporations like Goldman Sachs and General Motors who filed bankruptcy and defaulted on billions of dollars?

The end result of slow paying our creditors is that our credit can be deemed “bad”. What doesn’t change is that we (just like the big corporations) still need loans!

A personal loan can be secured or unsecured, which means that there may be collateral or not. Unsecured loans usually carry a higher rate of interest because they are not backed by collateral and thus present a greater risk to the lender. If you enter into a personal loan backed by an asset such as a home or a car, the lender will have the right to seize your pledged asset in event of default. There are Bad Credit Loans available for an assortment of situations.


she has her heart set on. You may not be able to afford it right away but you can take out a loan and repay it over a period of time. Further, there are a number of expenses that you may not be able or willing to put off. A holiday, for instance, or a quick flight home from school to dump your dirty laundry on mom.

to tap dance school. And then there are the add-ons you simply have to have when you move into a new house – that perfect rug or that cozy lounger. The truth is, life is expensive… Costs are always surfacing and many times unexpected. Best bet is to make sure that you designate emergency funds for the surprise expenses, however this is easier said than done. If this is not reasonable, then then a bad credit loan may be for you; all you have to do is plan appropriately and ensure that you have an adequate stream of income to service your loan.

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