Direct Loan Lenders Vs Indirect Loan Lenders
In these difficult economic times we are living in, most people are finding it a struggle to live from day, what with the cost of living rising but with no increase in salaries. These people get into really desperate situations when they need money for an emergency with most lending institutions unwilling to lend money to those with bad credit. The only way out is to get unsecured loans from a lending institution that will be willing enough to lend the money but at a very high interest rest.
Unsecured loans are loans that are not secured through any type of collateral which makes it a highly risky transaction for the lender. This is one of the main reasons for the high interest charged for this type of loan. Although it's not easy to find a lender for an unsecured loan, it's not impossible because there are some who're waiting to cash on this type of situation by charging exorbitant interest.