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Sep 28, 2017 - 34 minute read

Things to say to get approved for a personal loan

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Things to say to get approved for a personal loan

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Things to say to get approved for a personal loan

If a borrower fails to pay their loan, the lender is allowed to repossess the collateral and sell it in order to make their money back. There are two types of loans available to borrowers - secured and unsecured. Secured is named because each loan is secured by a borrowers collateral. Usually the item put up for collateral is specified when the loan begins.

Other types of collateral are required by the type of loan. (Mortgages, for example, are always secured using the borrowers home as collateral. ) From a lenders perspective, loans secured by collateral are less risky.

Things to say to get approved for a personal loan
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