SECURED PERSONAL LOAN WITH BAD CREDIT

Secured Loan and Unsecured Loan:

The most common types of personal loan are Secured Loan and Unsecured Loan.

Unsecured loans are the loans which doesn’t need any security for borrowing loan. They have higher rates of interest and short terms for payback. Financial advisor suggest such loans when you are capable of repaying the loan on time. These loans are useful when you need small amount for a short period of time .Like a car repairing or urgent need of small cash amount .You can borrow from $100 to $1500 in unsecured personal Loan which you can payback when you get next pay check.

 Secured Personal Loans are recommended by lenders especially when the borrower has had bankruptcy and poor credit history.  A secured loan is secured by assets of borrower. This kind of loan is useful when you need large sum of amount, like, home renovation, car loan etc. Even the terms are longer in this loan type. Like more than 5 years and the interest rates are commendably low in compare to Unsecured Loan.  The assets may be entitled to the lender if the borrower fails to payback on time depending on the loan contract.

Different kinds of Secured Personal Loan available:

Every financial organization offer different kind of secured personal loans;

Liquid Secured Loan: It is against your eligible investments, and you don’t have to liquidate those investments to get the credit you need.

Loan against Shares: You get the loan against the shares you have on your name. Loan against shares is the best way to sort your financial needs.

Loan against Valuables: Valuables like gold, diamond and other assets on your name can get you the loan you are in need. You don’t have to sell them and you get that back when you pay your loan amount in full and on time.

Loan against Property: Mortgaging the property is the best way to get a loan at low interest rates to fulfil your current financial requirements.

Before borrowing a loan always consider your capability to repay very carefully.
Visit PayPowerLoan.com for more information on Secured Personal Loans in Canada.

APR

We know that fine print can be painful, but we believe it''s important you have all the facts!

allcreditsource.com is a division of allcreditsource.com Ltd., Canada''s largest lease-to-own furniture, electronics, appliances, and computer retailer. allcreditsource.com offers a variety of financial services, including loans and prepaid cards. allcreditsource.com Ltd. is listed on the TSX under the symbol ''EH''. For more information.

24 hour approval (between Monday - Saturday) based on a completed application and customer verification including a credit check. Payments are due on scheduled income deposits. Loans are based on a 9-36 month term and loan amounts range from $500-$5,000. Ask for details.

allcreditsource.com offers short term personal loans and is not a credit repair service. allcreditsource.com Services may help improve your credit score by building a credit history provided your payments are made in full and on-time.

Some restrictions and limitations may apply. Ask for details.

Payment includes loan protection insurance fees, but excludes applicable provincial taxes and prepaid card fees.

Amount does not include cost of insurance.

If you take out a $500 loan for a 2 week period and renew it 13 times over a 9 month period.

If you only pay the monthly minimum amount ($10 or 3% of balance, whichever is larger) with an annual interest rate of 19%. Source: Financial Consumer Agency of Canada (www.fcac-acfc.gc.ca)

If you take out a loan on a 5 year term with an annual interest rate of 8%. Source: TD Canada Trust Loan Payment Calculator (www.tdcanadatrust.com)

Effective April 2nd, 2014, allcreditsource.com and allcreditsource.com locations no longer support reloading of funds onto the Prepaid MasterCard via cash or debit. Reloading funds to your Prepaid MasterCard can still be done through online banking. For further inquiries, please email epic@allcreditsource.com

Credit Score Impact

While having a loan and honouring its obligations can help build credit, too many loans may be seen by potential creditors as an increased risk, and failure to meet repayment obligations will result in a negative report to the credit bureaus, which would reduce your credit score. Please borrow responsibly.

Renewals

Loans from allcreditsource.com Services do not automatically renew. Customers have the option to request an increase to their loan after paying down a percentage of their current loan amount and maintaining good payment history. Such a request would be subject to the company''s standard underwriting rules.

Financial Implications

allcreditsource.com Services offers personal loans from $500 to $5,000 with terms from 9 to 36 months. The APR is 39.78%, and there are no additional fees for the loan. allcreditsource.com Services does not charge a late fee, but payments returned NSF (non-sufficient funds) will be assessed a $50 fee in addition to fees charged by the customer''s financial institution.

Collections Practices

allcreditsource.com Services contacts customers in arrears as soon as possible. allcreditsource.com contacts customers in arrears through various means including, but not limited to telephone, email, postal mail, and SMS. allcreditsource.com Services may work with third parties to assist in collections activities.