Unsecured Loans with No Credit Check

by Anita Vasquez

I think there are times when a person gets a little stressed due to a personal cash shortage, and due to that stress starts to lose a little of their ability to reason. Such is the case with folks who are looking for unsecured loans with no credit check. Yes, I realize that between 2002 and 2007 (give or take) the entire lending world seems to have lost its mind and started throwing mortgage-sized amounts of money at anyone with a pulse. I think an unfortunate side effect has been that people who have absolutely no business borrowing money have gotten the idea that not only can they borrow money, they can do so without having the lender investigate their ability to repay and without providing the lender with a shred of security.

Folks, this just isn’t very reasonable. From the time you borrowed five bucks from your big brother to go to McDonald’s as kids you learned that a lender wants to have a reasonable expectation that he or she is going to be paid back. In your big brother’s case he happened to live with you and if you didn’t pay up he could thump you (or maybe just have your parents pay him back out of your allowance). In any case, lenders have to check your credit or have some form of security so they know that they’re probably going to be repaid. It’s common sense.

Now, just because I think it’s going to be very hard for you to get no credit check instant unsecured personal loans, doesn’t mean you can’t get any loan at all. You could very well get a secured loan with no credit check, where you actually give the lender some form of collateral they’d be able to sell if you happened to disappear forever with their money. You might also be able to find an unsecured loan with a credit check. After all, they don’t mind lending money without collateral as long as they can get a good look at your credit history and see that you have a track record of making your payments.

So, be reasonable. If you need to borrow some money, do so with the lender in mind as well. If they want to stay in business they need to be careful with their money, and that means either checking your credit or securing some collateral before giving you a loan.

No Comments

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a comment