Unsecured Loan No Credit Check

An unsecured loan no credit check offer from one of many online lending companies may sound like the perfect answer for the person who has a sullied past in regards to his/her borrowing history. What could be better than not even having anyone check to see how poorly one has handled money issues in the past, and still offering to give more money out as another trial balloon? For the person predisposed to late payments, defaulting on lending agreements or getting to be golfing buddies with the local debt collection agents, an unsecured loan no credit check offer is a very sweet deal. But the sad truth is that even if a person has no idea what a debt collector is or does, one of these offers is just an invitation to more financial gasoline on an already raging fire, with one very real exception which will be discussed later in this article. So where do these offers come from?

As sure as the moon is not green cheese a bank will never offer anyone except the bank president's mother and maybe Donald Trump and maybe not even him, an unsecured loan no credit check offer period, end of story. Getting a bank lending agreement will provide a person with the lowest interest rates, but only with the most highly qualified customers. Even with all the stories of late regarding banks failing over some questionable banking practices, an average Joe person has no chance of getting such a highly speculative borrowing agreement because banks are notoriously conservative. Banks have stockholders who demand safe and conservative financial dealings so that dividends can be counted on each quarter. Where a person will find such a lending agreement is with a lending company which is backed by investors looking for high returns on the investment dollar and who welcome the opportunity to take high risks in order to get huge returns.

In many cases, high risk pays high money, such as the Alaskan fishermen who have what is called the most dangerous job in the world and can make thirty thousand dollars or more for a few days work. The workers on offshore oil derricks, Indy race car drivers and dozens of other high risk occupations can make pretty good money because the job has a high risk of severe injury or death. So also the risk is high of losing a lot of money when offering an unsecured loan no credit check deal to someone that probably has a checkered past when it comes to handling borrowed money and little to no investigation is being made into the details and no collateral is being fronted for the loan! For the lending company, though the risks are high the numbers are with them because they do make a lot of money. But for the borrower, this type of unsecured loan no credit check offer can be a financial nightmare if not handled correctly. A small unsecured lending agreement may be a positive thing if the person uses it for one purpose only: to begin to repair an injured borrowing history. Resolving to payback a small loan with on time payments each month can go a long way to bringing healing to one's credit reputation.

Consider first the no credit check part of the loan agreement. An unsecured loan no credit check offer means that the lender knows exactly who is coming in to their office to borrow money: someone who has failed to handle money well before, or someone who has a very poor debt to income ratio. Late payments on a credit report are a killer as well as defaulted loans. Most people would recognize that as being credit problem. But just as much of a problem is having too much debt for the amount of income a person has, even if that person has made most or all of their payments on time!

So when a company makes an offer to lend money without considering a person's track record, knowing that very high interest rates for that loan will be expected is a no brainer. Then add to the mix the fact that the lending company is giving the borrower money without collateral and the interest rate is going to go through the roof. A car title, a boat title, jewelry, equity in a house, a coin collection or maybe the family dog could be collateral but none is asked or even expected so what else can be probable but exceptionally high monthly payments to pay the loan off? And in most cases the person taking the unsecured loan no credit check offer, a someone who can least afford for this to happen, becomes an even more committed slave to the world of debt. "Therefore all things whatsoever ye would that men should do to you, do ye even so to them for this is the law and the prophets." (Matthew 7:12)

Before getting such a very expensive lending agreement that make take years to pay off, check all the resources available. If a person is a child of God by having trusted Jesus Christ as Lord and Savior, that individual has the most favorable resource of all, the God of the Universe. Scripture reminds its readers that God actually knows when each and every sparrow hops on the ground. Wow! For the believer, an unsecured loan no credit check offer is the last thing God wants HIs children to get involved with because He wants and longs to provide for all of their needs, but not their greed. If the reader is a Christian, wait and let God handle your financial problem. He already knows about it but wants for His child to trust Him for the right answer and not seek a self destructive loan.

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