What Are The Risks With A Personal Loan?

**tanmaysnv** · 04-09-2010, 12:02 PM

What Are The Risks With A Personal Loan? Please help me if anyone know.

**Chrisopher Moltisanti** · 04-09-2010, 12:16 PM

Depends on how bad you need it and who you're "borrowing" from.

Conventional loan from a bank: What do you need it for? How much? How long can the loan be drawn out? Five years for like a car loan? How's your credit?

If you need a floater loan, you'd better have it back in the hands of the lender with two and a half points or the difference gets tacked on to the principle and you'll be chasing what you owe in perpetuity.

**maui** · 04-10-2010, 01:49 AM

Originally Posted by tanmaysnv

What Are The Risks With A Personal Loan? Please help me if anyone know.

Perhaps you can be more specific as to the situation that you are inquiring about. Is there collateral? What are the proposed terms? Is this even real estate related?

**propertysale** · 04-14-2010, 05:46 AM

I think it depends with the situation when you get a personal loan is like borrowing money from a bank or building society or some other financial services provider. Typically you receive a lump sum and agree to pay back the loan over a fixed period with agreed monthly payments.

**Urban Edge** · 04-14-2010, 12:20 PM

you will need to be more specific for us to help out....

**amasters** · 04-16-2010, 01:08 PM

Impossible to say without more information. Who is the person you're borrowing from? Friend? Family? Loan shark? What is the rate? What is the collateral if any? What are the loan terms?