Posted on: 25th Sep, 2009 01:15 am
What is the difference between an emergency payday loan and a personal unsecured loan?
Hi marklavender,
An emergency pay day loan can be defined as a short term loan which you can get with a very short notice when you are facing any emergency situation. There is not much difference between an emergency payday loan and a normal payday loan. There are various online companies offering such loans. However, lots of scams related to payday loans are also taking place these days. So, one should be cautious enough before taking a payday loan.
In case of personal unsecured loan, you will have to give a personal guarantee for the loan taken. You will not have to keep anything as collateral. You can use the funds for anything you want to do. In most cases, the terms are flexible and affordable.
Take care.
Sara
An emergency pay day loan can be defined as a short term loan which you can get with a very short notice when you are facing any emergency situation. There is not much difference between an emergency payday loan and a normal payday loan. There are various online companies offering such loans. However, lots of scams related to payday loans are also taking place these days. So, one should be cautious enough before taking a payday loan.
In case of personal unsecured loan, you will have to give a personal guarantee for the loan taken. You will not have to keep anything as collateral. You can use the funds for anything you want to do. In most cases, the terms are flexible and affordable.
Take care.
Sara
hi,
personal unsecured loans can be paidoff between 1 & 6 years.to qualify for the loan you must have the credit score 580 or have a co-signer.
emergency payday loan : the repayment term of these loans are very short,approx. two pay periods.
personal unsecured loans can be paidoff between 1 & 6 years.to qualify for the loan you must have the credit score 580 or have a co-signer.
emergency payday loan : the repayment term of these loans are very short,approx. two pay periods.
Payday loans are done, when you are in need of money and you live pay check to pay check
personal unsecured loans are soemthgin more planned and it is long terms.
Where as the payday loans are short terms loans
personal unsecured loans are soemthgin more planned and it is long terms.
Where as the payday loans are short terms loans
Unsecured personal loans can be paid off in one to six years and have some credit score restiction. But in case of Emergency pay day loan there is no restriction of credit score and also they are short period loan.