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Monday, April 12, 2010

For a collateral...

A friend who works in a financial institution mentioned about a Collateral loan which we can avail. Actually, she is offering it for us. Although, we are not really in need of such, it would be nice to share what it is all about.  We could use the existing car titles we have for this kind of loan called car title loans. This is somehow the same with those car title loans Los Angeles. It is like a secured loan that let you borrow money using a property as a collateral. You can use a piece of land, pink slip of car, truck or van to get the value of your loanable amount. It is somehow a kind of loan that you will need especially for emergency or immediate requirement. This kind of loan can be paid based on agreed monthly installments of over period of 36 months. If payment has not been made, there is a chance that the property or whatever car title you have put as collateral would be repossessed.  Getting into something like this should be given careful thought and consideration.  You do not want to come into terms which something that would put you in a more terrible case of losing all properties.  I guess reviewing your family's income and plotting your monthly expense would give you an overview on how much you've got each month.  Should it be enough and you really do not need any for emergency case, do not put yourself into a more problem matter later on.  Well, just my thoughts.