By: Michael Challiner

If you are looking for a loan or line of credit be ready to be depressed. The fact is that even if you have a perfect credit history, you re likely to be offered a smaller loan than you applied for at an interest rate far higher than you’d ever expected. And there are likely to be onerous conditions attached.

Take homebuyers for example.

By: Corey Landis

Bad credit personal loans can be pretty painful. In addition to high interest rates, you are also forced to contend with inflated late fees. You may not be aware, but many of these loans include prepayment penalties, which means that if you try to get ahead and pay off your loan ahead of schedule, the lender will exact payment of all interest lost in addition to the sum of the principal balance. And, there will most likely be a demand for collateral, an asset you own such as your car or house, since an unsecured loan puts the bank