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When you are a defaulter in paying your EMIs of any personal loan regularly, it impacts not only your CIBIL credit rating but you are also inviting legal trouble. Therefore, instead of defaulting, it is always wise to convert a personal loan which is an unsecured loan to a secured loan against assets such as a house, car, mutual funds, RBI bonds, gold, bank fixed deposits, life insurance policy, shares and debentures by asking the bank to restructure your loan. You may have heard some detractors speak against short-term lending practices. Let's face it, payday lenders sometimes get an unfair shake in media representations and news features. Far from the depictions of loan sharks that prey on the poor, elderly and minority groups, our affiliates are selected based on their sterling reputations and commitment to offering the best customer service in the business. The terms and conditions contained in the consumer lending agreement are laid out clearly, so there will be no surprises for the customer. We understand you work hard for your money and sometimes need a little assistance to cover unexpected expenses before your next paycheck arrives. No faxing required You wouldn't need a debt consolidation loan if you have excellent credit and a low debt-to-income (DTI) ratio. If you need a debt consolidation loan then you probably have a high DTI and marginal credit.
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