Unsecured Personal Loans

Hi,
Unsecured loans have come a long way since their inception. The pinnacle has been reached in the form of bank credit cards that allow the consumer to take out many little unsecured loans. Every time you make a purchase on your credit card, you are, in effect, taking out another loan from your credit card company. At the end of each month your credit card company combines all your many little unsecured loans and bills you for the total. Compared to fifty years ago, when most unsecured loans involved going and talking to your bank, filling out applications, and going through an approval process, today receiving unsolicited pre-approved credit cards in the mail is considered a streamlined way to get consumer credit business. This practice of the lending industry results in many financial problems for the credit user. One of the major advantages of past credit practices was the full disclosure of the terms and conditions of the loans to the customers. This allowed consumers to be fully aware of the terms, conditions, and obligations of their loans before they accepted them. In today's credit market, full disclosure is given often times in a labyrinth of small light print on the back page of one of the credit application forms. Tomorrow I'm going to talk about some of the old school loan habits you can use to manage your financial affairs in today's credit market.
Until then,
Alan