What are the dangers of Regional Finance loans?


Quick Answer

Regional Finance offers personal loans that usually require collateral, explains its website. If proper payment is not made according to the terms of the loan, the borrower may lose any collateral he provided to Regional Finance. These loans are available for paying bills, taking vacations and other borrower needs.

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Full Answer

Personal loans offered by Regional Finance require personal property collateral to secure loans, notes Regional Finance's website. Larger loans may require car or truck titles, while smaller loans require personal items such as electronics. Personal loans may be expensive for some borrowers and should only be used as emergency financing, recommends Bankrate. Loan terms may result in loss of collateral if the borrower violates the payment agreement. Borrowers should read the loan terms carefully and seek credit counseling if they want to create a financial plan that minimizes the use of personal loans.

Regional Finance makes every reasonable effort to help borrowers keep their belongings, claims its website. Borrowers have a range of repayment term lengths available and may make payments at any Regional Finance location. Loans are available to borrowers with bad credit. Personal identification is required for a loan application, and Regional Finance files reports with credit bureaus regularly.

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