What Is a High-Risk Personal Loan?
High-risk personal loans are financial tools offered by lenders who are willing to extend loans to people with poor credit ratings. Since the lender assumes a great deal of risk in extending personal loans of this nature, it is not unusual for both secured and unsecured personal loans to carry a higher rate of interest. While a high-risk personal loan is available to many people with bad credit, there are still basic criteria that must be met in order to qualify for this type of financial assistance.
