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Bad credit Loans backed by automobiles usually allow for the lender to repossess the automobile if the borrowed money is not returned. Financing backed by property usually allow lenders to place liens on the property and collect from a borrower through extra bills. Finally, money secured by paychecks allows lenders to cash a pre-written paycheck come a borrowerâs next payday. Loan Renewal: Your lender may offer loan extensions and renewals if you submit a late or partial payment, or if you miss a payment. These extensions and renewals sometimes require additional fees and may be automatic in the event a payment is tardy. Your lender will have its own repayment policies, but they must comply with applicable state laws Compare online the highest rated business & personal bad credit loan lenders
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