In life a lot of times things just happen; without warning and for no reason. Maybe your car broke down, maybe you had some unforeseen medical bill or maybe you really need money for that vacation you are about to take. Whatever the reason there are points in all our lives were we need more money then we currently have available to spend. These situations call for something extra, a personal loan. A personal loan is a short term, unsecured loan that you can receive from a financial institution or loan company in Sweden.
Personal Loan Information
A personal loan is an unsecured loan. An unsecured loan is a loan that is not backed by any sort of collateral, a mortgage would be considered a secured loan. A personal loan uses your paycheck as collateral, but since your paycheck is not a piece of physical property the loan is not considered secured. When you need a personal loan you apply for the loan amount, lets use $500 as an example. You write a check for $530, the extra being the agreed upon interest rate, which the company holds until the loan matures.
This assures the company that you will not default on the personal loan. When the personal loan matures you can either pay it back or extend it. When you extend the loan you are basically taking out another loan. When the extended loan is up you will have to pay back both loans plus an extension fee. A personal loan is sort of like getting your paycheck earlier. It is not any different then going to your boss and asking for your paycheck, minus a few dollars, in advance.
So why should you get a samla krediter och lån? If you need money and can not wait until your next paycheck then you do not really have another option. Defaulting on your bills, writing bad checks, and over drafting on your checking account will just lower your credit score and cost you more money in the future. Even with the interest rate it makes better financial sense to get a personal loan. Its perfectly legal and is increasingly popular. A personal loan will make those headaches go away.