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People Trust is pleased to offer our clients a Consumer Signature Loan. The Consumer Signature Loan is a loan that can be used for many purposes. A Signature Loan is an unsecured personal loan. It's not secured by the equity in your home (such as in a home equity loan) or by some other personal property or asset (such as a car loan).
Consumers typically use a our Consumer Signature Loan for purposes such as:
Generally, our Consumer Signature Loan offers the following:
Maximum term 12 months
Interest rates will vary and range from 5% -12.99%
Loan Amounts up to $1,000.00
Understand the Terms
Generally speaking, our Consumer Signature Loans are unsecured, meaning they do not have collateral attached. Because of that, these loans will be can be more difficult to obtain through traditional lending sources.
It is very important for you to know and understand all the terms and conditions of the Consumer Signature Loan before signing the promissory note that legally obligates you to repay the debt. If you do not understand any of the terms or conditions, you should clarify what they mean with the People Trust to ensure you are clear on the repayment terms. All information about the loan should be disclosed in writing and loan documents should not contain any blank spaces.
Personal loans may be taken out individually. If the borrower fails to make regular payments, the borrower could receive collection calls or letters. If collection efforts do not yield payments, lawsuits, credit damage, and garnishments could result. If you choose to obtain a Consumer Signature Loan, make certain you are able to make all the regular monthly payments.
Make sure you could feasibly afford to make the monthly payment.. Thus, if you cannot afford to make the monthly payment, it might not be a wise decision to get the loan. Finally, you should always keep a copy of the loan agreement and promissory note for your reference and records.