About Me

Beautiful Ruby Necklaces

Six months ago, my younger sister married her best friend in a beautiful, church ceremony. I was one of the four bridesmaids in her wedding. The bridesmaid dresses were short and black. The shoulders and backs of the dresses were made out of black lace. Because my sister’s color scheme was red and black, she decided to purchase all of her bridesmaids a gorgeous, ruby necklace to wear with their black dresses. These sterling silver necklaces contained ruby beads and crosses made out of white topaz stones. On this blog, I hope you will discover the best kinds of ruby jewelry items to buy the bridesmaids in your upcoming wedding. Enjoy!

Beautiful Ruby Necklaces

3 Reasons To Utilize A Collateral Loan

by Luis Cabrera

A collateral loan is a very useful resource to have at your disposal, mostly because of the many benefits and advantages that it can provide over a traditional loan. Collateral loans will require that you provide something of value when you take out the loan, such as jewelry, that the loan provider can keep if you are unable to repay your loan. Listed below are just a few of the reasons to consider a collateral loan.

Quick Access To Funds

One of the biggest reasons to consider this type of loan is that it can provide you with money in a short amount of time if you run into an emergency. For example, this is a great resource to use if your car breaks down unexpectedly or if you have an emergency medical bill to cover.

In most cases, you can simply walk into a jewelry store like Sol's Jewelry & Loan that provides collateral loans and simply drop off your jewelry in exchange for a loan in a few minutes. This is a big advantage over a traditional loan because most traditional loans will require that you wait for an approval process, which can sometimes take several hours or days. 

Multiple Repayment Options

Another reason to utilize a collateral loan is in order to take advantage of the multiple repayment options that are available. For example, you can choose to make a payment on the loan in order to extend your repayment time, pay the loan in full to avoid any potential interest charges and reclaim your jewelry, or simply forego repaying the loan entirely and allow the loan company to keep the jewelry that you provided. While surrendering the jewelry may not be an ideal choice if it is important to you, it is an option if you cannot repay the loan as you will not have to worry about collection activity on the part of the loan provider.

Low Approval Requirements

Finally, a collateral loan is a useful resource if you have poor credit and are unable to be approved for a traditional loan. In most cases, there are no requirements for a collateral loan beyond you actually providing a piece of jewelry or some other piece of property as collateral.

Many collateral loan providers won't even bother running a credit check in the first place. However, if the company does check your credit, having good credit may increase the amount of money that the loan company will give you in exchange for your collateral.

Contact a collateral loan provider today in order to discuss the many ways in which one of their loans can benefit you. This type of loan is useful because it can provide you with a quick access to emergency funds with low approval requirements while also offering multiple repayment options.