Peer to Peer lending is a burrowing services where instead of a financial institution, you obtain a loan from another individual. You will have to return the principal amount with interest. There are many sites that facilitate peer to peer ...
A credit score is a summarization of a person's creditworthiness in the financial market based on the financial behavior and credit history. Money lenders, including banks, credit card firms, and mortgage lenders, use it to determine the risk of giving a person a loan for money. Credit reporting comRead more
A credit score is a summarization of a person’s creditworthiness in the financial market based on the financial behavior and credit history. Money lenders, including banks, credit card firms, and mortgage lenders, use it to determine the risk of giving a person a loan for money. Credit reporting companies, often known as credit bureaus, create credit scores using the information from credit reports.
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Peer to peer lending is so risky for the lender. Most of them don't have security measures that will help recover the money if the borrower fails to pay it back. For the borrower, the disadvantage is that the loan limit is usually low. You won't borrow much money from the other peer. It also comes wRead more
Peer to peer lending is so risky for the lender. Most of them don’t have security measures that will help recover the money if the borrower fails to pay it back.
For the borrower, the disadvantage is that the loan limit is usually low. You won’t borrow much money from the other peer. It also comes with really high interest rates that could harden your pay back.
Personally, I don’t do peer to peer lending whether as a borrower or a lender. I prefer other loan taking methods.
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