It is very difficult difficult for the poor to access loan easy because the bank will first to all look at the person’s net-worth, look at his or her bank information, check the amount that has been deposited into that account so to assume the strength of the business but after checking all this things they will say that you are not qualified
You have said it all and that's the truth. Even personally I might not give a large amount of money to the poor. Looking at the person’s net-worth is very important, They are people I know that gave their money to the poor and till date can't recovered it. They wouldn't be able to pay. So if you areRead more
You have said it all and that’s the truth. Even personally I might not give a large amount of money to the poor. Looking at the person’s net-worth is very important, They are people I know that gave their money to the poor and till date can’t recovered it. They wouldn’t be able to pay. So if you are giving your money to the poor know that it is money that you have about 50% of recovery.
See lessYou can get a loan only when the lender is assured that you can pay back. Would you lend money to someone who cannot pay back? Well, that's the same case with other lenders. Poor people do not have resources to pay back, therefore, they have difficulty in getting a loan. Even if the poor people canRead more
You can get a loan only when the lender is assured that you can pay back. Would you lend money to someone who cannot pay back? Well, that’s the same case with other lenders. Poor people do not have resources to pay back, therefore, they have difficulty in getting a loan. Even if the poor people can show resources to pay back they might not have colleteral and having a colleteral is very important to get a loan
See lessIt's because they're not credit worthy, if your account is floating in negative most of the times it'll be incredibly difficult to access loans, because banks also take a look at your credit, and determine if you will be able to pay back. Most poor people can't pay back loan that's why, they are fulRead more
It’s because they’re not credit worthy, if your account is floating in negative most of the times it’ll be incredibly difficult to access loans, because banks also take a look at your credit, and determine if you will be able to pay back.
Most poor people can’t pay back loan that’s why, they are full of excuses and might end up written off as a bad debt.
See lessI think there are several reasons why poor people are not good to collect loan like, Many lending institutions require collateral, such as property or assets, which may be out of reach for those who are financially disadvantaged. Individuals with low incomes may have difficulty establishing and mainRead more
I think there are several reasons why poor people are not good to collect loan like, Many lending institutions require collateral, such as property or assets, which may be out of reach for those who are financially disadvantaged.
See lessIndividuals with low incomes may have difficulty establishing and maintaining a positive credit history, making them less attractive to lenders.