Borrowing from private persons – do it with your head!
Private installment loans – are for everyone
There are special installment loan websites that help you find and get a private cash installment loan.
Of course, they charge a commission for it, usually from the borrower, who first needs to make calculations whether the private installment loan itself via a website will not cost it more than one from a credit institution. They operate on the basis of betting or specific offers made to specific people. This is a much safer solution because users offering installment loans are checked by the installment loan service.
You can also check the number of transactions of a given user yourself and in this way verify its integrity.
Who will take more – a bank or a private person?
At the outset, it is advisable to ask yourself whether it is worth borrowing money from people. Everyone who grants private installment loans sets the interest rate, the amount of commission and the cost of such a installment loan. Therefore, it is necessary to carefully analyze whether the preferred solution will not be a cash installment loan from a specific institution, which in the era of struggle for the client, have very favorable offers, tailored to the needs of borrowers.
Caution with a private installment loan, first and foremost!
Very often, individuals who advertise on discussion forums with a financial theme are ordinary fraudsters. First they expect contact from people who want to borrow money, and then trick them into extorting from them the so-called “own contribution” in the amount set by them, and then they leave the virtual contact.
Remember to verify the person who is announcing in such a forum. The opinions of other users are definitely the best indication here. If anything disturbs you in the offer of such a person, do not risk or pay your own money to anyone, because no one will pay them back and instead of getting cash for your own needs, you will gain additional debts.
Private installment loans
There are also situations when the offers of persons who are allegedly private are based on the employees of banks or credit institutions, who in this way try to recruit a new client.
In the course of correspondence (usually electronic), they give a credit solution, which is the offer of a specific company.
Remember that your own calculations and estimates of how you will pay off your financial commitment are key.
It may also turn out that a private person speaking on the discussion forum is an independent financial adviser. Then, for every advice, you will be required to pay, regardless of whether you finally get a installment loan from an institution or not.