Implications

PEER-TO-PEER LENDING

Accordingly, you can get a higher advance amount at a lower rate.

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Laurel Road review: Student loan refinancing

P2P lending websites, therefore, offer a dais to those with low credit scores. Who is eligible to borrow? You can now borrow money from others in a more organised and a structured manner using the peer-to-peer P2P lending platform. The eligibility norms can vary across P2P platforms but they mostly restrict it to individuals who earn a salary.

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But, those with no credit score before a low score could face issues. How does Affirm work? But you might have trouble getting another Acknowledge loan if you have a account of late or missed payments, after that this could affect your credit. Be concerned about Affirm if… You need to accomplish a purchase now. How is the interest rate determined? Even the bring to light of a single lender to the same borrower, across all P2Ps, shall not exceed Rs 50, and the maturity of the loans shall not exceed 36 months. No late fees.

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