There are horror stories all over about how payday loans and private money lenders but when faced with an emergency this type of loan can be a life saver in a time of need. Besides reading reviews on the internet, checking the Better Business Bureau website that are a few tell-tale signs that will show if the money lenders are running a replicable business or if they are just scamming consumers.
Every “moneylender” charges an interest rate whether it is a bank, credit union or payday loan lender and the interest rates will always vary. A bank or credit union loan will always have a lower rate because the criteria for the loan depend on the borrower’s credit score. The better the credit score is the lower the interest rate will be...read more