Why are lenders willing to give people with poor credit payday loans faster than a regular loan?
Written By: admin on September 15, 2009
One Comment
I mean a person can open and close a checking account quicker than lighting and you go into the credit bureau if you do not pay and the same thing happens with an unsecured personal loan. Why the risk? What is the difference? Terrible credit is terrible credit.
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The fees they charge are equivalent to a sky high interest rate. They are willing to take the risk that some will not pay because apparently there are plenty who do.