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The posts in this thread seem to deal pretty much with just the funding side (I have not read the entire thing). But I am curios about the borrowing side. What type of loan applications do you guys see, like what are people ostensibly borrowing this money for what kind of credit worthiness is there? I looked at it briefly but it seems as though its not a great avenue to borrow if you have really good credit like myself. The lowest rates I can get on here are 6.8%, But I can borrow unsecured money for substantially less than that through traditional routes. So, who is using this? Is the process just easier? Or is there a perception that default is less of a problem here than with a bank so it is less risky? I am just curios if there is any insight towards that side of the equation.
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Apr 29, 2014 15:33
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| # ¿ Apr 28, 2024 23:55 |
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Saint Fu posted:The vast majority of loans are for debt (typically credit card) consolidation. Well, that makes a ton of sense I guess. I can see where consolidating that at a lower rate is difficult, other options for it would most likely be Balance transfers to a new card, which have a transfer fee and relatively short low interest time frames, or home equity lines. This would be a much much simpler method to control that kind of consumer debt.
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Apr 29, 2014 15:56
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