FinanceCreditLoans
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  • Before you decide to borrow money, you want to plan out exactly how you are going to do it. You might want to ask yourself several questions, such as how will you pay back the money you are borrowing? Different money lending systems will require different information depending on the company.

    Peer to Peer

    If you are interested in borrowing money from a peer-to-peer lending network, there are several requirement that you must follow. You must be a U.S. resident, have a FICO score of at least 660 and your debt to income ration should be less than 25 percent.

    Credit Cards

    Money from a credit card is the most common way to get cash quickly, according to theigeratelife.com. Technically, whenever you use your credit card you are taking out a loan, so throw the card away if you can't trust yourself to use it properly.

    Bank

    If you choose to get a personal loan through a bank, you will have to decide on several issues. This will require you to fill out paperwork and an extensive report of your credit history.

    Family

    If you are close with your family or a good friend, you may consider borrowing money from them. If you do so, it is important to arrange a payment schedule so that you do not consider the loan a gift.

    Payday Lenders

    If you need cash quickly or if you have bad credit scores, you might need to get money from a payday lender. However, the fees that you pay to these companies are incredibly high.

    Source:

    theigedratilife: How to Get a Personal Loan

    More Information:

    PayDay Max.com: Personal Loans

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