Money Lending Advice
At BingoLoans, we are here to offer helpful borrowing advice using its innovative loan matching system. After entering your preferred loan amount and repayment dates, we’ll find you a lender. The transparency of our lending suggestions is one of our unique selling points. We pride ourselves with ensuring you make the most informed decision possible by comparing various APR rates from different companies. Here at BingoLoans, we won’t run a credit check on you but our lenders will. This ensures you are able to able to benefit from our best loans. For more money lending advice, see our faq or other helpful articles.
How Much Should I Borrow?
Finding the right loan value for you and your needs can be challenging. BingoLoans’ calculator takes your details and shows common rates for the values entered. We also show an example repayment illustration using the common APR our lenders offer. Always check the monthly repayments carefully to make sure you can afford to pay back. Once you apply for a short term loan, a credit check is completed to ensure you are a strong candidate for repayments.
Advice Lending Money to Friends
When it comes to borrowing money from friends, the main advantage of receiving a loan is that your “lender” is more likely to be flexible about payment arrangements. Also, when you borrow from a friend, you often can borrow 100% of the required amount and enjoy lower interest rates (or no interest at all). The most unfortunate part of borrowing from someone you know is that your personal relationship could be damaged permanently if the situation goes south. So, try to be 100% certain of the terms before asking those closest to you.
Lending Money to Family Members Advice
Private loans between family members are a convenient, flexible and cheap alternative to using loan providers. Many people in need of a loan will first approach relatives who appear to have money to spare, especially if the borrower does not have a good credit history, or is just starting out financially. This may be an easier way to access funds, if you’re unsure whether to borrow from a payday loan company first.
Can’t Make Your Repayments – What Can You Do?
It’s essential to make you select the right lender for your loan to avoid problems later on. BingoLoans always displays all of the facts and only deals with reputable lenders. Those lenders will make sure you fully understand the repayment terms of the loan before you sign. Should you fall into any difficulty paying back your loan, it’s important to get in contact with your lender as soon as possible for debt advice. They will help you find a balance that means you can repay your loan. Failure to meet repayments can have an impact on your overall credit score and may lower your chances of being accepted for a loan during your next credit check.
Before borrowing any amount of money, it’s always a good idea to triple check your ability to make repayments. Short term loans should stay just that, quick to access and offer a relatively short payback period.