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Thanks to the internet, borrowers can meet individuals who want to lend money directly to other people. (This is known as "Social lending.") The amount of the loan, the rate of interest, and the repayment terms are all negotiable.
A few reputable sites to consider are:
- www.LendingClub.com
(you must have good credit rating) - www.Prosper.com
- www.zopa.com
It is advisable to only use sites which are reputable because you will be required to enter your personal financial information as well as the reason for the loan (which may disclose your health condition).
It is worth keeping in mind that there is also the moral risk that the lender will be a person who uses extra-legal physical means if a loan is not repaid in a timely manner. Thus, it is advisable to learn as much as you can about the lender.
If you can borrow money from family or friends, look at our article about how to approach people who are close to you, what to say, and how to evidence the debt. You can also use a sitre such as www.VirginMoneyUS.com which records the loan and automates the process.
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How To Borrow Money From Family and Friends
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