Debt consolidation is a common practice for people suffering from high amounts of credit card debt. It allows individuals to pool their debts, making a single payment, and receive a lower interest rate. Common forms of debt consolidation include second mortgages and moving the debt to a credit card. There is an option that appears that people find really interesting, perfect property investment crowdfunding through https://crowdfunding-platforms.com/real-estate-cro.
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Peer to peer lending is a form of microfinance or small personal loans. not from a bank loan, but the lender individuals. It was really the loans to the people. This is facilitated by a bank loan which is responsible for some aspects of the loan process.
There is less of a hassle to deal with the major banks. Personal loans are not a common thing for most banks and people often can be rejected based on several different factors. This leaves the individual to find another bank for a loan. The process starts again and I have the possibility to take a few tries before getting a loan.
The overall process takes with each trying to have to fill out the necessary form and wait for approval time. Peer to peer lending once approved as a borrower, you can instantly send you a loan. The lender found you and has the effect of sending your request to thousands of bank loans