Private Money Lenders
A poor credit rating is often associated with many hardships. A person with a poor credit history and a really bad credit score may not be able to qualify for any loans from banks or conventional lending institutions. If the person is in urgent need of fast cash, he may try for guaranteed high risk personal loans. In such cases too, he must fit into the eligibility criteria. If he cannot, there are very few options left to arrange the required finance. He/she may either borrow from friends, relatives or neighbors, or approach private money lenders.
While those with a bad credit rating approach private lenders for loans; there are some borrowers who take loans from such lenders, only