Credit cards save you both time and efforts, when you use them for shopping, and other purposes. You can use the cards to buy both – goods and services, online and offline. The cards also offer you the credit facility, so that you can buy a necessity now, and pay for it later.
Credit Card Loans
Your financial position may go wayward anytime in life, and you may find yourself overburdened financially, because of the credit card payments and loans. Unknown circumstances are many-a-times behind these financial irregularities that many of us undergo in life.
Peer to Peer Lending
On the positive side, not everything is bad when you are engulfed by a heavy credit card payment. There are the reputed peer to peer lending websites in India (including LenDenClub), which offer you any amount of loan that you can use to repay your credit card dues. The loans are the ideal financial packages that help you resolve your stress, and have peace of mind once again.
How P2P Lending Solves Your Financial Stress
P2P lending offers you loans on the basis of fixed interest rates so that you can use them for clearing any of impending dues, including the most threatening ones. A number of investors add the consumer debt to their financial portfolios, in order to have a more decent and better profile. As the competition is high amongst the competitors, borrowers can easily choose from amongst them, and get a loan at lower costs.
P2P loans are a lot cheaper in comparison to the credit card loans. While you need to have a reliable financial profile to get a P2P loan at lowest interest rates, it is granted to you even if you have a low Cibil score. You can also get the benefit of long term loan repayment. This means that you can repay your loan in 2, 3, or even more years, depending on the conditions set by your loan lender and the negotiations. You can repay the loan in a single installment, or in smaller amounts, monthly, quarterly, or yearly. The flexibility of repayments makes the P2P loans even more “borrower” friendly. Your interest rates remain fixed throughout the repayment duration. Hence, you can easily enjoy the financial benefits of repaying your loan on the interest rates you desire, over a long period of time. No other financial scheme can offer you these many benefits.
Do your research
Online lending is cross-checked, and the borrowers have to undergo certain credit checks in order to get the money. In LenDenClub Borrowers are a checked on their personal, professional, personal, credit history and social backgrounds as well, and are rated according to their risk profiles. You should analyze the different borrower profiles fully, before lending the money. Repayments are easy and convenient when you lend your money to the more secure profiles.
While the P2P loans cannot solve the underlying financial defects that have landed you in the anxious situation, they do solve your financial problems, at the best terms. LenDenClub enjoys wide popularity across India and has emerged as a leader in the P2P lending segment, connecting thousands of lenders and borrowers. The deals are lucrative for both the parties, and the fee involved is so minuscule that you would not even need to bother about it.