I guess I am blessed never to borrow money from other people other than my parents while as a student in a university and always pay my credit card bills on time the full amount. I am now earning a comfortable income working for a friend in his sports building business and blogging part-time.
However, if you find yourself needing emergency money for whatever reason, you may consider this new system. Zopa (Zone of Possible Agreement) is a peer-to-peer investment/loan system where people borrow from, or lend to, other members of the network (cutting out the need for a bank and their profit margins). Presently running in the UK, it is soon to launch in the US and is set to be the in-thing for money lending and borrowing.
This online investment has a few criteria such as having a good credit history, good record of repaying debt and an annual income of a minimum of 25,000 pounds sterling.
This is a safer online borrowing system than approaching loan sharks who may threaten your life if you default on payment or unable to pay on time consistently. Moreover, the local loan sharks charge exorbitant interests rates and certainly scare off potential borrowers unless you are so desperate and don’t have any other choice.
Technorati Tags : Zopa, online loan, online investment
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[...] This is the second part of Zopa as mentioned earlier, an online investment/loan system. You can borrow money from real people, not banks that charge high interests rates. The people who loan out money or invest in Zopa will be able to earn while the borrowers with good credit standing are able to use the cash for their necessary needs such as to further expand their businesses or go for the long-awaited holidays. [...]