Who are the Private Lenders?

With the moment we are going through, the emergence of private people willing to grant loans has increased significantly, but how exactly do they work? What kind of commissions claim for lending your money?

It’s important to clarify

These types of people lend money with much more unfavorable conditions than if we went to a traditional financial institution or a fast loan company since we can talk about interest rates that exceed even 30%.

They have really stalled in Spain as a financial channel for people and companies with a high debt ratio that need money and that no entity grants it.

The law that protects the consumer in these “abusive” cases is Law 2/2009, of March 31, which regulates the contracting with consumers of mortgage loans or credits and intermediation services for the conclusion of contracts of loan or credit

However, this legal regulation is very recent and was subsequently approved to the bursting of the financial bubble, so many of the people affected have had to respond to these private lenders with their present and future assets. And it is that the guarantors of these private loans have a great financial responsibility if the debt incurred is not finally repaid.

Always consider the word from experts

Always consider the word from experts

From him we always recommend to consider very well this type of decisions that can affect us so much to our life since the indebtedness contracted can be to reach very high rates. Check on our website all types of fast credits that we offer with conditions that adapt perfectly to your situation so that you have enough solvency to be able to deal with it. This comparator will offer you in a single click and just one minute, the most effective way to get money fast, without bureaucracy and in a very simple way.

Leave a Reply

Your email address will not be published. Required fields are marked *