Below mentioned list shows the significant risks of _______________.
Borrowers with cash-flow difficulties
Borrowers with no lower-cost credit alternatives
Minimal analysis of borrower's ability to repay the loan
Minimal review of borrower's credit history
Credit is usually unsecured -
The characteristics listed—borrowers with cash-flow difficulties, borrowers with no lower-cost credit alternatives, minimal analysis of borrower's ability to repay the loan, minimal review of borrower's credit history, and credit being usually unsecured—are indicative of payday lending. Payday loans are typically short-term, high-cost loans designed for people who need cash quickly and have few other credit options. These factors can often lead to a cycle of debt for the borrower.
The payments will gratuely comes on time
The characteristics listed—borrowers with cash-flow difficulties, those without lower-cost credit alternatives, minimal analysis of the borrower's ability to repay the loan, minimal review of the borrower's credit history, and credit being usually unsecured—are indicative of payday lending. Payday loans are typically short-term, high-cost loans designed for people who need cash quickly and have few other credit options, often leading to a cycle of debt.