About I Need a Loan

Imagine that you sit at the small loans desk at the local bank. A well-dressed customer walks up and asks to borrow $5000; ” I need a loan “, he says; “I need it to pay off my credit card debts, and I’m willing to pay you 20% on this loan”. He does have reasonable credit, but something about the situation doesn’t make sense to you.

If he’s paying 20% interest just to pay back another loan, how is this even help them save anything? Maybe this is how you would think sitting behind a desk at the bank, but apparently, if you are on the Internet looking for a place to park your spare cash, you’ll just give it to anyone who asks just because he promises to pay you 10-15% interest, which you figure is twice what you would get on the stock markets.

Read rest of article I Need a Loan