While it can be easy to qualify for short-term loans—even if you have a low credit score or limited income—many come with unfavorable rates and terms. The high fees and interest rates make it an expensive form of debt, and the short repayment terms can leave borrowers financially worse off.| www.lendingclub.com
Advance-fee loan scammers promise you a guaranteed loan after you pay an upfront fee—usually disguised as a processing, insurance, or application fee. However, if you know the warning signs, you can protect yourself.| www.lendingclub.com