Why High Risk Loans?
Because other lenders will not even consider lending money to a person with a bad credit score. Only specific lenders are willing to lend high risk loans. Rules There are certain things that come by default with high risk loans. You simply cannot have high risk loans without these things. One of them is high interest rates. Do not even think that you are going to get interest rates that a person with good credit scores would get. Since there is the risk involved, lenders compensate for that by charging high interest rates. The other fees and charges may also be more than normal loans. Another thing that is typical of high risk loans is low amortization periods. While ordinary loans have term periods which extend as much as 25 years, high risk loans have a maximum term period of 6 to 7 years. The lender takes into account each customer’s personal and financial conditions before deciding on the loan amount and the interest rates. A person with even a slightly better credit score might ge
