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By: William Houston

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Friday, 18-Mar-2011 22:07 Email | Share | | Bookmark
This Little Known Secret Will Get You Out of The Vicious Quid

Many People with bad or no credit use Quid loans to obtain through a short money flow disaster. These Pay Day loans often charge 10 to 20% per week. People to People Lending a New business on the Internet can help you obtain out of the Pay Day Loan Merry Go Round.
People to people lending is public sale like online loan service. It was created by the founder of E-loan. The Concept is very easy it is people helping people. It enables borrowers and lenders to free themselves from the Mercy of the Bank. Why place your cash in the bank at 5% or less only to have them loan them to credit card users at 20% or more.
People to People lending gives you the aptitude to lend the cash directly to those who need it at rates of return from 7% to 25% or more based on the Credit rank of the Borrower.
As a Borrower you can request any amount you want from $1,000 to $25,000. You also choose the interest rate you are willing to pay. They do have interest strategy they suggest that you use based on the loan amount and Credit Rating. A person with an E-Rating which is one of the lowest ratings wanting to borrow the minimum of $1,000 should anticipate to pay between 20 and 25% interest. This is for a completely amortized 3-year loan with no prepayment penalty. You would in fact pay less then $40 a month for a Thousand Dollar Loan at 25%.

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