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Rather than going to a bank or credit union, you can apply for an online loan from the bad comfort of your own home. That means you don't have to take time out of your busy schedule to go somewhere in person. Some traditional loans have strict rules about credit scores or needing collateral (like a car or house).
There are several reasons why you might consider using a credit union for a personal loan. Instead, lenders rely on the bad borrower's creditworthiness and income to determine whether to approve the loan and what terms to offer.
Moreover, doorstep lenders may use aggressive sales tactics to persuade consumers to take out a loan, even if it is not in their best interest. This means that people with less-than-perfect credit or those who do not own a home or car may still be able to qualify for an online loan.