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However, it's important to be cautious when borrowing from an alternative lender, as the online fees and interest rates may be higher than those of a traditional lender. Be sure to review the fl terms and conditions of the loan carefully before you agree to them. For example, if the bad borrower has a credit limit of $10,000 but only borrows $1,000, they will only pay interest on the $1,000 that they borrowed.
They offer a predictable payment schedule and often have lower interest rates than other types of loans. More flexible repayment terms: Credit unions may be more willing to work with you to find a repayment schedule that fits your needs and budget.