n Higher Interest Rates: Due to the perceived risk, lenders often cost higher interest rates, which may make compensation more difficult.
Potential for Additional Fees: Some lenders could tack on origination charges, late payment fees, or prepayment penalties.
Risk of Over-borrowing: The ease of acquiring these loans can generally tempt individuals to borrow more than they will reasonably repay, leading to a cycle of debt.
It’s essential to weigh these elements carefully earlier than signing on the dotted l
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Navigating the Interest Maze
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Fixed Interest Rates
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