4 Top Tips For Borrowing Money

There are lots of companies in the UK that offer money borrowing services. Whether it’s for the honest cause of helping others, ligation funding for a legal dispute, or purely for personal financial gain, they can be life saver to some people in times of a crisis. In this article I am going to be taking a look into services that let individuals borrow money for different reasons.

Small Loan Companies

WoodsfoodCompanies such as Provident and Greenwood offer small loans to people who are struggling for money. They offer their services to pretty much anyone as long as you can prove that you can pay the money back. You can borrow up to £500 from these small companies but could suffer when paying back double the amount over a year long period.

Instant Loans

Quick Quid and Wonga are the types of company that lure desperate people in, when in reality they should be avoided. They offer quick loans with a promise of the money being in your account in as little as 10 minutes. These types of businesses services do exactly what they say on the tin, but they don’t exactly highlight the small print. You could end up paying back as much as 10x the amount you borrowed in extreme cases.

Large Loans

Whether it’s a mortgage to pay for a house, a business loan, or something personal such as cosmetic surgery, some banks do offer money borrowing services. They usually require you to have a proportion of the money yourself and they will top up the rest. You should always be loyal to these firms and if borrowing from a bank, make sure it is the one you are with as sometimes rewards are on offer to established customers. Bank loans are often low in APR if you a loyal customer.

Litigation Funding

Are you in the midst of a court battle but are struggling to generate the resources you need? Litigation funding could be the answer. Litigation funding is when an established litigation funding company look into your claim and offer your both legal and financial support in exchange for a slice of the winnings. Previously, litigation funding, as well as funding for arbitration cases was difficult to get hold of in the UK but is now available from a number of  ligation companies such as Wooodsfood Litigation Funding.

 

 

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