If you have bad credit and are considering an installment loan, it’s crucial to assess your financial health and explore your options carefully. Traditional lenders may be less accessible, but online platforms like peer-to-peer (P2P) lending and credit unions offer alternatives that consider more than just your credit score. Professor Tengfei Zhang highlights the importance of thorough research to avoid predatory lenders and suggests focusing on building your credit first if needed. Zhang also advocates for easier access to loans for those with poor credit, emphasizing the role of responsible borrowing in improving financial health.
Read the full article for more of Dr. Zhang’s helpful and wise words! https://go.rutgers.edu/x0vfzsbj