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You also have to make this repayment in a very short time frame usually within 2 to 4 weeks of receiving the loan.
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The downside of this type of loan is that they are considered to be high risk by the lender so the interest rate is typically very high and you can end up re-paying the loan amount plus a further 10% to 30% of the loan total in interest.
It is so because with your assets available handy, lenders find themselves in a secure position and that’s why they allow you to negotiate with them.
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