INDIA PEER TO PEER LENDING WITH BAD CREDIT SCORE INDIA P2P LOAN WITH BAD CIBIL SCORE
In India, a P2P (peer-to-peer) loan with bad credit loan is by definition a loan offered by Indian investors through Indian P2P platforms to an Indian person whose credit score is bad and poor who is facing difficulties in having their credit demands approved by Indian conventional banks.
In India, a P2P loan with bad credit score is often the unique option that remains with Indian borrowers who have bad credit due to defaults on existing debts and for whom credit bureaus such as CIBIL (Credit Information Bureau (India) Ltd allocate a credit score in the range between 300 550 which is considered as bad to Indian financial institutions and Indian lenders.
In India, the peer-to-peer- loan with poor credit rating becomes for any Indian consumer an alternative to regular financing that is based on a good or acceptable credit rating determined by the level of debt, on-time debt repayment and bill payment habits.
In India, a P2P lending facility offers other advantages to an Indian borrower other than cash only because it gives access to a loan while traditional banks refuse it, it is approved like a simplified loan application with a minimum of documentation sometimes without document and finally it requires a flexible repayment plan.