Lending to an insolvent may seem like throwing good money after bad, but if it is such a terrible idea why are there so many loan sharks?Zerocredit_UK believes there are always emergencies you cannot immediately finance so you need a backup. After saving for three to six months, most Credit Unions allow you to take out a small loan, usually around three times what you have saved so far – so at £20 a month that's two or three hundred quid. Rates are very reasonable too and certainly not the 400% plus APR peddled by sub-prime lenders. http://www.abcul.coop/page/about/borrowing.cfm
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