A financial situation of an individual is largely affected through his or her credit score. If the score is good, then every lending institution is ready to serve the loan. On the other hand, a bad credit score often ruins the chances of getting financed at the right time. Only a few lenders can provide the assistance and most of them are the direct lenders.
For the last few years in Ireland, there has been a debate going on that whether direct lending is more suitable or traditional lending is still more reliable? However, by looking at the recent scenarios, it has been found that the direct lenders have made a huge impact at the marketplace especially when they are being flexible in providing loans for bad credit people. They provide these loans on the features like:
- Competitive interest rates
- Flexible repayments
- Online application procedure
These features are enough to attract anyone to borrow the funds on the lenient terms and conditions. It is natural that everyone would like to approach the direct lenders in comparison to the conventional ones.
The Factor of ‘Instant Decision’
One thing that you must know about the direct lending is the factor of ‘instant decision’. It certainly makes it different from the traditional lenders. For example, the direct lenders have especially advertised their products as bad credit loans instant decision Ireland. And the main thing is that Irish people are indeed getting the positive outcomes with such finance products.
In the end, direct lending has its importance and no one can deny it. At the same time, it cannot take the place of traditional but more reliable lending practice.