Question

Describe the key things that set predatory lenders apart from other lenders. brainly

Answer 1

Answer:

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Explanation:

Predatory lenders are lenders that manipulate borrowers to take loans that borrowers will not be able to pay back easily. For example payday loans and so on. The key things that set predatory lenders apart from other lenders are the following;

===> They blackmail and threaten the borrowers if the borrowers are not able to pay on time.

===> They Target poor people, regardless of their credit problems. They know that these set of people can not afford to pay them back, but they know that they can use these people their advantage anyhow they want.

===> They will never declare the terms and conditions of the loans accurately so as to take advantage of the vulnerable borrowers.

Answer 2

A predator lender is a firm or individual that lends money to an individual or organization under unfair or abusive loan terms. They can manipulate the borrow to agreeing with their terms through deceptive, exploitative actions for a loan. In common cases, the borrow either doesn't need, want or can't afford the item/loan type but they are convinced they do.