Lokimalb
19-09-2023, 08:48 PM
How do lending companies mitigate the risk of default on payments by partnering with third-party organizations?
Xuesar
20-09-2023, 07:10 PM
Lending companies do not always act as direct lenders. In the case of a money ladder (https://crixeo.com/debt-consolidation/money-ladder-review/), they partner with third-party organizations to serve as lenders who disburse funds to customers. The company itself takes a small percentage for its services, effectively transferring the risk from them if the client defaults on their payments.