WEAR ABC 3 - Search Results
Facebook friends could stop your loan process
Your friends, maybe keeping you from getting a loan!
That's right, some start up lenders are now judging you based on your social media friends.
They are now using social data to determine the risk of lending to people who have a difficult time accessing credit.
One company called Lenddo -- looks at these social connections and determines if your friends on Facebook are late themselves paying back a loan of their own.
And they say if you are friends with someone who is trustworthy and reliable -- chances are you will be too.
So this of course gives new meaning to choosing your friends -- especially your Facebook friends -- wisely.