Answer: -Don't go for single man private lenders And don't give any money like transfer fee or any other thing for the loan. Check the rate of interest before you go for one. -There is a great place to go with this. I was in a very similar situation.This is getting help from real people without the use of banks or credit card companies. -Don't go there.If the person is not a trusted friend or family member stay away from these transactions.They are "Loan Sharks".They prey on desperate people! -Insecure always, its best, if you loose the ability to pay it, then it only goes to collection which is bad enough.But if you secure it.. they take what you used as collateral.