Monthly Archives | May 2017
Posted on May 8, 2017 | By Stacey Perez
Lifestyles are changing world over. People are always looking to outdo one another in every aspect of life. They want to always have something better than the other person. In their hunt for the place of top dog they tend to overlook tiny details like can they actually afford to participate in such a race. Is there salary enough to support them through the race and make them emerge winners? Or is it going g to let them down half way through and make them the laughing stock of the show. More often than not the latter turns out to be the case and people end up having to make hasty exit from the race in order to prevent embarrassment.
And more often than not people find themselves in trouble by the time they are making their exit. Because they have turned a turned a blind eye to the building debt that they have preferred to ignore to their bid to outshine the other people. And they find that cash loan in Singapore is the only solution to their problem. And this is the point when they turn to the informal financial sector made of moneylenders who can provide fast loans to people in desperate need of money within a short period of time.
Such a licensed moneylender becomes the solution to the desperation of most people. Because those who are in debt more often than not always tend to push the problem to the back of their minds when they have the time to look for the best solution provider and when the date that they have to repay the loan comes closer is the time when they start looking for answers. And by this time it is very often too late to try and get some help from a bank, so a moneylender is the only way for them to go. And most of the time the people who are in such a hurry to get some cash are the people who cannot provide the necessary security that is required by banks in order to obtain a loan from them and they don’t have the records to prove that they will be able to pay the loan back on time. So this helplessness tends to push them in the direction of such moneylenders.
But what most people tend to overlook is the high rate of interest that such people charge for the money that they lend. It is ridiculously greater than those of banks and is actually an added burden on those people. But they justify this high rate of interest with the risk they are taking by giving money to people with no backing up, like banks do. And I guess everyone has to have a trick of the trade on order to survive and become a success.