Licensed Money Lender Personal Loan Toa Payoh
Toa Payoh is mainly a residential zone, though there are still some sights to behold. You can relax and enjoy the scenery at the Toa Payoh Town Park located near Toa Payoh’s bus interchange.
If you want to go back in time to imperial China, you can pay a visit to Lian Shan Shuang Lin Monastery. Relieve the old days with the great architecture of the past.
Those are just among the many things that make Toa Payoh an amazing place to live in.
Why moneylending services are important?
Money lenders will allow you to get out of a bind when you don’t have friends or relatives that can lend you money. They will allow you to purchase an expensive item or be able to afford expenses like a vacation, wedding, etc without saving money for it.
However, not all money lenders are licensed by the Singapore Ministry of Law.
You must be vigilant in spotting them if you are going to take out a loan with a money lender.
A Guide on Identifying a Loan Shark
In this section, we will discuss some of the characteristics of loan sharks.
1. Present little if any documents, like a loan contract or history of payments. They also do not have the necessary permits and licenses to operate.
2. You are imposed with interest rates that are higher than the normal interest rate in the loan market.
3. You will be pressured into loaning more money than what you are asking for. Their offer is great at first glance, however, it is really just to exploit you into a debt trap.
4. Hides some charges, fees, and other extra payments in the fine prints of their terms and conditions. Loan sharks will normally refrain from mentioning those unless you spot it.
5. A loan shark might dissuade you from fully paying a loan if you want to fully pay it. They might offer you a new loan as soon as you pay up your first one. This is to keep you paying interest, which is in line with their tactic of keeping you in a debt trap.
How to tell if a money lender is legal?
Any licensed money lender has the proper permits and licenses from the government to operate. If they cannot show you one, they are probably operating illegally. As such, you should ask to see their permits and licenses if they do not display one in their office.
Why choose 365 Credit Solutions
As stated above, a good money lender will not hide hidden charges in the fine print of their terms and conditions. 365 Credit Solutions is known for explaining all charges and fees in detail, making sure that you will not be surprised by any unexpected charges.
Apart from that, they also have a good number of testimonials on their website and a high rating on Loan Advisors. If you are interested in getting a loan from 365 Credit Solutions, visit their website today! Alternatively, you can contact them via telephone at 6222 5500.
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