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How To Manage Debt Consolidation

Following the economic challenges over the past few years. In addition to nearing government shutdown. Most Singaporeans have moved from having manageable debt. At present, it is gone to minimum unmanageable debt. Debt for some has spun out of control. Having a manageable debt means that a borrower is able to repay their debt. At the same time, they remain financially solvent.

Oversplurging on Credit Cards

Sadly, most Singaporeans with debt issues depend on credit cards. They also choose to use short-term loans, disregarding the existing issues. In some instances, they simply are not able to pay off their bills. This is without using these means. However, this leads to interest repayments that suddenly get out of control.

To most, this spells a financial trap which ends badly. Thus they find themselves facing unmanageable debt. However, when you look for a solution for your financial problems. Yet, fail to address the main causes of debt. It will only result in your getting into more debt in future. This comes about because when debts are merged into one loan.

All credit cards, as well as other newly accessible financial options, will be leveraged again. This starts the very process that brought about your seeking help. You will find yourself facing debt all over again.

Professional Consolidation Loan

Professional consolidation services are one of many reasons why many seek this option. This loan product not only offers the necessary resources. It offers help for borrowers to get rid of debt. More importantly, this option will help you address the main cause of the first debt. It is important for you to realize that all these services are not equal. Different providers will offer many varying service terms.

When you choose to use online resources to review the best debt consolidation loan. It will provide you with a complete list of the offers from different companies. It will also show the products they do not offer. It will include how a borrower should go about the process.

However, realize that there is a lot involved in debt management. This is beyond review companies and what companies offer. Each moneylender may have particular areas that make them stand out. This includes the methods they apply to help borrowers manage debt.

Above all, licensed money lender in singapore have best practices that they should follow. As you review and consider the companies, ensure that you thoroughly examine each. At the same time stay away from any lender that will promise instant results.

The best place for you to start is asking yourself these three questions:

Are You Committing Assets To Consolidate Your Debt?

This may be the most crucial consideration. Like it can happen in some situations. It is possible for you to provide your home to consolidate debt. However, you should not take this step lightly. Although the interests are relatively low at present. However, using your home to guarantee unsecured debt is a risky move.

A responsible debt consolidation lender will only bring this option as the last resort. They will also ensure you keep at least 20 percent equity for your home. This is after you have taken out a credit line or even a second mortgage. At the same time, you still have to be open with your money lender. The intention is to ensure you do not incur penalties. Additionally, you do not incur unexpected fees.

Is The Lender Presenting Debt Consolidation As The Cure-All?

When a lender does this, then it is best you avoid them. Consolidating your debt involves a lot more than just merging all your debt. This is also about evaluating the grounds for your debt. It also has to do with getting counselling. It involves helping in understanding ways to avoid situations that led to the initial debt. Therefore, be careful with the lender you choose to work with.

Is The Moneylender Charging Unreasonable Fees?

Most providers do not anything different. That is from what the average person cannot do. However, they have the experience and connections. This is what allows their borrowers to merge debt more effectively. They at times also offer them better rates.

Keeping this in mind, the total rates charged by the lenders need to be manageable. They can come in the form of interest charged on personal loans. Or they can be upfront fees. Importantly, take a keen note of the total fees and interests of the consolidation loan. It should not exceed the overall interest of all debts you want to consolidate.

For instance, $10,000 credit card debt accruing 18% interest. When repaid using the minimum payments each month. It will take you 28 years and 6 months to repay. Within that period you will have paid $14,423.30 total in interest. This will bring your sum of principal plus interests to $24,423.30. The combination of payments, fees, and personal loan interest should not exceed this.

Actually, often times this figure needs to be substantially less. Consolidating the same $10,000 debt attracting 10%. Having a monthly amount of $250 paid for your loan. This will lead to the whole debt getting repaid in only over 4 years. And you only pay about $2,200 in interests. This will save you over $12,000. This is what you need to expect from any suitable consolidations company.


The above-mentioned considerations are 3 very important questions. Especially as you look into any type of loan for debt consolidation. However, there are more. Although there are some unscrupulous lenders in the market. Most of the moneylenders are transparent and dependable. Most will offer you access to bargaining and negotiation. This is one thing that most borrowers might not know about. Also, the ideal debt consultant will offer borrowers free consultation. This allows you to take concerns and any questions concerning their recommendations to your lender. You can also check with a certified financial advisor. In so doing you can get a sound second opinion.

Growing and maintaining your credit is not easy. However, managing excessive credit is equally tough. Through careful consideration of the options will help you make an informed decision. You will get to maintain a healthy credit. At the same time, you will to your finances will stay in order.

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    What Does It Mean To Have “Bad Credit”?

    When lenders talk about borrowers with “bad credit”. What the actually mean is borrowers with high credit risk. Or, this means that a low credit rating signifies a bad credit. ( The credit score is the number that lenders use. This is for measuring the level of risk a borrower might be).

    Normally these individuals have a bad credit score for different reasons. This could be that they owe a large loan amount. It can also be that these borrowers did not manage to pay promptly in the past.

    Difficulty In Getting Loans

    Owing to this, these borrowers will have a more difficult time to get loans. This will mean they might miss opportunities to get the suitable loans available. This is because their loan choices are limited. This is because of their bad credit record. This will often affect the perception of money lenders. This will make them question the borrower’s ability to pay off a loan.

    Even then, It is very important for you to manage your credit rating. The reason for this is because it will affect impact your being able to get personal loans. Without having a good credit rating. This will mean your chances of qualifying for a loan are much reduced.

    It is for this reason why you should protect your credit score. This you can do by making on-time payments. You should also avoid any situations that might seriously harm your credit well-being.

    Unavoidable Financial Situations

    Unfortunately, it so happens that not many Singaporeans can to do this. This is because of a number of unavoidable situations they face in life. For example, medical emergencies or being retrenched can cause you great concerns. This is especially as far as your finances are concerns.

    When such things occur, you will have an urgent need to get some extra cash. This amount is meant to help you manage your personal expenditure. But by having bad credit can prove to be a challenge. This whole process of acquiring a personal loan can be tough. This when you wish to get the loan from licensed moneylenders and banks in Singapore.

    Possible To Get A Loan?

    Even when you are faced with such a tough situation. Do not give up as yet. Realize that it is possible for you to access a loan. Even for someone who has bad credit. The important thing for you to do is start rebuilding the credit status. This will help you get in control of your own finances.

    Actually, there are many different types of loans available for individuals with bad credit. Therefore, be sure to do lots of research work before you request for a loan. This will help ensure that you locate the lending option for you.

    The one major disadvantage of this type of loans is their rates of interest. This is because they are normally very high. That when you compare them to the normal bank loans. This means the loans offered to borrowers with healthy credit scores charge lower interest. Even then, these loans have some positives as well.

    For instance, few moneylenders offer borrowers with low credit loans. This opportunity allows them to work alongside a co-signer. This needs to be someone who has a healthy credit record. In so doing, the borrowers are in a position to access a loan. This loan will often come with a lower rate of interest. This is much lower than what they can get with no cosigner.

    Also, when your credit rating is very low such that you do not qualify for an unsecured loan. There are a number of moneylenders who might offer you the secured loan. Under such a situation, you could consider using your car, for instance. This will help you secure this loan.

    Be Aware

    Be careful when you are seeking a loan with bad credit. At times you might find you are trapped in bad credit scam. Be on the lookout for the following:

    • Money lenders who will pressure into making a deal. This is especially before you get to consider all the options available;
    • Lenders who will ask for money for you to fill a loan request (that is illegal);
    • Lending companies that pressure you to share your personal information. This is especially those that insist you do so over the phone;
    • Finally, always ensure that you are dealing with a legal and licensed moneylender.

    Things To Consider Before You Apply For Loans With Bad Credit

    You will need to keep the below-listed guidelines in mind. This particularly when you would like to get a loan:

    You can start off by analyzing how you got into the situation. Do this ahead of actually applying for a new personal loan. By doing this it will help you in finding a lasting situation. This is because you avoid making the same mistakes. More so after you have taken this new loan.

    By looking into the bad credit condition you get to analyze it. You can also see whether you are able to settle the new loan.

    This will allow you to ensure that the new loan does not aggravate your score. Considering it is is already in a bad state.

    You constantly need to take small steps towards enhancing your creditworthiness. This is essential to ensure that the creditworthiness is growing. This is because lenders will confirm if you actually are making attempts. These are aimed at making your credit score better.

    Ensure that you start making timely payments on all your bills. Do this before you apply for the new loan.

    You have to stop stressing about the bad credit record. It’s fine that you made wrong choices concerning your finances. All you should do is rectify them step by step.

    Avoid applying for several credit options. By now you are aware of the consequences of such actions.

    Ensure that you keep consistency as you follow the above-mentioned strategies.

    In conclusion, ensure that you always evaluate all available loan options. That should be before you apply for any loan. You need to try and find a moneylender who understands your needs. Importantly ensure the lender is certified.

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      How To Deal With Loan Sharks

      If you have had trouble in the past dealing with loan sharks. Being pressured by fraudulent lenders can be stressful. This is especially on a financial level. This article will look at some guides on the basics of handling loan sharks.

      In Singapore, loan sharks are unlicensed moneylenders. These lenders usually illegally offer personal loans. They mostly provide loan money using unfair terms. This includes things like exorbitant interests.

      Since loan sharks are not bound by law. They often tend to be unscrupulous. Loan sharks even use violent harassment methods. This is a way to make you pay back your debt.

      Ways of Spotting a Loan Shark

      Usually, loan sharks start out by being friendly. When you continue to promptly make repayments. They could stay this way. However, the reality remains. Even when you do, all the loans you take often come at high a price. To help you spot a loan shark, you will notice:

      • Your debt has increased or they might add extra charges without notice.
      • These lenders provide almost no paperwork. This is documents like loan agreement and also a record of payments.
      • They get nasty towards you. These lenders might turn to threats, intimidation, or even violence.
      • Loan sharks refuse to offer you important information. This information like interest rates and the amount you currently owe.
      • They might even refuse to let you settle your debt
      • They could take items as collateral. Things like bank cards, passports, or even a driving license

      Dealing With Loan Sharks

      Below listed are ways for you to deal with loan sharks.s

      Report your Situation to Proper Authorities

      The dealings of loan sharks are prohibited by law. Therefore, the next logical move is to report them to relevant authorities. Be sure to give details of who this loan shark is.

      Explain also how this lender operates. When you have records of previous transactions made with this loan shark. It will greatly help in the investigations. Ensure that all the details you know, you let the authorities know also.

      Avoid Dealing With This Lender

      When it happens that you have not to date made deals with loan sharks. It is recommended that you keep it that way. It is not easy trusting loan sharks.

      Regardless of how need and desperate you are. Keep in mind to never get personal loans from the loan sharks. The one rule when dealing with loan sharks is. Stay away at all costs from the loan sharks. Besides, it is better to be safe than sorry.

      Keep Your Cool

      The first step you need to take is to stay calm. Do not panic. It is not a good idea to let a loan shark see this. Even when you already are aware that they are attempting to victimize you. You could be risking yourself and get into more problems than you are in.

      Confirm the Lender’s Credibility

      Often, borrowers fail to confirm whether their money lender in singapore is accredited. This is simply because their operations appear legitimate. Consider this carefully because most loan sharks appear as legitimate money lenders. But this is only for appearances. However, upon further inspection. It will be revealed that they are fraudulent lenders.

      The first thing to do is identify whether they are certified. A legal and reliable lender holds a government-issued license. The license allows them to operate a lending business. When the moneylender has no license, consider it your red flag. Therefore, do not transact with them.

      But, if you already have borrowed money. Then you realize this rather late that this moneylender is an illegal lender. You are still able to get out of this situation unhurt. When you already have fallen victim to the illegal money lenders. Do not give up yet. There is still some hope for you.

      Stop Payments and Do Not Yield to their Threats

      As soon as you have reported your situation to the right authorities. You may now safely stop making payments on your debt. Since loan sharks operate unlawfully. It means that they legally not allowed to lend money. Neither should they be receiving repayments from debtors. Get informed regarding your rights and the law. Then you can use it against these lenders.

      Report Any Pressure And Further Threats

      Loan sharks could resort to making threats and pressuring you. Even then do not yield to these threats. You should also immediately report them to authorities. This will help your case since any more threats can serve as evidence.

      Consult a Financial Adviser

      It is a good practice to consult a certified financial adviser. This will be useful for you in future. In doing this, you do not face the risk of dealing with loan sharks. Additionally, you get to learn much better methods of getting loans.

      Who Loan Sharks’ Often Target

      The rise in living expenses in Singapore has contributed to need for loans. The ongoing need for low-interest personal loans is on the increase. The possibility that you might get caught in loan shark traps is on the increase. It just happens that loan sharks will always look for ways to contact borrowers.

      These lenders target those individuals with low income. These individuals also struggle to get a personal loan from legal sources. These lenders aim at reaching borrowers who desperately need loans. Loan sharks offer fake support for their borrowers on the initial meeting.

      Though people use personal loans to enhance their financial situation. They are not aware of what a loan shark is capable of. Typically, loan sharks appear to be friendly at the initial meeting. However, their behaviour quickly changes into intimidation and threats. It at times can escalate to violence.

      How To Confirm If a Lender Is Legal

      The Moneylenders Registry keeps an up-to-date full list of all licensed moneylenders. They usually have the list posted on their official website. When a moneylender does not appear on the list. Do not borrow from them. Also, you should not let them visit your home. Always take the time to check a lenders license. Be sure to confirm that it is valid.

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        10 Tips To Pay Off Your Loan Easily

        One main aspect to look at when seeking a personal loan. Do ensure you consider the monthly repayment amount. Carefully consider how your repayment amount will impact your lifestyle.

        That is all for the duration of your loan. This could be for about 5 years. Taking out a personal loan nowadays has become a norm. This is as far a most people’s finances are concerned. This usually allows you to do much more. That is when you get to meet an emergency. It will also help your financial challenges. This is often that you are able to pay your bills in a single lump sum.

        You could be in some desire situation. It could happen that you are not able to access a personal loan. You should not be afraid. This is because debt can easily be repaid. This is doable when you try out a number of steps.

        When you truly need that personal loan, go ahead and acquire it. Below are several the tips that you could try, when you are struggling with debt. Continue reading, you could find some useful tips that will help you to regain control of your finances.

        Get One Loan To Consolidate All Debts

        The most practical tip in repaying your loans easily is not to add any more debt. Do consider getting one loan to consolidate all your debts. This is especially if you have huge loans to repay.

        Eventually, for you to be able to repay your debt easily. You will need to work on being able to meet your daily expenses. At the same time, you have to be able to earn extra money. Continue working towards being debt free. Eventually, you will be able to repay your loans.

        Have a Goal In Place

        Another tip when trying to settle your debts. Ensure that you have a working goal in place. Have a date in mind when you should be able to repay the loan. That is no matter what. By working with the set debt, it will keep you focused. This way you will be more determined to pay off that loan. This will also make it easier for you to repay the loan. More so since you have got the motivation to do so.

        Reduce Your Expenses

        For you to manage to pay off your loan easily. It may be a good idea that you consider saving up some extra cash. This you will be able to achieve through reducing your expenses. Do not spend any money on the items that you do not need.

        When you can live much simpler, you may try it out. In addition, stop spending on things you easily can do without. Such small cut back will eventually save a substantial amount of money. This can go to reducing your outstanding loan amount.

        Create a Working Budget

        Something else you could to help you save some extra money is the use of a budget. You could start off by creating a daily and a weekly budget. Eventually, work out a monthly budget to help you come up with something to repay your loans.

        You may make adjustments to your budget to find out how far you will stretch it. This you can do bearing in mind that you will be saving some extra money. The more money you manage to save. The faster you will make settling your outstanding loan.

        Find Ways To Earn Extra Cash

        When your income does not seem to be sufficient to settle those loans. Looking for ways to bring in extra cash seems like a good idea. You could at this point try to get part-time jobs that pay quite well. These part-time jobs should not impact your current schedule much.

        Having more money coming in means that you can easily contribute a higher remittance. At the end of the day, you will manage to greatly reduce the loan amount. You can also choose to increase your monthly repayments. This is however based on how much extra cash you have each month.


        You need to learn to rank your money lender loans, assuming you have several of them. Look at the loans that are more crucial. Then pick out the ones that you can repay now and clear off.

        Consider the loans that you should repay the interest and which you may keep. Make sure you consider these things as you prioritize your loans.

        Make a Repayment Schedule

        Make sure you have noted the due dates for repayment. This way you will not incur penalties for late payments. Doing so will help you save some money. The cash you will need to pay for the late payments. May be used for settling the rates of interest on your other remaining loans.

        Try Using The Snowball Method

        One rather famous method of settling loans is the use of debt snowball system. This repayment method states that you need to repay the smallest loans first. Then you work your way up to the much larger ones. This you need to do until you have finally settled all your outstanding.

        Utilize Your Savings

        When you have some savings leftover in your account. It is not that bad to utilize it to repay your current loans.

        Benefits Of Repaying Any Loan Early

        The point is that repaying your credit card or loan debt early is useful. It will help save you some money in interests. It will also decrease the entire period of your loan. Consider what you would do with the extra cash: repay other debts, save for retirement, or even do home improvements.

        Certainly, there are many benefits to repaying your loans early. However, one of the main ones is less risk and reduced stress. This is because you will not be tied down to your moneylender anymore.


        If you are ready to make changes wisely. You definitely need to be able to settle your personal loans. In fact, you will become a much better planner. This is owing to the experience. Thus you will manage your finances better in future.


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          How Can The Foreigner Loan In Singapore Help You?

          Without a doubt, Singapore is among the most beautiful place to live in. However, for foreigners, living in Singapore can be rather difficult. Considering the cost of living here is among the priciest in the region.

          For an expatriate living studying and working in Singapore, it can drain you money-wise. And when your only income source is your employment, you could face some difficulties with your finances at any time.

          When you are in such a situation, it would be time for you to consider taking a foreigner loans from a moneylender. When you are low on cash plus there are bills to pay. Consider getting some additional money. This you can obtain using a foreigner loan offered by moneylenders in Singapore.

          Foreigner Loan

          You might be questioning what a foreigner loan will do for your current financial situation. Actually, this is a very important thing for you to question about and consider. When uncertain on using these sorts of alternatives for money, educate yourself on the way they work. This might help you resolve the hesitance.

          Different from the widely held belief system, the foreigner payday loans are not there to add you more debt. Actually, they are offered to help you settle any immediate financial obligations.

          Mainly those that won’t be put off till the next payday. You might be wondering how you’ll endure additional fees and rates. In particular, if you are making use of a small amount through this loan type. Even then there are some costs connected to taking out the cash advance or short-term payday loan. It’s for this reason why the use of a foreigner loan needs to be done after a thorough research.

          A foreigner loan can help you pay off several bills or a bill on time. This way you do not incur all the extra late fees as well as bank fees. This makes it a smart method of making use of this type of quick cash. This is provided that the charges from your payday loan lender are not higher. This is when they are compared to other charges. More so those you would incur when you didn’t pay the bill on time.

          There are many benefits of using a foreigner loan. Another being that it will also give you the comfort you need in your financial situation. This is because the payday foreigner loan will relieve pressing financial strain. Given that you have a pile of bills which seem to keep growing. Or late fees which also seem to increase daily. Making use of a payday loan will offer you some short-term break. Plus it will help you regain your financial control in between your monthly wages.

          Keep in mind, that even though these loans help you manage a temporary financial setback. This means that the foreigner payday loan is not intended for use as a long-term option. One thing you need to realize is that most moneylenders anticipate being repaid. And always the loan is to be cleared with your following paycheck. Therefore, it is very important that you make a budget to guide into getting this done.

          You need to realize that the procedure for the short-term payday foreigner loan is very simple. In addition, the request for a loan is quick and simple. Thus it is possible for you to receive the funds you require within the shortest time possible.

          An added benefit you need to be aware of is. That choosing a payday loan will help protect your credit rating. This is because the two will rarely interfere with one another as they are kept separate. At the end of the day, this will keep your payday loan unreported. This method is particularly great for individuals who do not have any existing credit. Also, it’s helping those individuals who’ve had troubles with their credit. Thus it will be useful to help you improve your credit score.

          A payday foreigner loan will help you manage of all of your bills immediately. And at the same time, you will be protecting your bank account from incurring overdraft charges. At this time it is upon you to maintain the bills down. This you can do by making repayment of the payday loan. Hence you can continue to live healthier and happier. And without you experiencing financial burden pressuring.

          Even then, there is a very important aspect for you to keep in mind. A foreigner payday loan attracts rather higher rates of interest. The reason for this is because foreigners don’t own any properties in the country. The property when present can be used as a type of collateral.

          Therefore, the rates of interest will, of course, become a lot higher. This, however, is not a key concern amongst most foreigners bearing in mind of how urgently they require the funds. Also, they look at their ability to pay off their loan using their next salary. What the moneylenders tend to keep in mind mostly is your having the ability to repay your loans. And this they do. Depending on the deadline put in place during the signing of the loan contract.

          How you Qualify to access a Foreigner Loan

          For you to access this loan type here are some of the basic requirements that you will need to meet.

          • You have to be between 21 to 55 Years of age
          • Be sure you have a valid pass of Employment in Singapore
          • Important make sure your Passport is valid
          • You need to have Full-Time form of Employment
          • Also, you need to provide your lender Proof of Billing (an example is any receipts indicating your current residential address)
          • And finally, you need to submit your most current payslip from the past 3 months


          Living in Singapore can be rather difficult. Since the cost of living here is among the priciest in the region. A foreigner loan can help you pay off several bills. Thus, it will also give you the comfort you need in your financial situation.

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            Overcome Financial Stress Through The Help Of Money Lenders In Singapore

            Changes in life are occurring each day thus you will realize that your needs that require cash continue to increase. This situation can at times exceed your income, thus it’s easy that you might find yourself in a debt emergency and stress, and you don’t have anywhere to seek help.

            You also could realize that you have amassed debts on your homes, while others might increase for the wants of your investments as well as other credit card debts. The family is one more priority you can’t neglect particularly when the children begin growing fast, thus their needs continue to increase, and this may lead to you taking more debts. Our Government has introduced different services as a passing assistance for low-income families and even those who need urgent cash.

            Get Help

            At times the pressure might go beyond when you don’t apply the safety measures early enough before you go to the degree of getting depression.

            Under these circumstances, you should seek assistance from a professional or get someone to talk to. You may involve a partner, and as you talk about the matters, you will easily come out with a harmonious solution which you’ll be capable to try and implement as well as follow up.

            Talking to somebody is a helpful way since it’s been proven to be a healthy way for relieving stress. For that reason, you need to talk to a person you trust about your money troubles, and you may be surprised at how you will be able to resolve the issue.

            Visit Moneylenders For Assistance

            Once you have established that your day job will bring in some income, you will have an approximation and prospect of the funds you will be earning each month. This can help you in many ways since you can now get a payday loan offered by moneylenders.

            And since you know that you are able to repay the set time after working out your monthly wages and also what you get to keep after following your budget. You could begin by applying for small loan amounts and gradually increase them depending on the amount of your income, and this can instantly help you meet your daily needs.

            Need For Money

            Many people are afraid of being sidelined by their friends, and they get stressed over this issue about where they can find a source of cash to meet these needs. This mental state isn’t healthy and it can harm your life when you don’t overcome it on time.

            It’s for this reason why you need to have a clear mind as well as find a solution to help you get the cash to help satisfy your needs. At this point is when you will find it essential that you visit a licensed moneylender who could be the right companion in such financial crisis.

            But before you visit moneylenders to get a personal loan or a payday loan, you have to make the right decisions so that you don’t find yourself not able to repay.

            Follow Your Planned Budget

            Once you have set up your priorities, you have to put together with a sensible budget plan in which you list all your provisions. When you adhere to the budget, you will have it easy because you’ll get the chance to determine when it’s possible to reach your planned budget based on your income.

            There’s no chance for you argue with a partner over this issues, since the choice is already made, and it’s clear. Emergency cash is very essential and you could start by putting aside some money.

            Focus On Your Priorities

            The best approach is when you focus only on the essential things at present. Let yourself understand the needs that may come soon and start working on saving for such priorities. You need to understand that all that you desire has to be within reach to avoid a situation whereby you would like a luxury car, yet you know rather well that you can’t afford.

            For someone with kids, you will need to buy essentials first like diapers and milk as a substitute for spending your income on luxuries like Chinese New Year TOTO draw. Also, you could start saving for kid’s education as well. In so doing you will be to set your goals as well as your living standards according to the amount of money you have plus what you can borrow from a moneylender in Singapore. And also be able to relieve yourself of the stress over money.

            Get A Job

            It important for you to realize that you are in an urgent financial situation and that it’s only you who has the right solution. It is advisable that you make use of the skills you have to find an appealing job that will make you some money.

            Everybody has some skills and knowledge which they could implement. You may even realize that what you’ve started as a small company might turn into a very big corporation. You could also begin your job search through an online portal like Jobscentral, JobsDB and also jobs bank which is under the support of the local government

            Summing Up

            In Singapore, life at present is very demanding and given that you have the cash to sustain these needs, you may easily find that you are in financial crisis. It’s becoming rather hard to get peacefully coexisting families that can come together and work out their issues.

            You need to stick out for yourself as well as strive to bring the family together to talk about all issues that concern your family. Be it in times of anger or happiness. This can greatly assist your family in realizing that you are troubled and they’ll support your efforts and everyone will take up their roles dutifully.

            When you have some free time, you could use it for your hobbies. Eventually, you will realize that after a busy day at work, you don’t have time to stress over financial issues.

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              How To Identify The Right Licensed Money Lender For You

              It’s almost not possible to live without borrowing from time to time. The best solution to getting a peaceful debt is in using a certified moneylender. For instance in Singapore, loan sharks are everywhere. Luckily, the difference between unlicensed and licensed lenders is rather clear.

              Licensed moneylenders are ruled by law and they always stick to the contract stipulations. Loan sharks, in contrast, operate illegally and will treat you as they wish. Therefore it’s important that you find a licensed moneylender always and make sure you sign a loan contract. Here are some important that will help you locate the best-licensed moneylender.

              Verify That The Moneylender Is Registered With The Singapore Ministry Of Law

              When you decide on a given money lender, do confirm whether they are registered with the Singapore law ministry’s website. All legal moneylenders in Singapore must be listed on the moneylender Registry. In so doing it’s easy for the lender activities to be monitored by the ministry thus ensuring they follow the set regulations and rules. Any moneylender that goes against these laws definitely loses their license. Meaning that only honest, serious, and law-abiding money lenders will retain their registration standing over the years.

              Do Background Search For The Lender

              It is essential for you to do background checks to confirm the lender’s information. Luckily with the current technological advancements, this won’t be hard to do. Many certified moneylenders have websites which can be used to help you get more information about them prior to making an appointment. Then again, there are individual websites as well that conduct a direct review of money lender singapore.

              The Moneylender Must Have A Physical Office

              Licensed moneylenders must have a physical office that will conform to what they have indicated online. Loan sharks, however, will act as if they operate fully online. A genuine moneylender has to maintain an office and a sizeable number of staff.

              Once you get the entire information online, then follow up with a call and at last attempt to go to their office. Even when you are signing the agreement ensure that it’s done only at the moneylender’s office.

              Examine The Sort Of Fees Charged

              Singaporean licensed moneylenders are permitted by law to only charge 3 types of fees excluding the interest. It’s important for borrowers to be aware of what to expect. Soon after you pay these 3 levies don’t anticipate hidden charges to arise. These fees include:

              • Primary service charge. The lender charges this fee to assist processing your personal loan. It must not be over 10% of total loan cost
              • Late repayment fees that are paid when the loan defaults. A lender needs to be ready for you to sign an agreement
              • Legal cost charged only when there’s a court case

              The Interest Charged Shouldn’t Be Extremely High And Varying

              Licensed moneylenders, in contrast, abide by the interest rates depending on the rates in the market. This offers the borrowers some serenity since the rates of interest will not be different at any time. Also, do remember that the Singaporean registrar of money lenders clearly states what the interest rates charged should be for all the licensed lenders. Provided that the money lender you choose is registered and they use that rate or else their license will be revoked. When you choose to work with a loan shark make certain that the rates will change whenever.

              Remember that the loan agreement is the only document that binds you and the lender. Don’t under any conditions agree to sign any blank or an incomplete document. The agreement must be done by a lawyer and should include all the things you talked about with your lender.

              The personal loan period, interest rates, as well as all the other fees, need to be indicated clearly in the agreement. Make sure you understand all things written in the agreement before you add your signature. The agreement has to be signed by both of you. Make sure you remain with a copy of the agreement.

              Loan sharks, in contrast, will not be firm on a contract because it’s a drawback for them. Also, don’t let the lender keep some of your personal papers like your identity card.

              Licensed Lenders Should Not Engage In Telemarketing Or Send SMS

              When you meet a moneylender who sends you spam SMS as well as does telemarketing, then simply drops that deal. Such lenders are not registered in addition to them obviously not sticking to the guidelines issued by the money lender Registrar. The regulations strictly forbid approved money lenders from promoting their services via SMS. This is because of the reality that many prospective customers have been deceived by swindlers as well as loan sharks through fake SMS.

              Be Cautious When Getting A Loan

              Most licensed moneylenders in Singapore are aware that personal loans area legal obligation and for that reason always carry out an upfront due diligence. Things that concern with your monthly wages, loan repayment plan, as well as outstanding financial obligations, need to be looked into. On the other hand, loan sharks won’t mind if you can repay the loan comfortably and yet be able to lead a serene life. For instance, when you have a job a loan shark may not mind even though you end up using all your income to settle the loan.


              Every time you have an urgent need for funds, always think twice prior to approaching a money lender. Also, check whether that lender is approved or just a regular loan shark. In following the above-mentioned distinctiveness of legal money lenders, being able to identify one will be rather easy for you.

              First impressions also last, thus a licensed lender always exercises excellent customer service skills and are familiar with the respectful and polite language. Licensed moneylenders are stable and so cannot deceive you or even consider unscrupulously slashing off some of your loans. Additionally, your rights are fully protected since the licensed money lenders are stringently working under the set law.

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                Tricks To Get A Personal Loan With Bad Credit History

                Just like the questionable multimedia documents you have on your hard drive, a few things cannot be removed regardless of how hard you might attempt to delete it. These files always leave behind a track that is easy to dredge up. The same goes for your credit practices as well; in this particular case, deleting will only come by means of getting rid of the debt fast, so that you can enhance your credit score.

                However, it always does not work that way. In desperate attempts to apply for personal loans – whether to help you cope during a tough period and even for financing medical bills, banks will always have a record of how you have been managing your line of credit.

                Give that you have a poor credit history and at the same time you have to obtain a bank loan, do not give up yet, there’s still hope even when the only loan option you were considering goes poof. The below-listed ways will very well reverse the fate of your personal loans and help you get the emergency funding you urgently need.

                What You Need The Personal Loan For

                Having to deal with your loan application being rejected isn’t the end of your life. It simply is the end of a disappointing attempt to obtain a loan. Even as there are many alternatives to the banking institutions, there are choices available to you for the loan as well. As soon as you have clearly outlined the purpose of the personal loan, your Plan B will also become much clearer.

                For instance, when you require the personal loan for startup use, or maybe for kick-starting the start of a revolutionary personal project, it’s time you discovered the surprises of peer-to-peer lending plans, crowdfunding as well as the microloans issued by SPRING Singapore.

                Consider Other Funding Avenues Available

                When in urgent need of funding, bargaining for personal loans with banking organization can feel rather pointless. Large financial organizations as such always have a set of stringent practices and protocols to maintain, thus a no from them is simply that. Instead of fussing about it at the banking hall or even giving up all the same, possibly the answer is as easy as circling the set procedures.

                Do realize that banks are big financial institutions, and not the one and only. It is worth noting that there are many other avenues for funding that can give you the second chance such as the licensed moneylenders. Let’s look at pawn shops, for example; you could and un-hoard the luxury pre-90’s goods for you to get a loan. When you also require a more time for your repayment and you do not mind losing your ‘assets’, then go ahead and coax them to the willing buyers. However, in some cases, you may not have much control of the trend.

                When you would like an alternative that is on the same level as the banking institutions in terms of speedy approvals and high loan limits, you may think about shopping around for the right licensed moneylenders despite the many preconceived notions some people have. These lenders are more ready to accommodate your loan requirements.

                Furthermore, owing to the new effects that started last year, these legal moneylenders will no longer overprice their rates of interest to their borrowers. It was amended from a high of 20 percent per year to 4 percent each month.

                Request For A Loan But With Help

                Before you jump to the wrong conclusion, the idea here is not asking you to commit an identity theft. On the contrary, what is being suggested is that you enlist the assistance of somebody who trusts and knows you well enough to take out a personal credit on your behalf. If you are someone who used to take out credit in past, it’s likely that you were always asked to list your guarantor.

                In this case, it will be like you are getting the guarantor to do the borrowing. Likewise, you will, in addition, be putting the individual’s credit score in jeopardy, therefore be even more accountable for your personal loans as you would your own it. The loan is your, the more reason you need to be accountable.

                Show The Lenders The Proof Of Money

                It might happen that you are back in the money; however, the bank still puts the rejection stamp on the loan application since that one bad financial choice you made many years ago has left a lasting mark on your credit record (and let this be your learning point!). In spite of everything, no one likes the feeling of continuing risks even with the hope of beneficial returns.

                Before you despair, there are very many local and foreign banking institutions in Singapore available for you to choose from in case when your first choice of lender turns you down for a loan application. It still is possible that you to negotiate with the mortgage officer.

                One important thing for you to keep in mind before you go straight to your lender to give your case, make sure that you have armed yourself with the right documentation for instance bank statements and also the latest credit report for you to submit them to your potential lender to show them that you’ve been careful in servicing your debts.


                Having a bad credit score can leave a lasting mark on your credit history. The solution to a bad credit rating is only doable by getting rid of the debt fast to help improve your credit score. Even then it is important for you to realize that all your credit practices are always recorded in this statement.

                Thus a low credit score can remain in your credit history for a long time and it will certainly have an impact on your future loan applications. Before you give up you need to realize that there are many other alternative sources of funding besides the banking institutions. Therefore shop around for the right lender who is ready to offer you a loan despite your poor credit rating.

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                  10 Borrowing Tips For A Short Term Cash Loan

                  Short term cash loan in Singapore, are often taken out by individuals who urgently need fast cash for an emergency purpose. The short-term loans are an unsecured type of loans and in order for you to qualify for one. You are required to have regular wages from some sources like from a business or a job. You are also required to be a Singaporean or a resident of Singapore and can work here as well. In addition, the law instructs that you need to be 21 years and above before you are able to take out a short-term loan

                  Unexpected events in life can at times pressure many people into taking up short term types of personal loan. One thing tough banking institutions don’t offer their loans to every person. It may happen that a borrower needs a short term loan straight away but they may not hold a good credit rating.

                  However, licensed moneylenders are able to extend short term loan types to help their borrowers manage their financial deficit. During times of extreme anxiety, some borrowers may overlook the important conditions of the short term loan.

                  One important thing that borrowers need to keep in mind is that that they should avoid borrowing a loan for servicing games of chance that can include games like betting, gambling, investment trading and also undertakings that aren’t a guaranteed thing. The amount of money you borrow needs to be utilized for the particular need it was borrowed for.

                  When you have borrowed too much cash instead of using it on imprudent ventures, make sure that you repay it in huge sums as part of the loan repayment agreement.

                  How To Qualify For A Short Term Loan

                  Given that short term loans are unsecured, the money lender will require evaluating first your capability to pay back the loan. The assessment done also gives the potential lender a good plan of the sort of repayment scheme that will best suit you to ensure that you aren’t overburdened. Your money lender will examine the below-mentioned things for you to qualify this type of a loan:

                  Credit Rating – when your credit rating is poor, your lender is able to still help you access the credit you require on condition that your financial situation at present is able of supporting your loan.

                  Employment Proof – You also need to present your employment agreement. This contract should contain things like your monthly salary clearly indicated. Also, this serves as an indicator of your ability to service the loan taken with ease.

                  Your Recent 3 Months Payslips – this is only for foreigners. These documents enable the money lender to evaluate your income, debt servicing ration, and other expenses. Using this information, a licensed moneylender will know the amount of money they can extend to you in loan money as well as work out a repayment schedule that can work best for you.

                  This loan type is specifically ideal for individuals in business and those that are paid on commission. By using such information your money lender is able to work out the amount of money you earn each month on average. This way they are able to calculate the loan amount you are able to get as well as the repayment scheme that is best for you.

                  Bankruptcy – when you have in the past filed for bankruptcy, you will still qualify to get a short term loan with a licensed money lender by presenting your discharge letter. Unlike the traditional banking institutions which require a previously bankrupt individual to wait for as many as 5-7 years before they can be able to access credit, there some licensed money lenders who are able to assist you now.

                  10 Useful Tips To Consider Before Taking Out A Short Term Loan

                  When you are not sure about how the process works and whether you simply would like to access a loan fast and without hassle, it is advisable to read through these 10 tips listed below to guide you.

                  • A licensed moneylender needs to explain the conditions and terms of a short term personal loan to their borrowers using a language that is easy to understand and in a clear manner.
                  • Borrowers need to ensure that they get a copy of their Note of Contract during the time the funds are being issued to them.
                  • It is important that as a borrower you ensure that the Note of agreement is correctly showing the principal loan amount of your short term credit and rates of interest charged as well as dates of the contract and the loan disbursement as well.
                  • Borrowers should make sure that the licensed moneylender had issued the accurate loan amount with no portion of it being withheld for whichever reason at all.
                  • It is important that borrowers ensure that they pay their monthly installments promptly to avoid incurring additional late payment charges.
                  • Borrowers need to get a dated and also signed receipt each time they pay back the short term loan and also any costs charged by their moneylender
                  • The receipt needs to bear the certified moneylender’s name, telephone number, address, the cash amount repaid as well as the date when the payment were made.
                  • The borrower needs to ensure that they get their accounts statement for all their loan(s). The statements need to be issued at least once in every 6 months. Borrowers should make a point to request for one when they do not receive any from their money lender.
                  • Borrowers also should maintain proper records of all their short term personal loan repayments
                  • And above all borrowers should not rely on any verbal commitments made by lenders. They should ensure that they always obtain a written proof from their licensed moneylender.


                  Short term loans are often taken out by individuals who urgently need fast cash for an emergency purpose. Unexpected events in life can at times pressure many people into taking up short term types of personal loan. One important thing that borrowers need to keep in mind is that that they should avoid borrowing a loan for servicing games of chance. And above all be sure to work with a licensed lender.

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                    How To Get Best Car Loans Even With Bad Credit Score

                    It can be frustrating when you love a car only to realize that you aren’t able to take it home with you since you are not eligible for financing because of your bad credit. One thing to note is that bad credit does not have a specific range. It’s an issue of opinion that if different from every moneylender. When one moneylender deems your credit to be poor another will place you in the subprime range.

                    Having bad credit record doesn’t imply that you will not be able to ever acquire a car. In spite of this, you are able to even get a new car even with your poor credit status, since many reliable licensed money lender in singapore are ready to approve your poor credit car loans.

                    Don’t give up hope yet, below are a number of tips that can help you get your car using a car loan even when you have a bad credit score.

                    Some Issues That Might Destroy Your Credit Rating

                    • Defaulting on your other loans, foreclosure, and bankruptcy.
                    • Missed or late payments
                    • No or little credit history
                    • Lots of existing debt
                    • Not having assets to act as collateral (a car or a home etc)

                    Confirm Your Credit Rating

                    Different moneylenders will have different methods when evaluating a borrower’s credit score, but to help give you a clue, it could range as follows:

                    • Excellent credit; 740-850
                    • Good credit; 680-740
                    • Acceptable credit; 620-680
                    • Subprime credit; 550-620
                    • Poor credit; 300-550

                    For you to be able to get your credit report’s copy, you only need to get in touch with Singaporean Credit Bureau Ltd and the DPC. Both of these credit bureaus are gazette as the only credit bureaus permitted by the Singapore Monetary Authority (MAS) to produce copies of your credit statement. Immediately after you have received a copy of your history, make sure you evaluate it to confirm to ensure that you do not fall into poor scores bracket.

                    To help give you a better point of view, you do have a possibility of receiving a personal loan as compared to those individuals having to rely on their credit history. When you are certain and ready to get an auto then you better plan to get a good car loan way before you start shopping for your dream car.

                    One thing to keep in mind is that your credit report may include your personal information (apart from your contact information), any default records (that is the unpaid debts), each and every credit checks made, bankruptcy records which will remain in your record for 5 years, your credit accounts, loan inquiries and outstanding balances, credit repayments made within the past 12 months.

                    Since you now know the things that affect your credit score, make an effort to find a few mistakes in your credit record and do fix them. The previous moneylenders, when you have a few, are the one who records all your payments. And it can happen that on some occasions they may fail to record your timely payments and get to only report the failure to repay on schedule.

                    When you come across some mistakes, be sure to get in touch with the credit bureau that had provided you with the data. The credit bureau will then post your argument on your credit record to indicate clearly that it’s under investigation.

                    Thereafter they will regularly keep informing you on the progress of this investigation. As soon as adjustment has been done, the credit bureau can then send you the modified copy of the credit statement to you as well as to the companies that made inquiries regarding your record within the past 3 months.

                    It is recommended that you take the time to shop around for car loans, however, be cautious with the period of the car loan inquiries you send out. Having too many inquiries will certainly bring down your credit rating further. For this reason, try to apply for a personal loan after 14 days, as this will be reflected in your history as one solid inquiry.

                    Also, ensure that you compare your rate of Annual Percentage (APR) for the car loans rather than looking at the low monthly payment it has. When you only focus on monthly interest and payments, you may not make out the bigger picture that you will be paying a lot more than you should. Don’t get trapped in making the personal loan period much longer only to have lower interest for each month, eventually, you may be paying extra in interest.

                    Always bring with you someone when you go to a moneylender’s office. The companion may act cynical or unconvinced and can even pose questions that you will have overlooked. Some moneylenders possibly will want to convince you into taking the highest possible interests that they can offer, but your friend can help negotiate for you when you do not have the nerve.

                    As soon as your credit is in good standing, be ensuring you keep track of the credit report. Also, make certain that your payments are recorded well to avoid mistakes. When you can, by making your monthly payments in full. When you would like to settle your cash loan earlier than it’s time period, confirm you will not incur penalties. Some moneylenders do charge prepayment penalties. When you choose to have several loans, it can be helpful that you have it with a single provider. In so doing you will easily be able to track your outstanding dues and payments.

                    Because your credit record is bad doesn’t mean you have to forgo owning a car. You simply need to do work more, but in the end, it will pay off. Once you get a cash loan to suit your financial standing and need, confirm the amount you can spend on your car. Select your car prudently. Rather than choosing based on style, pick based on your need. Car loans for individuals with bad credit are available; just take the time to research.

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