Mostly, a lot of borrowers end up being exploited by illegal lenders through exaggerated interest rates and other hidden charges; this is mainly because they don’t choose the right moneylender for their needs. There is quite a few licensed money lender in Singapore available for you to choose from. Credit Excel Capital Singapore is one of the reputed names in this field, and if you choose them, you can be assured that your relationship with them will be simple and comfortable.
Too many customers get further into financial trouble when doing business with an illegal or irresponsible lender. When a short-term payday loan for larger amounts of fast cash is taken out, the financial struggle most often continues. Add the fees to the payoff amount, and the balance becomes a struggle to get paid. Each pay period that goes by without paying it the loan off, the high interest will continue to make the figure grow.
The problems from unlicensed moneylenders continue to create additional headaches with aggressive collections practices. When a lender does not practice legal lending, it is usually followed up by unlicensed collections.While choosing a licensed money lender in Singapore, you, as a borrower, must be cautious so that you don’t have any remorse in the future. Choose a lender only after carefully analysing all the options available and compare the rates offered by various moneylenders in Singapore. Choose Credit Excel, who have affordable rates, terms and conditions that are comfortable for you
Another important tip to remember while choosing a licensed money lender in Singapore is to check for the validity of their contact information, and the address they give is genuine.Mostly, unlicensed moneylenders do not have authentic contact details. Choose a moneylender who offers 24/7 customer services like Credit Excel. They have a very interactive helpline number to help their customers if they have any query or questions; hence they are one of the most trustworthy names in the money lending field.