Some thoughts about individuals who borrow money from Licensed Moneylenders

There are groups who tend to guess that when other people start to request for loans from licensed Singapore money lenders will assume that due to gambling or just usual over spending of money. Simply the reasons can be as simple as paying off electricity bills. Yes it is that simple and not because your buddy or cousin etc... is a typical gambling addict, but gamblers have a high possibility to owe debts. Due to such typical assumption, individuals may tend to feel shameful when they borrow unsecured loans, not to blame them for having to feel that way as they could be at their lowest point of their life.

Whether is Daily Upkeep or just because of peer pressure, there's a tendency to create a route to owing debts because of the rise of expanses and the current salaries just can't cope with it. Seeing your buddy start buying luxury convertible could influence you in buying one for yourself even though a normal vehicle will more or less be enough for you. Your closest cousin brought an expensive exec condominium and starts to talk about it could just be enough to tempt you in buying 1 for your own leisure. Of course, getting a Singapore personal loan from licensed money lenders to pay off the debt which the high upkeep lifestyle have accumulated for themselves, you may find it absurd. Still peer pressure especially in a high end living is the trend is more than sufficient to set you off in creating the hole for yourself.

As our world gets more materialistic, you will start dreaming of having lot's of materials which are most of the time not important. For instance, getting a HUDC where you can only afford a normal apartment just for the sake of showing to people that you are living the life in a false manner or simply to justify your own pride in life. There are cases where getting a personal loan due to unforeseen accidents like medical expenses is rather common. Bedridden and can't stand up to work, the bills just pile up and financial assistance is required.

Do not judge so hastily when you know someone is getting a personal loan that he/she is a gambler etc... There's possibility, we may reach the lowest point in our lives and getting a unsecured loan maybe the only way out. Still if we were to reach that stage, we must remain calm and consider before deciding in getting a personal loan. Hopefully it will be for the right motives of course.

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