Don’ts On Paying The Loans

At some situations or instances that you encounter problem when it comes financial condition, there’s always someone who will aid and support your needs, and these people are the lenders. These are your only option that will help you in times of emergency cases or serves as your temporary relief when there’s urgent or is necessary. And by paying them, you have to settle it on what is being agreed or depends upon on the terms and condition stated in the said lending company because if not then probably conflict and misunderstanding will exists which is need to be avoided.

To prevent some series consequences brought from not paying the loans on time, if you borrow money, you have to learn of what is good and bad, what should need to do and what should be avoided. Paying of loans for those who have reasonable income they would probably have good record to lending company, but if you belong to poor and insufficient kind of life then probably you have no choice but to pay it for longer time, which is a hassle and gives you so much headache. You pay the loan but how? What are the things you should take note especially the don’ts.  In order for you to be guided on paying it, you have to learn first the don’ts of paying the loans.

And here are some of it;

Don’t pay it after the due date

If your lender lends money just in time because for some emergency purposes and or very urgent instances,  don’t just wait till it due in exact date or else you will be charge with the amount of interest being agreed upon the statement of application or of the lending company.

Don’t ignore the penalties

If you want to borrow money next time, make sure that you won’t tolerate the penalties being agreed on the statement and or of the terms and conditions stated or else you will experience the stressful penalties being agreed by company.

Don’t create false hopes

To borrow money, don’t give false hopes, or don’t say that you are going to pay it before the due date, because sometimes the lender would fail to trust you again and will not give you the chance of lending money even though you will again experience difficulty. Do you think lenders will give second chances? Maybe but not all. So you have to avoid this kind of negative attitude before its too late.

Don’t set aside the loans that need to be paid on time

Yes you have received money because you set an expectation of paying it and put attention into it. But remember, you need to pay it on time.

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Effects Of Not Paying Short Term Loans In Due Time

You can’t avoid financial problems, but you can still find a better solution to continue your life and not just stuck in one nest and do nothing, stare and just sit around the corner. In order for you to survive you have to learn to risk and strive hard for good results. Don’t influence yourself with some vices that would only harm your life and put you into worst scenario, it is not right way to solve your problems and it will not make you happy and enjoy life to the fullest. Since your bear a chaotic financial situation, there’s no way for you to lend money such as short term loan for example. This type of loan lends you small amount of money for some emergency cases such as providing yourself with your temporary needs, but by paying it you must not exceed for years. Because this kind of loan is very common nowadays and a lot of low-income families grab this, it does not mean that it will not affect their financial condition because if they will overlook the payment of this loan probably they will experience bigger risks and burdens into their life.

Paying of short term loan for longer time will affect not only your life but also the life of your family as well, and ignoring it would give more stress and headache and probably makes you sick too. It is not easy to live a life of being a debtor, but if you will look at the effects of ignoring it, probably it will give you sleepless nights because of the conscience and shame that it brought to you. Your reputation is also at stake, because for some reason, many people, your neighbor and your relatives will know how miserable your life is. If you will not pay it, the more interest it will charge to you too.  Sometimes it will put your life into danger, because if you lend money to someone such as your friend or to anybody not close to you, probably it will put grudges to you since you give false hopes to him or them. Your life is at stake and also your family. If you have children, this would hurt their emotions and they would wonder why you have this state of life and why you are escaping to the real situation and to the problem you are experiencing.

There are lot of effects that you will deal with when you don’t pay your loan such as short term loan in due time, but those mentioned are one of the main consequences in real life situation. So if you still have solution and you can do best in life then you will prevent all these from happening.

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