Business and Finance are inseparable things like body and head. As long as we live on earth, we must be active in order to survive and not be in the lowest hierarchy. Some people misunderstand the meaning of the above words and are determined to be at the top. Not a few of them took the shortcut by going to the money loan and borrowing a large amount. They only think about the moment and do not know the risks and losses of money loan.
– Loan interest continues to grow
When someone borrows money from a friend, they only need to pay the same amount of money, but this does not apply to money loans. Loans provided have several conditions that must be agreed upon by the borrower and one of them is the loan interest rate. The longer we pay the loan money the loan interest will continue to grow. Even when we do not calculate interest on loans from year to year, we can pay up to 5x from the initial loan. This is very detrimental and can make a person go bankrupt or even do a bad thing.
– Confiscation of property
One of the agreements that exist when loan money is the confiscation of property for the borrower. Although the money borrowed is only half of the price of the confiscated property, in legal view it is legitimate and there is no tolerance. This is because both parties have agreed to the written agreement and all rules or policies established. We can not withdraw property confiscated as long as the amount of money and interest we borrow is not us back on time. You can imagine if you just borrowed $ 150,000 and your property for $ 320,000, you will lose it in a short time without your realizing it.
– Can not make loans in the near future
When you go to money loan at the beginning of the month, you can not make further loans at the end of the month in the same month. This applies almost to all money loans because it is risky for them. Irresponsible borrowers can leave at any time and avoid payment of the loan.