secured loan Singapore

October 27, 2021 Sucredit No Comments

Debt Consolidation Loan

Paying off debts is never easy. But a low interest rate and smaller payments can ease your burden. When it comes to general consumer debt like credit cards and personal loans, one of the most popular ways to lower your rate is debt consolidation loans in Singapore. It has both advantages and disadvantages, but you can make an informed decision when you consider the fees to borrow and how your debt is currently set up. This is a type of loan as it is made available by a lender to settle all debts currently owed. What is a Debt Consolidation Loan? It is a type of loan that is provided by a lender to pay off any debts currently outstanding. By availing of this loan, all monthly installments can be combined into a single payment that needs to be settled to a new lender. It makes sense to lower the monthly payments, lowering the interest rate, as this will be retained for a longer period of time. Debt consolidation is a way to pay off debts, requesting a new loan that pays all your debts and that you focus all your efforts on paying a single debt, instead of several at the same time. However, debt consolidation is not for everyone and we tell you why: Pay off your debt by consolidating or with credit repair. How to consolidate debts? To consolidate a debt you have to follow the following steps: Find the financial institution that is said to be willing to offer a debt consolidation loan, which is usually credit cards. Of all the offers that money lenders make to you, accept the one that suits you best and suits your payment capacity, usually, you can extend the term and reduce the rate, but remember that reducing the monthly payment will also increase the time that you have to liquidate. Identify the expenses that you can do without so that you can have the resources to pay your only debt. Make a budget to analyze your ability to pay and thus not have problems in your personal finances for that one debt. Types of debt consolidation Using a balance transfer credit card, that is, transferring debt to another institution that has a lower rate, thus reducing the amount that is paid for interest or other commissions. Take a personal loan that has the purpose of consolidating all your debts into one and thus you have greater control over your finances, by knowing exactly how much you have to pay and on what dates. This is convenient when having different debts makes your financial life look in chaos. Requirements to consolidate debts Good credit history. ID. Proof of address and income. Details of the bank account (s) you want to transfer. Recommendations before consolidating a debt Consider that it is possible to consolidate debt from your card or account with the bank you want to contract. Make sure to contract loans with a fixed rate, in this way the amount to be paid will not increase. Do not forget to compare the interest rate you currently have with your card or loan and opt for the most convenient credit. Research about the money lender you plan to choose. Some institutions condition the obtaining of credit with the purchase of insurance. This is to protect themselves and not cause problems for their relatives in the event of non-payment due to some misfortune. Benefits of consolidating debt: Keep in mind that it is easier to have control of a single debt than three or seven. Make sure the interest rate is lower than those of your debts separately. Remember that by reducing your monthly payment, you will also increase the debt settlement period. You will have the possibility of making a monthly budget to know your ability to pay the debt. Negotiate directly with the institution that can offer you the debt. Maintaining a good credit history is key to accessing future loans with better conditions. Remember, this is about being very realistic when weighing your income, expenses and what you owe. Paying debts is not easy no matter what the reason for debt was, it is never too late, approach finance specialists and you will see that your financial situation is not as gray as you thought. Are Debt Consolidation Loans Good? Yes, as long as you have control of your expenses and do not fall into debt, because the new loan will be much larger and you must pay it, otherwise you will have a debt snowball that could lead to bankruptcy. Remember that to consolidate debts it is important not to have arrears, if you already have more than 3 months and do not have funds to continue paying, it is better to resort to a credit repairer such as Solve your Debt, which helps you settle your debts without having to ask a loan. Benefits of Debt Consolidation When considering the benefits of a debt consolidation loan: You have to pay a fixed monthly rate to the lender. Lower monthly payment, meaning more monthly cash flows in less time. The interest rate for the consolidation is usually lower than the current interest rate. Main advantages of debt consolidation: You only have one debt Suppose you owe four different things: the car loan, money on two credit cards, and the card from a department store, you need to be aware of each of those debts and pay 4 bills each month. With the consolidation, you will free yourself from pending payments with the help of credit, in which your 4 debts will be united into one, in this way you will need to pay only one receipt each month, which will make it easier to plan and budget for your expenses. Reduction of the average interest rate on the total amount With four different debts, the highest interest rate can be up to 18% and the lowest interest rate can be 3.5%. After consolidation, the grouped debt can

secured loan Singapore

October 21, 2021 Sucredit No Comments

4 Reasons To Engage A Legal Money Lender In Singapore

Ever heard of scammers who persuade innocent people into getting loans of a large amount of money? Well, most of these scammers end up threatening people’s lives or even hurting their families. These scammers are mostly known as loan sharks. Most of these loan sharks forge licenses and run their illegal businesses which may also involve money laundering. When planning to get a loan, make sure you check out people’s reviews on the various moneylending agencies to avoid future misunderstandings. An example of a legal money lender in Singapore is SuCredit Pte Ltd. Alternatively, you can also access a loan from a bank. 4 reasons to engage a legal money lender in Singapore Getting a loan from a moneylender has its advantage in various ways. They include: 1. Low-interest rate When it comes to borrowing money from a moneylender, they tend to vary their interest rates. They are mostly lower compared to those in banks. The lowering of these rates makes it cheaper to borrow money from these moneylenders. An individual takes a loan when he or she is in a considerable financial position. The main reason behind that is to avoid overstretching while repaying the loan. This is a great opportunity for anyone regardless of your income. 2. Negotiations are allowed When it comes to moneylenders, you can negotiate on the amount you need as well as the interest rate. One has the freedom to explain why he or she deserves the amount and also discuss the repayment period. In banks, you cannot find such a deal. This is because banks have constant amounts as well as interest rates that cannot be changed for an individual. This is where you could build your trust in the moneylender. Having a good creditworthiness quality will you help you even in acquiring future loans. This is one of the superpowers that make money lenders prefer more. 3. Fast approval When applying for a loan from a moneylender, the process tends to be fast. All you need to do is submit the required documents. These documents include: Your debt-to-income ratio. Your credit score and history. A photocopy of your identification card. SPF statements. Income tax statements. Residential address. A printed copy and an original copy of the 3 previous payslips. Once the moneylender has gone through your application, your loan will be processed immediately. You can get the money on the same day you apply. Indeed, it is quite a fast process. This comes in handy when you need the money urgently. Urgency in money may be due to unpaid school fees, medical bills, wedding expenses, unpaid rent, and other house bills as well as business funding. In other words, moneylenders offer hassle-free loan applications. They also have a smooth process of verifying submitted documents. 4. Not so strict rules and regulations Banks are known to have strict regulations when it comes to giving out loans. Banks tend to avid loaning small businesses or even young businesses. They prefer loaning people with a high credit score as well as high regular cash flow. These regulations limit a lot of business people as well as individuals. Moneylenders are not strict and loan whoever is in need as long as the required documents are submitted. If you own a business and the bank denies you a loan, this is the best opportunity to turn to a moneylender. However, they still have some rules and regulations that need to be abided by. How To Identify Legit Moneylenders You might be looking for a moneylender within your area to acquire quick loan cash. You should be aware that there are loan sharks within the moneylending business. They are risky and can frustrate you. Yes, they will offer money quickly but are not legit. Here are some of the ways you can identify a legit moneylender: 1. They ask for collateral As human beings, we like getting things easily. Loan sharks tend to use that trick to take advantage of innocent people. Most of the times loan sharks do not ask for collateral to gain your trust quickly. Legit moneylenders ask for collateral to complete the contract. If you go to get a loan and the money lenders are too willing to give you money think twice. Yes, there is the reason giving of money, but if they pester you to take the money. That should act as a red flag. 2. They do not ask for personal information A legal moneylender cannot ask you about your private family and marriage life. The only private thing that could maybe be asked is the number of wives and children you have. A loan shark can ask you to tell him or her all the private details regarding your family. They record these details and may use them to hurt you when you fail to repay the money. 3. Checking out customer reviews Most moneylenders have websites where people can apply online. You could try to research people’s reviews on different money lending agencies. This helps you know if the moneylender is legit or not. It is advisable to avoid agencies that have no reviews at all or bad ratings. If there are also lots of complaints regarding a certain moneylending agency, avoid it. Conclusion When thinking of taking a loan, you should be very careful with who you are dealing with to avoid misunderstandings. You should also read the contract and understand it before signing it. You could get a long-term loan or a short-term loan from a moneylender. It all depends on your preference. Loan sharks give their loans at high-interest rates which are not ethical. The kind of loans you can get from a moneylender are business loans, education loans, personal loans, wedding loans, house loans among many others. If you need clarification regarding loans, you can visit your preferred moneylender before applying for the loan.

secured loan Singapore

October 14, 2021 Sucredit No Comments

Finding the right correct credit loan in Singapore

With a quick loan, consumers can bridge a financial bottleneck or fulfill a long-cherished wish. To find the right credit loan within a short time, it is advisable to compare the conditions of different providers, as the respective banks usually have very different conditions for their quick loans. However, customers do not have to be laboriously and time-consuming to obtain individual quick loan offers from different banks in Singapore. Once you have entered the required loan amount and the desired monthly repayment rate in the quick loan comparison, you will receive current financing offers and can compare the conditions of various institutes at a glance without obligation and free of charge. With the help of various filters, consumers can view the quick loan offers according to different criteria and thus further specify their selection. For example, if the amount of money is needed as soon as possible, customers can only view offers that are paid out within 48 hours of being approved by the bank. If the borrower wants special conditions, such as the option of special repayments or installment breaks, these can also be selected using a filter. In some cases, consumers receive their quick loan via the loan comparison at exclusive special conditions that the competitors and the respective banks themselves do not offer. Customers can also view this particularly cheap quick loan offers using a filter. For certain professional groups, such as self-employed or freelancers, it may not be so easy to find a suitable quick loan offer, as they usually do not have a regular, constant income and can therefore be less attractive customers when it comes to lending to banks. You can use the loan comparison to display special quick loan offers for your professional group. Once the right and cheapest quick loan have been found, the desired loan can be conveniently selected and applied for from home or on the go using the loan comparison. To do this, customers enter some personal data and their financial situation in the application process and then find out within a few moments whether the bank has provisionally approved the loan request. Consumers must always provide the correct information when applying for a loan. Loan customers will only find the best quick loan for their situation if they provide truthful information about themselves and their finances. If during a thorough examination of the customer’s documents, the bank finds that incorrect information has been provided, it can offer the loan on less favorable terms or even reject the loan application. Tip: When applying for a quick loan, it is advisable to state what you want to use the amount of money for. In this way, the loan can be tailored even better to your financing requirements. If the loan amount is to be used, for example, to replace an expensive old loan, consumers can in this case specify rescheduling as the purpose and thus receive a quick loan at more favorable terms. If you are looking for a personal loan online, you likely feel a little undecided about which is the best for you. Therefore, here we share a series of key questions that will help you identify which alternative is the most suitable for you. 1. Do you need to get it? Generally, online loan companies offer better response times than traditional financial institutions. However, if you are urgent to get the loan as soon as possible, the best thing you can do is opt for an immediate or express loan. As its name suggests, the main characteristic of this type of credit is that you can get the money you need in a matter of minutes. Just keep in mind that speed comes at a cost since these loans tend to charge higher interest rates and provide shorter repayment terms. 2. What do you need it for? Another important point to consider is the destination of the loan, that is, what do you need it for, what do you plan to use it for? If you need a relatively small amount to face an emergency or unforeseen, an immediate loan could be the best way. But if you plan to use it to consolidate debts, a person-to-person loan (p2p lending) would be the ideal option. Online loans provide different benefits, make sure you choose the one that best suits the destination you plan to give it. 3. What rate are you looking for? Another very important aspect is the interest rate because the range that you can find is very wide. We would all like to get a low rate; however, that is not always possible because it depends on the credit history and the type of loan that is requested. As we already said, immediate loans tend to charge higher rates, since they are small amounts and are aimed at people who may not do very well in a bureau. For their part, person-to-person loans are aimed at people with a good history and who, therefore, can access better rates and higher amounts. That is the reason why they are a better alternative to consolidate debts. 4. How are you at credit score? The options for a person with a good record and a good credit rating are very different from those of someone with no record or a poor credit rating. Although it is not a rule, for people who do not have a credit history or who do not do well in a bureau, immediate loans are usually more accessible. On the other hand, as we already mentioned, those who have good credit history can find more attractive rates and amounts with a loan between people. Do not lose sight of the fact that your history in the bureau is very important if you want to access loans with more attractive rates and higher amounts. So what is ideal for me? If you need money to face an emergency, you are not doing very well in a bureau and the amount is relatively

monthly loan

October 6, 2021 Sucredit No Comments

Monthly Installment Loan Lenders

Life is never a straight line. However much one is disciplined in terms of finances, it happens that at one time or another, they will fall into the trap of urgent need of finances. This could come up due to sudden medical conditions, car repairs after an accident, an excellent house purchase that was not initially budgeted for, and many other needs. Others take a monthly installment loan to consolidate their debts and avoid the high-interest rates that they may be experiencing every other month. As such, they end up reducing those significant expenses to something easier to accommodate. In such circumstances, one gets a way of going that extra mile, taking up emergencies, and sorting out the deal to repay later. Therefore, a monthly loan installment refers to the borrowed short-term loan, payable every month for a defined period. They are repayable in fixed monthly installments and can either be calculated on a fixed rate or a reducing balance method, depending on the company that one is dealing with. In Singapore, there are tons of companies that offer such facilities to support the borrower’s get out. One of the well-known companies is Su Credit Pte Ltd. It is a company that has been known to reach out to the hearts of people, meet their financial emergencies, and give allowances to repay a fixed number of installments over the agreed period. What Are the Requirements for borrowing with Su Credit? Every company has its terms and conditions to avoid dealing with clients who are not genuine, and Su Credit has its checks before accepting to proceed with processing the Monthly Instalment. Below are the main requirements, which every other legal lender still abides by them. One must have valid citizenship in Singapore, or in the case of a foreigner, they must have a valid employment pass issued by the Singapore government. Must have attained the age of 21 years Should also be in full-term employment or a good business. So long as one has these qualifications, one can access the monthly installment loan. However, other documents will be required to fast track the loan processing, and this is divided into two: For permanent residents. Documents needed for Foreigners. In the case of permanent residents, below are the documents that will be requested. Singapore National Identification Card or Passport The last three payslips in case one are salaried, income Tax Statement, or 15 months CPF statement. Those in business will be required to submit two years’ Income Tax statement for further verification and checking the ability. Singapore power service bill or a phone bill. With these documents, one will have the liberty to get the best loan with Su Credit. Why Sign up for a loan with Su Credit? Over the years, the company has gained credibility because of many reasons, and you cannot miss getting a monthly installment loan for the same reasons, such as One will be dealing with a legitimate lender that has been recognized in Singapore, duly registered, and has been accepted by the ministry to work with individuals in lending a wide variety of loans such as personal loans, entrepreneurial loans, and others. Fast Processing-As long as one has met the eligibility of accessing the loan with the company, the processing period can take as little as 24 hours. This has given the company mileage in getting many satisfied customers who love working with Su Credit always. Flexibility- Su Credit is one of the companies with customers’ interests at heart and is ready to offer the flexibility of the loan repayments depending on the customers’ ability. Manage your financial pressures- While there are loan sharks in Singapore, the main aim of Su Credit is to help alleviate the financial pressures. Mostly, it may come unexpectedly and see that one is at peace even when making the monthly repayments. Do not forget to look at more of Su Credit on sucredit.com.sg and get more insights on the products offered and see if they match your need for that incredible experience. Besides this, it’s always important to know what a valid licensed Moneylender in Singapore apart from Su Credit needs to have as a lender to think about dealing with them. Some of these requirements should be. The company should not have hidden fees– Some companies may offer a good deal on its look, but hidden fees may cost one a massive financial crisis. Before signing up with any of these companies, confirm all the fees that need to be paid and make sure that you are comfortable. Confirm if the company is licensed- Carry out a check on the company’s authenticity and ensure that they are legally licensed to operate in Singapore. Doing this will avoid dealing with loan sharks who use fake licenses to defraud innocent borrowers unknowingly. The effects of delay on loan repayments– At times, it’s inevitable to delay paying the loan. However, it is essential to know the fines imposed in case of a delay. This will help one keep off from messing up with the credit rating in such circumstances. How Monthly Instalments loan work with Credit rating As long as one has a good credit rating, getting a monthly loan with credible lenders is easy. However, some borrowers have bad credits and still get loans. This depends on how bad the credit rating is, though the interest charged on the monthly loans will be higher. It’s essential, therefore, to try and keep the credit rating and maintain them well to avoid high-interest rates. If you have some unpaid loans, you should make a monthly installment loan, pay off the previous loans and ease the financial burden, which could otherwise help manage the credit rating.

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legal money lender

September 23, 2021 Sucredit No Comments

How do loan sharks trick you into getting a personal loan?

In almost all business fields you will never miss a scammer or just some corny businesspeople who do not follow the respective business ethics. For example, in the money lending business section there are legit moneylenders and there are scammers who are loan sharks. You should be aware of unlicensed money lending in Singapore. Some of these loan sharks are clever enough to tell you that their agency is unlicensed because the business is too new to be on the government database. Try to research the good and legit moneylenders in Singapore to be safe. One of the best legal money lenders is Su Credit Singapore PTE Ltd. They have favorable interest, repayment terms, privacy terms, and terms and conditions. Loan sharks can trick you into getting a personal loan through: 1. Advertising to you through unofficial platforms using unknown or unidentified accounts These loan sharks might send you messages on Whatsapp, SMS, Facebook private messaging, calls, and flyers. This could be quite suspicious because “how did they get your phone number?” or your“Facebook account details” in the first place. This is where you should trust your instincts. Their advertisements and messages may look persuasive and attractive but please do not fall into their traps. Additionally, they get these private details using the wrong means that should make you doubt them. Licensed moneylenders in Singapore should only use business directories, consumer directories, social media official sites, and official websites as their advertising mediums. You should disregard these other weird channels of communication. 2. Offering you limitless amounts to be borrowed In the normal moneylending sector, there are some rules that one should follow when it comes to borrowing. It is your collateral value that determines the maximum amount you can get. When it comes to these loan sharks they offer you any amount without considering your collateral or even other assets. They also try their best to look generous and very considerate to you which is not quite normal in moneylending. This should be a red flag to you as an individual since the deal seems too good to be true. When you are in such a desperate mood, you may end up falling into their traps and when you fail to pay, get a lot of harassment. They may even end up auctioning your properties unlawfully. At times during repayment, they may claim some other hidden fees and failed payments that they initially never told you when you were signing the loan contract. When the deal is too good, think twice. 3. Minimal or no procedures followed These loan sharks can trick you by telling you that there are no documents needed when applying for the loan. You as an individual may get attracted to such a deal fast since maybe you have no work ID to show your employment status. Your identification card and residence may also not be asked but when it comes to money lending companies, they will require those details. These loan sharks give you an easy time in the beginning since they are aware of what you are in for in the future as they make their profit. 4. Make paperwork seem simple These loan sharks know that people do not like long processes and lots of paperwork. Hence, they make things easy. They also track people and lie to them about the policies in moneylending. This is where they trap people who are never keen when it comes to paperwork. Hence, they draft unreliable contracts. Their contracts may lack the repayment term, their legal obligations, clients’ rights, and legal measures in case of loan defaults. Please take your time when reading contracts. Loan sharks might even hurry you up in the signing of the contract to avoid you noticing that there are some missing elements in the contract. Be wise! 5. They try to convince you that there is no other option These loan sharks are very good in reverse psychology. They may talk to you and make you believe that there are no other options to get money apart from them. They will make you feel like you will remain miserable if you don’t get financial assistance from them. It is important to note that most of these loan sharks ask for your bank pin and other private matters regarding your family which should not be the case. You might even be charged a large fee in the name of processing fees which adds up to your loan resulting in a very huge debt. How to deal with loan sharks. There are various ways you can deal with loan sharks. These include: Report them to the authorities – This could apply when these loan sharks persuade you on taking the loan online without even showing you the contract. They might even be asking for your details that are irrelevant in moneylending. Try to ask for their location as a tactic then inform the authorities or the concerned party. Do not accept harassment They might try to harass you and force you to take the loan. Be firm on your stand and refuse to take the loan and find a way to get out of there. Conclusion Please be careful when you are planning to get a loan. Do not just go to any moneylender you hear of. You must do a background check to make sure that they are not scammers or something of the sort. Before accepting these loans make sure that the mentioned interest rate in the contract is a maximum of 4% per month. If you see a moneylender giving higher interest rates than that please do not sign the contract or take the loan since that is not legal. Most loan sharks are connected to other illegal businesses and criminal organizations. Hence, they could even be dealing with money laundering. When one is unable to repay the debt these loan sharks can even threaten your family or even take away all your stuff even those that were

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Debt Consolidation Loan

4 Reasons To Engage A Legal Money Lender In Singapore

Finding the right correct credit loan in Singapore

Monthly Installment Loan Lenders

How do loan sharks trick you into getting a personal loan?

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