Now to get a loan can be fairly easy. Various online loan providers are competing to get customers.
It seems tempting because you don’t need to fulfill the quite complicated requirements as requested by the bank. No need to fulfill complicated requirements, eh, you can get money. Yes, of course it must be returned, yes.
Even though it looks very easy, you need to be careful.
“Lah? Aren’t we the ones on loan? Why be careful? After all, the money is not our money? “, You might be confused.
Apparently there are some dangers if you choose the wrong online loan. Come, first consider the following characteristics and dangers.
1. Really forced to borrow
Everywhere it is usually the borrower or debtor who chases the lender or creditor. However, this time it was reversed, you were even persuaded to propose a loan.
You need to be vigilant because usually there is something that can’t be uncomfortable behind it. For example, they must meet the target number of borrowers to get income from high interest rates.
2. Instead, ask for money as a condition
There are also other objectives, namely collecting money from prospective customers. The loan provider lure you will give you the loan you requested. However, it turns out, the lure is just a mode to get money from you.
They are usually persuasive and eventually succeed in seducing prospective customers to give money first so that the loan terms are passed. Though not at all.
So, if someone offers you a loan or help you borrow from a bank on condition that you have to pay it first, you just reject it. It has been confirmed that this is only a mode for collecting money from potential customers who will be deceived.
3. The conditions are very loose
Already a little mentioned in the first point anyway, namely you do not need to meet strict requirements. One of them is that they don’t check your loan history.
You must know whether you meet the conditions or not. For example, you have bad credit, but the lender says it’s no problem. There are several possibilities, lenders give you very high interest rates or they just want your data.
4. Creditors’ credibility is very doubtful
Not only the credibility of the debtor that needs attention, you also need to pay attention to the credibility of the creditor where you will borrow.
One of the conditions is to choose a loan that is under the supervision of the FSA. That way, your data will be safe. Secondly, the interest system will be monitored so that it doesn’t suffocate.
5. There are no administrative costs
Almost all loans, both from banks and non-bank financial institutions, apply administrative costs. These costs will usually be immediately deducted at the beginning of the loan.
Now, if the lender says you just need to fill out an online form and won’t incur administrative costs, you should be suspicious. Especially if there is no further follow-up .
You might only be herded for personal data contents only. Gosh, it’s dangerous, right? Has anyone ever had the experience of being fooled by persuasion online loans?