Introduction

Hi there, my name is Sherman and I will bring to you the experiences that I have that regards to loans that exist in our society.

We are all talking about loans nowadays. Loans have become an option that we cannot avoid especially in this current society. There are so many instances where we are subjected to the option of getting a loan from the bank, firms or from our insurance agents. There were times before when money is not a problem due to the prices of our living standards then. Now times have changed and everything is so expensive. Last time was just a problem of the hundreds. Now it might become a problem by the thousands. There are many instances where we want to invest in our luxuries but the amount of money that we have to put forward to invest in ourselves can sometimes be so much that it is  too much to ask from our friends or loved ones.

So what are the possible options can the loan give us when we choose to take up its scheme? What benefits can they offer? This will boil down to how much do we know and understand of the different characteristics of different loans. There are different kinds of loans around us and I am here to share one of the most commonly used loans in our society, especially Singapore.

This is the payday loan. In this blog, I will share what is the kind of loan is payday loan. What are the characteristics that the loan can offer that is so different from the rest. What is the underlying condition, risks, consequences and the pros of using this loan scheme? Where do we approach to get this loan? Who are the people who can be involved in this scheme that will help to benefit them?

These are the many questions that pop into our heads once we start to realize that we actually only know this much about loans compared to when we are asked to define what a loan is. Anyone can easily define what a loan is from the look of the dictionary. But not many can walk the talk. We have to understand what we are dealing with instead of just jumping the gun early. There are many circumstances where we just want to get things done and not consider what will happen should anything go wrong because it was some we neglected in a clause somewhere that we just did not give attention to.