Monday, 12 January 2015

Watch out for traps loan

Borrow money from someone may be associated with the same, and sometimes even higher risk, which provide their own money at the disposal of another person, or institution. Unfortunately, many people continue to borrow as long as any of whom. Why is it not worth it?

The law

The first and fundamental principle of any borrower should be - always read the contract and all its provisions are clear to me. This is so for two reasons. The first of these is that, by adopting borrowed capital is not only acquire the right to use borrowed funds, but are imposed on us as responsibilities that we have to fill. So it should not be up to a situation where we sign a contract, thereby agree to its terms, and we are not aware of them. The second reason is that, unfortunately, the financial services market is no shortage of scammers who deliberately will want to enrich themselves at our expense. Very often used by their practice is intended contractual complication in order to confuse and / or mislead a potential borrower.

The reputation of the institution

We must avoid unknown to us, the institutions, and hence, do not use a potentially higher risk-bearing loan companies services. These are the first entities uncontrolled, and secondly the amount of actual annual interest rate of a few thousand are not uncommon for them.

Slimming loan from bank offers, or Cooperative Savings - Credit, is subject to a significantly lower level of risk. However, like a mantra to be repeated - always read the contract and all its provisions are clear to me.

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