Sep 16, 2010

Financial Crisis

In times of financial crisis, who refuses to grab the opportunity of getting a loan? But before committing yourself to loan, be sure you know the terms or policy of the lender. Once you get into this situation, responsibility should be observed. You should be responsible with settling your obligation.

When I was in a very tight budget, I took the risk of applying for guarantor loans. My co-employees asked me if I am interested to join their group for they were planning to apply for a loan also. The processing took two weeks because we were six in the group. When the group application got approved, I had mixed emotions. I was happy yet worried. What if I couldn't make payments on time? I thought I will be into a big trouble because my salary is just enough for me and my family's daily needs at that time. There's no turning back, I had the money and, honestly, I had a couple of important matters waiting ahead for it. But with easy convenient payment terms I was able to pay my loan.

It was kinda hard to get into that kind of obligation. However, it was really a great help for me.

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