The staff at Credit Review here, we all understand the mentality of a borrower. That is because we have once been in your shoes. Or probably still are in. Therefore, we are all in the same boat as a borrower when it comes to approach a money lender in Singapore. If you are a first time borrower, you are probably very apprehensive about what you are about to take on. There is simply too much uncertainty and things that you do not know about. If you have not taken a prior loan. There is the whole list of rules and codes of conduct you have to abide by. Additionally, the terms of the loan might at times seem too complicated for you to understand. Even when you do visit the money lender, their staff might not be proficient enough to explain it in such a way. In a way that you understand completely what you are getting into.
Let us presume that you do understand all these rules that govern the interaction between money lender and borrower. Also, let us assume that you do indeed understand completely what is required of you as a borrower. Additionally, you find all these terms acceptable. At this point, should you then take a loan? Our advice will be contrary to common conception. We at Credit Review think that even at this point, you still do not have enough information to take up a loan. After all, when you do take up a loan, you want it to be a good decision. The best possible loan you could have taken up under the very specific circumstances.
Of course, as you would expect, there certainly are reasons why we at Credit Review think so. Our main point remains this. Even if you understand all these regulations and rules, they are not nearly enough of a complete picture. After all, we do think that every one agrees. That there definitely are some black sheep, or bad money lenders that give the rest of the industry a bad name. These disrepute money lenders in Singapore exists. There is no doubt about it. But yet, this brings us to the puzzling conclusion that these lenders operate within the bounds of the regulations as well. If the money lender’s act that all money lenders are bound by is so complete and encompassing in regulating the behavior of money lenders, why is it the case that these bad money lenders are still out there?
A simple answer to this puzzle is this. These bad money lenders operate by exploiting loop holes within the regulations. This is why we at Credit Review think that even though all money lenders are regulated, it does not at all mean that all money lenders in Singapore are automatically good ones. In order to truly differentiate between the quality of money lenders, the best way is definitely through customer reviews. These are reviews by actual customers that have gone through taking an actual loan from these money lenders. Thus, they are also reviews that you can trust.
For any more queries, please feel free to leave us a review, or contact us by email, or simply, give us a call.