Buona Vista is home to everything regarding food and cultural attractions in Singapore. If you’re hungry and need something more than the usual hawker stalls in your area, visit Buona Vista and find a great variety of cafes, restaurants, and malls.

Summary of Top Legal Money Lenders of 2022

However, make sure you don’t fall short on cash. You can always count on Singapore’s licensed moneylenders to help you with all your financing needs.

How to Avoid Getting Scammed by Loan Sharks

Even with the Ministry of Law enforcing the Moneylender Act of 2008, many loan sharks still work in unregulated environments. They use illegal means of reaching out to unsuspecting borrowers. To avoid getting into an inescapable debt spiral and the harassment of loan sharks, here are four easy ways to do so.

  • Check The Registry of Moneylenders
    The Registry of Moneylenders holds the biggest number of licensed moneylenders you can work with within Singapore. These are legitimate businesses whose owners have received a license number and comply with all the regulations of the Ministry of Law. In doing so, they ensure the borrower’s safety at all times.
  • Compare Reviews on Reputable Lending Websites
    Truthfully, you’ll find hundreds of licensed moneylenders to work within Singapore using the Registry. Therefore, you can measure and anticipate your lender experience by visiting reputable comparison and review websites. Check what former borrowers have to say about their successful or poor experience with any lender.
  • Ask For Their License Number
    If you have a prospective lender in mind and you couldn’t find them in the Registry, ask them for their license number. Refuse to continue using their service if they cannot present it to you. It’s highly likely they’re loan sharks and will put you and your finances in harm’s way.
  • Observe Their Outreach Method
    All licensed moneylenders can only establish their digital presence through a website. Additionally, all their bills and advertisements they should only do on their physical location. If they call, text, chat, or email you, consider those as illegal communications from illicit lenders and loan sharks.

Avoiding Getting Deep in Debt With a Personal Loan

Prevent yourself from getting into problematic financial situations by using a personal loan responsibly using the following steps.

  • Assess Your Financial Situation
    If you’ve recently resigned and had debts to pay, resist the urge to apply for a personal loan. The 4% interest rate and loan fees will highly likely affect your repayment capability. Plus, lenders who assess this case to be true will outright reject your application.
  • Read The Terms and Conditions
    Avoid being blindsided by penalties and other conditions unfamiliar to you. Read the terms and conditions, including the finest print on paper. In doing so, you’re fully informed of all the consequences and responsibilities you have as a borrower.
  • Budget Carefully
    If your income-to-debt ratio seems to go beyond 40-50%, reconsider having your financing until you can pay off your existing debts.

Get All The Information and Data You Need From Moneylender Review

If you need the latest data on the best financing deals and other information you can compare the best money lender in Singapore with Moneylender Review’s top-notch search algorithms. Get your three free quotes from the best licensed moneylenders in Buona Vista today by simply filling out this quick and easy online form!

List of Money Lenders in Buona Vista

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