Quote from: stomachgrowls on February 11, 2025, 08:19:09 PM

Quote from: Judith87403 on February 11, 2025, 07:52:36 PM

Quote from: Nothingtodo on February 10, 2025, 10:54:12 PM

Quote from: Queentoshi on July 16, 2022, 09:59:37 PM

Over the week, a friend and I had a conversation about loans and loan apps and she shared a bitter experience of how she was unable to write a very important exam because the money meant for payment of fees to qualify for that exam was deducted by a certain loan app that she collected money from a while ago. Who will you really blame? My friend for not paying up as at when due or the loan app for not notifying her before the deduction.
In all, I advice that we should try to avoid any business with loan apps as they seem to be very numerous these days and are easily accessible. Most importantly, You should know that you are at the danger of developing a habit of borrowing from them if you patronise loan apps even for the smallest amount.

I don't see any fault in the loan company, as your friend must have taken the loan knowing the terms and conditions before taking the loan. The loan company will choose any method of loan repayment and in this case, if a bank account or mobile phone app is connected, it will definitely deduct the loan. This is mentioned in the terms and conditions before taking the loan.

Of course that's exactly how most of the loan applications works, me too I don't see any fault in the loan company. perhaps they're still making things easier for us, probably when emergency issues come up and if it is something that requires money. And in some cases it might be that you're left with no money in the initial time, maybe you're still expecting money in two weeks time as the case may be.

But with the help of this loan applications you can be able to sort it out by taken a loan from them, probably when you get paid then you can pay back the loan even before the due date. but failure to do that can bring a negative result, so what I'm trying to say is that this loan apps is very helpful. But the only reason why we are seeing it the other way round is because we are not keeping their terms and conditions.

It is really that indeed a thing that could save us in times of need or emergencies and come to think that you have come to them or asked out voluntarily or according into your own will or not being forced. The shit thing about these loan apps or companies is that they are that putting up that huge interest but since you are in need then there's nothing you can do but to deal up with those rates. Its true that we are just that focusing that much about into its imposed interest on which this is really that incredibly high. You arent that liking their terms but still you did continue to take up some loans and agree with it and since you are in need of money then you will be just that accepting it.

Taking up some loans for emergencies isnt bad as long you are responsible on repaying it. You dont have no choice but to deal up with those interest and as much as possible is that you wont really be getting anymore loans because that will surely hurt your finances on paying up. They arent called loan business in the first place if they arent that making up business. Therefore, its really that important that you do really set out some emergency funds for you on not to have that tough situation.

You're right setting an emergency fund can also help us in such situation unlike as you said, you know is easier to say than done. What I'm trying to say is that not everyone that can have the idea of setting an emergency fund should incase any emergency issues pop up, And this set of people will be so ignorant to take loan from those loan applications, is obvious that we are in a modernize world.

but I want to tell you that not everyone that knows about setting an emergency fund, They always have this hope that whenever there's an emergency that they must surely look for a way to figure it out. and sometimes they might not even do it online. probably they can decide to do it physically, I'm pretty sure there's no different between online loan and the ones we do physical.