10. How to apply for a Personal Loan with a legal lender?
Simply fill in the form above, and our system will match the best moneylender to you. Our consultant will then contact you for further discussion.
11. What is the loan process for a Licensed Moneylender?
You will be required to visit the licensed moneylender’s office personally.
Firstly, you will need to fill in an application form. This is to allow the loan consultants to run a report and check the necessary documents. This form does not mean that you have taken the loan. It simply authorise them to conduct their credit assessment to comprehend your financial condition.
Secondly, after all the credit checks have been done, the loan consultant will then work out a suitable loan repayment plan for you.
Thirdly, the contract will be created and both you and the loan consultant will sign the loan agreement.
Last of all, the loan consultant will then disburse cash to you.
12. What are the types of loans that Licensed Money lenders offer?
There is a huge variety of loans on offer.
- Personal Loan
- Business Loan
- Renovation Loan
- Wedding Loan
- Debt Consolidation Loan
- Holiday Loan
- Payday Loan
For any reason that you may need a loan, the money lenders that we have found will be able to customise it for you even if it is not listed above.
13. How do I know when is my payment due?
All repayment dates will be clearly stated in the loan agreement. Additionally, we have requested for the companies to send you a reminder beforehand. This is to ensure that you make the necessary payment on time and thus not incurring any late charges.
14. What are the payment methods available?
You can do so by:
- Paying cash in the office
- Transferring to their bank account
- PayNow / PayLah
15. What happen if I’m unable to make payment on time?
If you’re having troubles with your payment, always notify the company ASAP. You can work out a new payment plan with them.
Please note that there will be late charges involved in the event of late payment.
16. How will a Licensed Moneylender take action against default payments?
In the event where the borrower becomes uncontactable, the lender may send a debt recovery team to your residential address.
In addition, they can also take legal action against you by engaging a lawyer.
To prevent such troubles, always make sure your payment is done on time. And if you are having any problems at all, always speak to the company to try and work something out.
17. What happens if I am no longer able to service my loans?
In case, you find yourself in overwhelming debt with several financial institutions, here are the following options you can consider: