I've read an article the other day about getting some loans and it offered a lot of useful information, thought I'd share them with you. 1. Look around - When hunting for loans, always check on every offer. Compare APR's. Don't just rush into one without ever looking at others. 2. Check if your legible - You know those tiny prints in brochures? Sometimes it contains information about qualifications. You don't want to jump into a loan only to find out in the 11th hour that you don't meet the conditions required. 3. Think of paying in advance - Of course it's unlikely but sometimes you might be surprised that you can pay of your debt earlier than anticipated. But beware of early payment fees. 4. Payment Protection Insurance - Before you say no to this, keep in mind that it has a lot of usefulness to some and it might work for you. It's there to insure your monthly payments whenever you're unable to cover it. 5. One at a time fellas - Don't go all willy nilly on loans. Yes it's tempting to just sign up for loans but if gets out of hand and you can't control them anymore, well that's going to be a huge problem on your part.
Another tip. Chances are, if you are thinking about getting a loan, it's a compulsive choice. Unless you really need the money, don't do it. Setting yourself a step back is not moving forward. Don't put yourself in debt. Loans are a bad idea 80% of the time.
I would add not only "thinking" about it, but intending to make it as an important goal to achieve. If you want it this way, a cleared loan means that you can access more, so the most efficient thing you can do is paying as soon as you can.
The requirements and the conditions for getting loans. At one point I was working for certain company and I was told that I was eligible for loans for quite a while. For almost 3 years I never really went out and took a loan. After quite a while I decided that it was time for me to get a vehicle and so I worked out my finances no way that I would be able to get a loan. When I was finally ready to apply for a loan I found out that I was not exactly eligible. I was turned down horribly and all of my plans were crushed. This is really sad for me as it had taken a long time of planning and thinking and so to realize the last second that it's not: out was pretty sad for me.
