How to Find A Legal Money Lenders?

When you meet financial emergencies, have you think about turn to money lenders? When you take money lenders into account, do you know how to distinguish a legal money lender in Singapore? As you know, lending money has fallen into plenty of people's scope of business. So, it is possible that there may be some fraudulent orgnizations in this market. In order to make sure finding a right legal money lender, there are some signs of legal money lenders.

Ways of advertising loan services

First of all, legal money lender in Singapore will not advertise their services through text message. Once you received this kind of message, and you happen to need a loan. Bear in mind, do not hurry to use the contect number there. As it is probrably a trap. In addition, when you need urgent cash, and you happen to receive loan advertising leaflets in the street, be mindful do not hurry to make up your mind when you saw the similar advertising. It is possible a minefield. Because the legal money lenders are banned to advertise their services like two above ways.

Location of meeting

Generally speaking, legal money lender in Singapore have their own settled office and money providers usually deal with these affair in office. Once your meeting was happen to coffee shop or other place, it may be a trick. And if you find they even don't require a meeting, it is suggested to walk way. It is common that lenders will require you to submit some related documents. So, meeting can not be skipped.

Searching money lenders online

As stated before, there are many people conducting this business. Some unlicensed money lenders may use other licensed money lender's license numbers to advertise their services. Thus, it is imperative for you to visit the IPTO website to see the result. And making sure the number of license should be the same as the number found on the list of licensed money lenders in ROMO(Registrar of Moneylender's Office).

Explaining the terms of agreement

At the last, before making your final decision, you have to make sure that you have fully understood the terms of loan agreement so as to avoid the biased treatment. Especially for those who is the first time to take out loan, once you fail to search for these relevant information, don't worry about that. If you have any questions about the terms of agreement, just ask money lenders. They have obligations to explain to you clearly.