Financial Basics
Written by Erz on Thursday, January 26, 2012Consumer debt is becoming a more serious problem in society, especially with the proliferation of credit cards and loans. Always remember to do your research, understand the terms of your debts and your liabilities. Get a trained financial adviser should you be uncertain or need an expert voice.
In managing your consumer debt properly, you are likely to be able to better ensure your financial security into the future. This is basically your ability to continue living as you are now, without a drop in your living standards in the future. Prudent financial management is everyone's responsibility so do be proactive in securing your financial security.
While you are planning your financial future, do take some time to familiarize yourself with the financial policies on this website, where applicable.
Important Note - Disclosure of Fees and the Renewal Policy
1. What happens if I’m late with my payment or if I don’t pay at all?
Additional fees will more than likely occur in the event of a late or partial payment. Failure to pay will result in legal action. The non-payment may also be reported to a consumer reporting agency.
2. How much will the loan cost?
The cost of the loan and the APR depends on your application. The terms are disclosed in the application process when you are directed to the lender’s website. Unless you sign the application, you would not have accepted the loan yet. If, when the terms are disclosed, they are not acceptable to you, you do not have to sign the application.
3. What is your renewal policy?
Renewal policies are determined by the lender, not by us, so they will vary. But, do be aware that some lenders may not debit your account for the full amount of the loan, which may result in additional fees and a renewed loan. Make sure you read the renewal policy carefully and make your wishes clear to the lender.
Additional fees will more than likely occur in the event of a late or partial payment. Failure to pay will result in legal action. The non-payment may also be reported to a consumer reporting agency.
2. How much will the loan cost?
The cost of the loan and the APR depends on your application. The terms are disclosed in the application process when you are directed to the lender’s website. Unless you sign the application, you would not have accepted the loan yet. If, when the terms are disclosed, they are not acceptable to you, you do not have to sign the application.
3. What is your renewal policy?
Renewal policies are determined by the lender, not by us, so they will vary. But, do be aware that some lenders may not debit your account for the full amount of the loan, which may result in additional fees and a renewed loan. Make sure you read the renewal policy carefully and make your wishes clear to the lender.
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