We can help find you a suitable Loan
Moneytalk Scotland Ltd is not a loan company and so therefore cannot administer a loan or Mortgage to our customers, however with your permission we can take down all the information needed to complete a suitable loan application to be put to one of our working partner companies if we feel that a loan is going to be the right way forward for your debt situation.
Please Remember : robbing Peter to pay Paul has never been a good policy for solving a debt issue!
There are advantages and disadvantages that come with taking out a loan. Loans come in many different shapes and sizes. All with their own personalized interest rates and incentives. It can be a confusing business. This should make it easier:
Advantages of a Loan
- They are so easy to obtain these days – you can get them from anywhere.
- They are very flexible and can be easily tailored to your needs – it's just a matter of shopping around.
- They provide you with instant cash to spend on what you want.
- It will allow you to pay back the cost over a long period of time, which means lower monthly repayments reducing your monthly outgoings.
- Loans can be used to consolidate all of your existing debts, leaving you with one payment per month.
- Different companies have different policies, which will result in nearly anyone being accepted for a loan as long as you are willing to shop around.
- Applications can be made in various forms, over the telephone, online or in person.
- Most loans are deposited into your bank account within a week of applying. It's known as a quick fix.
- Loans are secure.
- Most loans are renewable or extendable.
Disadvantages of a Loan
- Due to how easy it is to obtain a loan, and in such short space of time these days, it can be common to be ill advised and unprepared for what is to come. Loans are a quick fix into major debt and the consequences are that you don’t realize what your getting yourself into in terms of monthly repayments and how long it will take to pay back.
- Loans can have very high interest rates.
- The cost of the loan in the long run may be substantially higher than you are borrowing.
- Missing payments and playing ‘catch up’ from month to month is an often occurrence
- You could find you pay more back than you first thought.
