Why you need an emergency funding Singapore
Even though debt does not add to anyone’s reputation, but life happens, and an emergency loan becomes imminent. From the term “emergency,” which means “sudden,” we are the right answer when you face such financial needs in Singapore. Avoid putting unforeseen expenses on credit. Apply for our quick loan today!
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Points to take note of before applying for emergency funds
· The need must be necessary
You don’t have to seek emergency funding when the need can be foregone, or you need to buy a new pair of shoes to match your new suit. This does not count as an emergency.
· You will incur more cost if you don’t pay
Your credit card debt will rise if you fail to clear them as they become due. Remember the interest are compounded. After a few months, the debt will become an emergency that must be paid, and it will reduce your credit score drastically. It’s pretty challenging to bounce back from a bad credit score. The best thing is to avoid anything that will bring it down.
· When it’s unplanned and urgent
You should only apply for emergency funding when you need to solve unexpected financial problems that were unplanned. This implies that the emergency wasn’t expected as you did not save for it. A good instance is a car accident.
Hence, when you apply for emergency funding from OT Credit, it is for your good to use it judiciously for the purpose reported.