When you want to get a loan, consider getting one from a legal credit company rather than from loan sharks. The loan sharks make the borrowing process so easy, and you can easily fall victim. The problem always comes in, when they need you to pay up the loan.

They can be hostile and even intrude on your privacy, which can be bad for you. They can even start talking with some of your contacts, asking them to inform you to pay a loan. This can be frustrating. However, there are certain credible money lending companies like Oasis Credit Services Pte LTD.

A loan is some borrowed money that you take for a period. It can either be short-term or long-term based on the amount that you take. You can take up loans to buy certain assets, education, startup capital, boost your business, or when you want to invest in something. However, the terms of the loans differ in the different institutions.

1. Transparency, Effectiveness, And Straightforwardness

Legal credit companies are highly transparent, effective, and straightforward. Therefore, you are assured that the terms that they illustrate at first are the ones that will stick. You will even note how open they are about the terms without any hidden costs.

The application process is also easier. You just need to fill out the form and the customer agent will get in touch with you to provide more advice on the remaining process. Also, the customer agents are readily available, and you will get a response in due time.

You won’t have to research the site to get what you need. Transparency is really important because even when you have an issue like your income source has been cut, you can follow the right procedures to request for loan repayment period extension without accruing too much interest.

2. The Realistic Repayment Period And Interest Rate

Another reason to borrow from a legal credit company is that they have realistic repayment periods and interest rates. However, in most cases, the legal credit company will weigh what your current assets are before giving you a loan.

This is because as much as they would want you to pay up, they wouldn’t want you to strain too much while paying. That’s why you find the legal credit companies are mindful of that.

Also, certain loans are unsecured, and the secured ones require collateral based on the amount that you are borrowing. Therefore, regardless of the money that you are borrowing, you are assured that your request will be met.

Money sharks can decide to give you loans, however, they won’t care whether you are capable of paying. This is where they take advantage and even make your loaned amount seem higher than it is.

Therefore, consider just consulting a legal credit company. There are also some instances in which you can have a repayment holiday, in which you only pay interests in a certain amount and then later pay the repayment when no interest is accruing. You just need to consult the money lending agents well to get to know their favorable terms to prevent straining.

3. Wide Variety Of Loans

Also, you find that legit moneylenders have some great types of loans. You can find; personal loans, business loanswedding loans, holiday package loans, SME microloans, and business financing loans.

All the types of loans are unique and have different terms. A legal credit company tends to have unique terms. Therefore, you know what you are signing up for with the different terms. You will be sure that if I use this amount, you will just need to pay this amount later.

Also, you are assured that when you approach the agents, they will advise you on the best loan to take. However, in most cases, you can get loans based on your income and your needs.

They also have the policies well put to ensure that you know what you are signing up for. Therefore, even if you will need some legal support, you can always have standing.

Why You Shouldn’t Consider An Illegal Credit Company

The above reasons should convince you enough on why you need to borrow from a legal credit company. Here are some reasons why not to consider illegal credit companies.

1. They Can Harass You Easily

It is important to do thorough research before you consult an illegal credit company or loan shark. They will be nice when they are offering you the loan. However, when they give you the loan, you may note a change in their tone.

They will seem as if they are harassing you. In the case that maybe your source of income gets cut, they will find it hard to understand you. Rather than when dealing with a legal credit company that will easily understand you. They can even increase your repayment duration.

Also, when the repayment period ends, you can find that the illegal credit company can start sending you emails and SMS all the time and not listening when you say you will pay at a certain time.

2. High-Interest Rates

Their procedures for getting a loan are a bit easier. However, they have many hidden costs, and also the interest rates are high. In that time of desperation, you won’t think twice and want to get the loan fast.

However, the high-interest rates can frustrate you when paying back the loan. Therefore, you need to stick to a legal moneylender. The repayment period can also be short and this can be unfair for you.

3. Unrealistic Terms

The illegal moneylenders also tend to have some unrealistic terms. You will find that they don’t care about your well-being. They just want to give you the loan and get paid by you with an interest. That’s why it is important to check the various terms.


Regardless of how fast you need a loan, consider getting one from a legal credit company. If you get from an illegal money lending company, you may end up regretting it. Therefore, try to follow the due procedure to get an appropriate loan to suit your different needs. All the best as you take up a loan from a legal credit company.