Other alternatives to a sms loans
We all know that being able to take out a loan with a single text message or phone call can be very dangerous because people start to live depending on the loans. Having a loan that is so easy to take is very tempting to most people and once they get themselves into the first loan, the cycle never stops. By the time they earn their salary, they have already taken out too much loan that the entire salary goes into covering it. So, in order to survive that month, they have to take another loan and that is how the cycle repeats.
In this article, I am going to look at alternative sources of money that one can use instead of going for ansms or payday loan. Only if these alternative sources of money don’t work that one should go for sms lån direkt.
Pawn shop loans
Like the name suggests, these are the kind of loans you get from pawn shops. The security for the loan is usually a valuable that you own, say machinery or jewelry. You take your item to the pawn shop and in exchange, you get a loan. You must produce a document that proves ownership of whatever item you take to a pawn shop, otherwise you won’t be receiving any money. You might also need to produce your government-issued ID, passport, or driving license.
The thing with pawn shop loans is that they can be extremely expensive too because the interest rate charged is usually very high. The rates will be communicated to you together with terms and conditions of the loan at the time of borrowing. You will have to sign the agreement. The agreement will indicate the item you provided as security and it will also indicate that you forfeit the item if you don’t repay the loan within the agreed period of time. The pawn shop retains the right to sell your item in case you don’t pay the loan on time and collect it.
Cash advance apps
Today, it is very easy to access if you really need it. There are so many mobile phone apps that have been introduced to help people access loans in a matter of minutes. In order to get the loan, you will need to start by downloading the app from the lender’s website or whatever other platform such as Google play and Apple store. Once downloaded, you can install it on your phone and you will be ready to go. This whole process is usually very simple and takes only a few minutes to be complete.
Loans from friends or family
If all the two alternatives I have discussed above don’t appeal to you and you still need money, then maybe it is time to consider talking to your friends and family members to see if they can help. Loans you get from your friends and family members will in most cases come without an interest rate and you will not need to provide collateral. The loan is given based on the relationship between the borrower and the lender.