A GetBucks online loan can be a great solution to life’s little financial issues. But, you should always consider your circumstances or any factors (permanent or temporary) that could prevent you from having a positive online loan experience.
When should I consider not applying for a small payday loan?
If it isn’t for something essential
Don’t put yourself in debt to buy luxury items or things that you can live without. A flat screen television, branded clothing or expensive perfume isn’t necessary for day-to-day living or an emergency.
If you can’t afford to pay it back
A GetBucks online loan comes with repayment terms. Depending on the options you choose, you have to repay the loan plus additional fees and interest within a certain time frame. If you know that it is impossible to do so, taking out a online loan shouldn’t even be an option for you.
If your employment situation is unstable
One of our requirements for granting an online loan is that the borrower has to be permanently employed. The reason? If you don’t earn a stable income, you simply won’t be able to repay your debt. If you know that there is a possibility of losing your job in the near future (e.g. if your employer is retrenching), or you are planning on quitting your job, rather don’t take out a loan. You will have a very hard time repaying a loan without a salary.
If you are already over-indebted
You should never let your debt pile up, because it can spiral out of control. Debt accumulates interest and the more you owe, the more interest is added to the total amount. When a credit provider does a credit check and they see that you are a bad debtor, they will deny you the online loan. Also: if you fail to repay your debt, you might be forced to go under administration or debt review. The law prohibits credit providers from giving you credit if this is the case.
Think carefully before you apply for any short term credit if its not for something essential. Responsible borrowing starts and ends with you.
For anything else, GetBucks is here to help!