Mika
VIP Contributor
Securing a loan can be difficult, however, when you manage to get a loan, you are also under a lot of pressure to pay back so loan itself is a risk. Sadly, there are also scams related to loans, and unfortunately loan scams are more common online compared to offline. One of the common scams related to loans is related to interest rates. A lot of lending companies frequently change interest rates, some even levy you heavily for early loan repayment. Some lenders are not interested on getting money back, they are rather after seizing collateral. Therefore, carefully choose a trustworthy lender. Understand the terms, and ensure your lender doesn't engage in fraudulent practices. Protection begins with awareness.
