Is this loaning agency legit?

Technically, there is still debt left and you owe money to the loan shark. One of your relative will stand as your guarantor and he or she will be the one responsible for your unpaid debts. Make sure to let them know so that they are always prepared whatever happens. Also, it is better to pay in full amount because it will not increase if there is nothing left, no interest will be added since there is no more unpaid debt.

Starting a business is a great idea but has a lot of risks. When your business has reached its limit, it will go to bankruptcy. It will surely go to liquidation to compensate the debts that has been occured to the creditors. Now, you can still open a business even though you have debts. It depends on the business you are planning.

If you need funds for your renovations, you should get a renovation loan instead of getting a personal loan. While a personal loan does the same job as that of renovation loans, banks and moneylenders check a person's credit risk and where they will use the money to determine if they should lend you money.

It is better to not take the loan and just borrow from someone you know because loans that happened in the hospitals makes those persons vulnerable. Most likely, there will be no contracts or whatever because the hospital is taking advantage of the situation of those who are in need. Most of those loans will surely have high interests that will make you free from your debt to the hospital but not from the bank which is the partner of the hospital.

It was technically legal because you will be the one to handle the money that you have loaned which means that you can do whatever you want to do with the money that is loaned. Just make sure that no law will be violated, specifically the loan shark law which is asking for an interest that is greater than 15% of the other loans. If this law has been violated, all the charges will be refunded and it will just bring hassle.

There are a lot of agencies in Sinapore that lends you money at a low rate than the banks. You can find them online, and they are acknowledge by the authorities of Singapore. There are times that when they mistakenly gives you the wrong loan that you requested. It can be that it is low or high. It is a mistake that may happen to anyone. You must report to the agency when it happens to you because they can trace which transaction went wrong.