- November 15, 2013
- Posted by: aarfinancial
- Category: BAD CREDIT LOANS, PAYDAY LOANS, PERSONAL LOANS
As with any other industry, there is competition in the loans industry. Lenders are always looking for individuals to lend to in the same way as individuals are looking for lenders. However, we have noticed in this industry specifically that lenders are sometimes providing a disservice to clients by lending recklessly, mostly to fill their own quotas. Individuals end up taking on too much debt and their credit score starts to suffer, which is the opposite of what should be happening.
Individuals shouldn’t rely on their lender to determine how much they can borrow but should rely on their own due diligence. Our suggestion also is to work with only one lender. Maintaining a strong and professional relationship with a lender allows the lender to understand the client’s needs and abilities so the client doesn’t end up being worse off. Another suggestion from us is, beware of lenders that have a quota to fill. This is a self-interested motive for providing loans and isn’t usually in the best interest of individuals.
AAR Financial works hard to lend responsibly. If we feel that a loan might in fact harm a client in the long run rather than help them, we will not lend. In today’s day, maintaining a strong credit score and healthy borrowing habits are important. We work with every client to make sure that they have the best financial plan mapped out for them for the long term.
Don’t end up worse off than before and always borrow responsibly!