Learn How and When to Take Loans

Sometimes we simply get overwhelmed by our numerous responsibilities and cannot control our personal financial needs which is why we take loans from friends, family members, financial institutions etc. – and as financial integrity demands, we should return what we have borrowed. All the same, there are factors that you might want to consider when taking loans.

  1. Liquid Asset/Available Money

The first thing to consider is how much you currently have (readily available) and how much will you continue to have (again, readily available) over the period of time it will take to repay the debts. This is usually influenced by the flow of money from your sources of income. It is important to know how much cash you have or will have at hand, because your available money will affect the debt repayment plan.

  1. Understand the Terms of the Loan

Every Legal Agreement comes with its rules and guidelines. It is important that you fully understand
the terms of your loans – and not just understand them but be faithful to them. Don’t assume but instead recognize where there are penalties for some actions. Keeping to the terms encourages your lenders to trust you and in turn, improves your chances of collecting another loan in the future.

  1. A Repayment Plan

In movies, every spectacular jailbreak or elaborate sting operation begins with the famous white board. A game plan. The need for a repayment plan cannot be exaggerated. It might require some strategizing and negotiation, but by all means create a way to pay your debt back.

A repayment plan helps ease you into repaying your debts. If you agree to spread the repayment over six months and you realize that you will be unable to keep up, it’s better for you to renegotiate the plan rather than to put yourself under pressure only to defer your payments. Loan agreements are like promises, and no one likes unfulfilled promises.

  1. Other Financial Obligations

Your debts do not cancel out the existence of other financial obligations, such as the kids’ school fees, monthly bills etc. While clearing off your debts, don’t leave your other financial responsibilities hanging. Also plan for them and prioritise them into your debt repayment plan. Sometimes, you can even take loans to help fulfil such obligations like school fees loans, cash loans etc. In conclusion, it’s always good practice to repay your debts. It is never advisable to collect loans without sticking to the agreement made with the lender.


  1. COLLATERAL FREE LOANS- Our loans are without collateral’s, it means we do not ask for your car, your landed properties or your mother’s birth certificates. You can take a loan and not lose any of your belongings.
  2. NO PRE-LIQUIDATION CHARGE- When you take our loans, you can liquidate at any time and not face any charges as we do not have any penal charges on your loans. You can walk into our branches at any time, liquidate and smile out.
  3. NO ACCOUNT OPENING- You do not need to open any special account or transfer your salary account to us before we grant you a loan. We accept any account that has been serviced over a 12 month period.
  4. QUICK TURN AROUND TIME- within hours of complete documentation, you would receive your payment. We boast of exceptional customer service that follows you all through your loan tenure.
  5. INSURANCE- All Credit Direct Limited loans are fully insured and so you are immune against issues arising from job loss or death. Another reason why you need to contact us today.

At Credit Direct Limited, we guarantee PEACE OF MIND. Get Quick Loans online within hours. (Emergency Loans, Payday Loans, Collateral Free loans today)
Call 01 4482225 or 0700CREDITDIRECT, you can send an email to cashtogo@creditdirect.ng or visit www.creditdirect.ng/apply


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