Gambling and how it leads to getting bad loans

The time has come for all Chinese to celebrate and immerse themselves in the festive mood. Chinese New Year. This means a period of gathering, visiting the folks, catching up with relatives and friends. Aside from the New Year goodies, nothing thrills people more than gambling and it has become a part and parcel activity during Chinese New Year in Singapore. Gambling indeed is a big business here.

Especially during this Chinese New Year. A long weekend of celebrations, many gamblers visit the local and overseas casinos or slot machines at the local clubs.

Players head down to our very own renowned legalised casinos at Resorts World and Marina Bay Sands. Singapore’s own two casinos ranks in the top 10 as the world’s most expensive casinos. With both casinos worth a near 10 billion dollars and having over 600 tables of entertainment plus close to 3000 slot machines just on these two local casinos. We certainly have one the world’s best entertainment.

What about players with bad credit? These people turn to illegal gambling operators who might offer better rates. Regardless a large number heads down to the local casinos or slot machines to have some good entertainment. Besides with bonuses on hand as extra to their pay, everyone wants to get lucky.

However there’s always the unlucky few who end up succumbing to temptations and borrowing from illegal money lenders. Die-hard gamblers may even go to ruthless loansharks who are more than willing to loan them amounts they could never afford to feed their gambling addictions.

Problem gambling: When people become so addicted to gambling that they can’t stop, no matter how much money they lose or how much it hurts their loved ones. Which is why one should practise responsible gambling and smart choice of money lending if really needed.

Marina Bay Sands, Resort World Sentosa. Both in the Top 10 Casinos in the World

Marina Bay Sands, Resort World Sentosa. Both in the Top 10 Casinos in the World

Let’s Practise Responsible Gambling

Gambling is a form of entertainment. It’s meant to be fun but don’t get compulsive. So please practise responsible gambling if you love the game. If you are not careful it could land you in trouble. Always play within your means and your own risk appetite. This is why the local government implemented the Self Exclusion Act and even a hotline for those seeking to talk about their gambling addiction.

All these initiatives are supported by the local National Council on Problem Gambling. They have been actively promoting one to come forth and talk to them about their gambling habits and start practising responsible gambling. Seek aid when you need before it’s too late.

  1. Know your limits
  2. Practise Responsible Gambling
  3. Talk to your loved ones about your gambling problems
  4. Seek help if you have a gambling addiction
  5. Apply for the self-exclusion program to protect your loved one

The bottom line here is  “Be honest about it and practise responsible gambling”

Gambling & Illegal Lending

Now let’s talk about those who borrow from illegal moneylenders.  Those tempted to play time and again and borrow money from many sources. Your relatives will shun you. Your friends start leaving you. And you turn to illegal money lenders to support your lifestyle or your family. It’s common for people with bad credit to turn to illegal money lenders thus putting themselves in high risks.

This issue can be avoided if you have done your research better and earlier. All you have to do is consider your options and be sensible, once again play within your means. Apply for a loan when’s its needed and necessary.

If you need a loan in the short term to repay a small debt, apply from legitimate money lenders at the very least to get your own personal loan or payday loan. There are many legitimate money lenders out there offering competitive rates and fast cash for your needs.

Like this Chinese New Year you might be thinking of holding a celebration and money might be tight as the many festivities before CNY took most of your budget up. Consider getting a payday loan for a cash advance to help you out on the budgeting and you can settle it on your next pay cheque.

Payday Loan

Stuck elsewhere? Not an issue. Licensed money lenders have adapted to trends and most of them have the dedicated service to apply online and they will get back to you usually within an hour with quotes on your loan amount. Payday loans are simple short-term loans usually granted to let the borrower get throughout the next pay cheque.

It usually requires a simple approval from a licensed money lender. The lead time may vary, but it’s almost same day service. Empire Global is one such secure and licensed money lender offering flexible payday loan schemes.  This helps the borrower to tide over and ease his financial liabilities with additional assistance

Application Process

Speaking of your credit score, you should know that this is a major factor when it comes to the personal loan application process. To obtain this type of unsecured loan, you need to have decent credit and be able to prove your income by showing pay stubs. When you apply for a payday loan, however, you only need to show identification and proof that you can repay the amount you borrow by payday.

Always remember to place serious consideration when applying for a loan. Only take up loans from legal sources and borrow what you need. This way you can manage your money better. If you have difficulties in repaying a loan, simply ask and negotiate with your moneylender and the credit officers would be most likely be kind enough to draw up repayment plans or a better interest rate to suit your situation.

Some key points to take away

  1. Practise Responsible Gambling
  2. Avoid illegal money lenders
  3. Consider the options and get the right loan for yourself

Foreigner Loan

Empire Global is a great legal moneylender that provides foreigners with options when it comes to lending them money during any difficult times.

Things about bridging loans

A bridging loan is interim financing for an individual or business until permanent or the next stage of financing can be obtained. Money from the new financing is generally used to “take out” (i.e. to pay back) the bridge loan, as well as other capitalization needs.

Bridging loans are typically more expensive than conventional financing to compensate for the additional risk of the loan. Bridge loans typically have a higher interest rate, points and other costs that are amortized over a shorter period, and various fees and other “sweeteners” (such as equity participation by the lender in some loans). The lender also may requirecross-collateralization and a lower loan-to-value ratio. On the other hand they are typically arranged quickly with relatively little documentation.

Easy Personal Loan

  • Low income requirement
    Minimum annual income of $20,000 (equivalent to $1,667 per month). For foreigners, the annual income requirement is $60,000.

 

  • Cash of up to 4X your monthly income
    Get up to a loan amount of $200,000 or 4 times your monthly income upon approval if your annual income is $30,000 and above. If your annual income is between $20,000 and $29,999, you can only apply for a loan amount of up to 2 times your monthly income.

 

  • Convenient access to cash
    Your approved loan amount will be credited directly to your designated bank account.

 

  • Choose a repayment period that suits your needs
    Choose one of 5 different loan tenors to repay your loan. Either 12, 24, 36, 48 or 60 months.

 

How to get a loan

Everyone always hopes they don’t need a loan in an emergency situation, but sometimes these instances come up in our day to day lives. You never know when it is going to happen, and that is why Fast Loans exists. If you need money quickly and simply, Fast Loans can help. Fast cash can be yours after you complete an easy application. Your application will be processed immediately. It shouldn’t be difficult to get a personal loan, especially when you are in an emergency situation, and that is why this process is designed to be hassle-free.

What Can I Use A Fast Loan For?

These personal loans can be used for anything that you need. It can be very challenging to gather a significant sum of money in a short period of time, and that is another reason why Fast Loans exists. Here are just a few of the ways you might like to use your loan