In the 21st century, when you hear the word borrow, the first thought that strikes your mind is probably getting a loan.
It is so because the practice of loan acquisition has become so popular that there aren’t many households left who do not have some loan obligation that needs to be paid off.
There is nothing wrong in borrowing money, even if it means that you will have a debt on your head.
- A loan can help people overcome their difficult circumstances that would have been impossible to otherwise.
- A loan can help people to get the things they desire sooner than they otherwise could.
- A loan can help people worry less about money and more on themselves and their dire situation.
- All in all, a loan is nothing but a saviour. It was created to bridge the gap between a person’s budget and his wants.
I am writing today to give loans a little more credit than they often get. I will be doing this by highlighting three scenarios wherein a loan became the saving grace, making the borrowers eternally grateful for them.
The Financial Setbacks
Life can give you all the successes if it wants. And it can also give you a fair share of failures. It is unpredictable like that. When the fault is personal, we can try to recover from it on our own. However, when the setback is financial, it requires outside help.
- A business predicament which can mean the end of the establishment.
- An investment loss that took with it all your savings and security.
- An innovation that brought with it more expenses than income.
These are just three examples out of the hundreds of other money conundrums we have to deal with. Overcoming all of these requires funds.
And these can only be brought in through a loan. Very bad credit loans with no guarantor and no broker is one option for the borrower who does not have an excellent track record with his finances.
Desiring More Than Your Pocket Can Handle
In the majority of households all over the world, a significant gap is between the income level and desire. This difference is more prevalent in middle-class families. A loan often helps them to shrink that gap to almost non-existent.
The middle class cannot be regarded as inferior; they have more than enough funds for their survival, just not enough to buy expensive things for themselves.
- A three-bedroom duplex in the countryside with a front yard and a kitchen garden in the back.
- A Dodge Challenger that has been the dream car since the boy was 12.
- A college education that could make someone transcend the middle-class barriers.
These are the wishes of the middle class. They are not too fancy, but slightly more than they can handle at once. However, they can repay the entire amount in portions over time. And that is the concept of a loan to be repaid in monthly instalments.
We go to work every day to support ourselves and put food on the table three times a day, which will keep us healthy to go to work again the next day. Now, what if our health is not with us? Being sick is pretty standard, the flu has been everyone’s visitor at least on a year.
Some ailments are so severe that we have to take a leave of absence from work. And the most unfortunate of us are given the same permanently.
Imagine you just got to know that you had an abnormal mass in your stomach when you went to the Emergency Room to get something for the stomachache.
That mass is cancerous and would need surgery. Your insurance would not cover it since the surgery is elective. What do you, then? Choose life filled with debt or death?
Loans for bad credit with no guarantor for people on benefits could help you get that surgery, recover from it and get a job once you are back on your feet.
Now, tell me how anyone can regard a loan to be anything but a blessing?
In the end, I hope that at least some of you must have had a change in perception towards the practice of borrowing money. You must not think of a loan as a burden, but a getaway to better times.
Yes, it does entail a debt that will hang over your head. However, you must also appreciate it for the things it has made possible for you to gain.