STOP THE MONEYLENDER RELOANS
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Have you heard the following line from your Licensed money lenders?
‘Our quota cannot lend you anymore, but I can intro you my friend company, you can go there and take more to cover’.
This basically means you are in trouble! You are borrowing more to cover your repayments and, in most cases, your monthly repayments actually amount to more than what your earn.
These reloans are designed to keep you in the loop. You will essentially be their favourite customer because the interest and admin fees they charge you becomes recurring income for them. This can go on for years unless you decide to do something about it.