Neither a borrower, nor a lender be. Most people by now must be aware of the old saying. It was meant as good advice because honestly, how this has burnt people’s fingers off over the years. It has been pretty punishing times at the worst. Many people have lost the roofs over their heads because of this. Irresponsible borrowing, credit too easy to get. Reckless lending and not a person in sight to stop them. But thankfully, those days are over. All future installment loans houston tx applications should be handled with the utmost care and responsibility.
The financial crash of 2008 may still be fresh in a lot of people’s minds. Apart from being cleaned out, people have become a lot more cautious and responsible. Let’s just say that lessons have been learnt. Even so, the micro-lending industry has now been regulated. There are checks and balances installed if you will. Rest assured that is not nearly the same as the risk aversion tactics practiced by the banking industries. It’s sad to note that many of the bigger banks who were too big to fail have yet to accept responsibility for their part in that financial crisis.
And while they have been bailed out, the public has not. Fortunately, the public have been given new loan opportunities. But for their own good, they must still exercise responsibility. They must never over-extend themselves, place themselves in a position whereby they simply cannot afford to repay the outstanding loan amounts. Fortunately, registered and licensed micro lenders never let things go that far. They usually only let you borrow up to an amount that you can reasonably afford to pay back.
Finally, their repayment options are usually quite flexible and affordable anyway.