Loan- YOU ask WE give .then , you, give, give, give….
Borrowing money no more invites any stigma. Perhaps, if you tell somebody that you never borrow money or that you have not got a credit card, there is every possibility of people laughing at you. Temptations and traps are many, through handouts papers hoarding TV radio and what not. All communication channels are clogged with sweet offers of loan at “UNIMAGINABLE” interest rates. When we get tempted and pulled towards the promises we become myopic towards all the microscopic sentences that appear in between your valuable signatures. And thereby hangs a tale.!. There are innumerable traps in between the words and many loop holes for them to escape along with your money and peace of mind. Your saga of suffering starts from the moment you get the feel of the colourful check leaf for which you affixed umpteen number of signatures. If you are weak in keeping accounts and poor in playing with inscrutable numbers(I believe many of us are not comfortable with numbers let alone the complex methods of calculating interest rates)you are likely to become mad when some complication arise regarding repayment .or interest payment. .Taking a loan is easy and closing a loan is difficult-isn’t it an irony. You are penalized if you are to preclose the loan.! So if you have the patience to deal with numbers or if you have the temerity to enter litigation and if you have the penchant for self torture go ahead and get a personal loan. But don’t take anything for granted.
Globalization has brought in the culture of borrowing through institutions and we are made to feel through beautiful words that everything has been designed to give you all the benefit at their cost. And the Indian middle class, who have already been made to believe that they have necessarily to climb the social ladder has already plunged into the quagmire of the complex world of debt instruments. .The web of debt is sticky and if you enter you should know how to come out of it also. When any drastic change takes place it takes place only in the middle class for they are always the proverbial cat on the wall who( like THE CHESHIRE CAT OF Alice in wonderland with its disappearing face) may turn into the fat HUMPTY DUMPTY who will fall and will have a great fall .So take loan if you like, but beware of the traps and holes lest you lose your sleep .
Any bank will give you a loan even before you ask for it .But be ready to be hunted down by the sales executives who will never leave you once they get at you .Take for a short term and do away with it. Keep the records clean for they are adept at telling lies. So be careful, Take a loan and enjoy your life till the last penny is burnt and the first repayment starts.
You take a loan
You gain status
They become rich
You repay the loan
They are unhappy
For you are their cows
To be milked dry
There is some bitter personal experience behind this, so you can trust