Pay Your Loans On Time

June 7th, 2010
Tell me who doesn’t have loans? Me? Got an existing loan from a cooperative which I am a member. One is an Auto Loan which will be fully paid this coming October. I am planning to get an Educational Loan for my girl’s School Enrollment. I am planning to fully pay his one year tuition since I am already tired lining-up the cashiers booth every examination day.
It’s good to have loans in times of emergency and other financial needs but it really takes to have discipline to pay your monthly amortization on time. What I am doing now is to issue Post Date Checks ( PDC) for my monthly payments . There’s no reason for delays…. I can not afford to pay the huge bank penalty for issuing check with lack of funds. I do not want to be a bad credit loans member of the cooperative since it will lessen your points. The lesser your point the lesser the benefit you will get. You will no longer be allowed to get a loan 3x your deposit and share. Your petty cash loanable amount will be decreased too!Anyway, my point is.. be a good steward of the proceeds of your loan so that you can pay it diligently too!

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