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Don't Take Personal Loans Personally

Personal Loans are an important criterion in every individual's life at some

point of time unless you are king, queen, born rich or blessed with best circumstances. Personal loan is nothing but obtaining money for personal reasons such as marriage, medical expense, buying a gadget, holiday, pregnancy, child's birthday celebrations etc. There could various other reasons for which you might need money and these needs are at times critical, at times necessity or sometimes just fun. Personal loan is more connected with necessity, but only few understand this. Many considers Personal Loan as status symbol, people who opt for personal loans are people from a middle-class or poor background as perceived by people.

But, the truth is Personal Loan is more associated with Personal Needs of an individual and not the status. There is a small tragedy story about how Personal Loans is perceived in few countries especially the developing ones. A man was immensely wealthy, had huge bungalow and $ 500 Million worth business. He had three beautiful daughters and a very supportive wife. One particular day he lost his entire business because of a huge loss. The wealthy man was highly respected in the city and was a very popular talk amongst media because of his charitable instincts. As the loss in business hit his empire of happiness he couldn't face his children, his colleagues, his wife and the society. He was so humble and a man of self-respect he thought not to ask banks or well know people for Loans as that would impact his reputed image. He decided to commit suicide and he died.

The daughters and wife were bold enough to bring back the lost respect of the head of the family. They called a party with all the employees, well wishers and media and announced the need of Personal Loans and promised a return in years time with good interest. Because the man who dies was reputed and family was well know they got great response from the audience and with the hard work the women in the family became rich again just because of Personal Loans that came as assistance.

There are various ways you can opt for personal loan. Majorly you can follow the following ways to avail personal loan for you:

1.Bank Loans: Banks has a special category for personal loans where you can obtain a good amount at the standard interest rate that is at time negotiable on the basis of a security you provide to them. Bank follows a certain time limit process that you need to follow.

2.Loan from Friends: Taking a personal loan from friend is also great idea because you really do not have to follow tedious processes as in the case of bank loans. Friends do give personal loans on references and relations basis. You might get loan on less interest percentage too. But, remember if you are not able to pay the loan back you might lose all the respect you have gained.

3.Private Lenders: Private lenders are definitely a great choice at times when you do not want to undergo a lot of legal processes as in case of bank loans. Private lenders do not maintain any personal relationships as in case of loan from friends but private loan might be little expensive after all you can avail it easily.

The above are few thoughts on how and why personal loan should not be taken personally. It is just a process to fulfill necessity. So keep yourself cool when you need to decide on a personal loan.

Don't Take Personal Loans Personally

By: Deepakarora
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