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Situations arise when you run out of funds and there is an immediate requirement for paying the instalment of your credit card, purchase of certain commodity or any service. For situations like refinancing the debts incurred on credit card, delay or failure not only leads to a penalty but it also jeopardises your credit score. PaisaDukan prevents you from getting indulged into such risks. We provide quick loans for such immediate requirements, keeping your credit score from being impoverished. You also get the added benefit of preventing you from paying any penalty for the incurred debts
A debt incurred while purchasing a good or service due to unavailability of funds is a Consumer Credit. Purchases made from credit cards, lines of credit as well as some loans cover Consumer Credit. Popularly known as consumer debt, Consumer Credit can be classified as follows:
Revolving Credit and Instalment Credit. Credit card is the most common form of consumer credit available in the market. Consumer Credit Loans can be used to finance the purchase of commodities or services for personal usage. Another use of such a loan is to refinance debts incurred for such purposes. Cash loans supplied by lenders and sales credit supplied by sellers are the common two forms of consumer loans.
Major reason behind the popularity of Consumer Credit Loan now in India is regular income of more and more people in the form of fixed wages and salaries. Also, now is the time when offerings to customer are huge and they can select from variety of product which ensures that there is some or the other goods or services for every individual present.
Consumer loans can be categorized in two broad areas: First, instalment loans, which are repaid in two or more payments; and second, non-instalment loans, which are repaid in a lump sum.