Better Be Safe Than Sorry

Better be safe than sorry…. Haven’t we heard this line many times?

When facing any difficult situation whether it is a personal issue or a financial issue, this is a line which will be advised to you by someone who cares for you. We shall explain this via a story of our esteemed customer Miss Ketki Shah who accumulated a huge pile of debt and was stuck.

Synopsis – Miss Ketki Shah is a 28 year old woman who has been working with ABC bank since 5 years. She has gained a good salary hike and promoted to be the regional head of Mumbai. She likes her shopping and always splurges on online purchases. Her credit card bills have now been piling up. The amount is way above her salary. She has reached a point now where she can only manage to pay the minimum amount due for the bills. Her credit score is decreasing as the debt keeps piling up. What can she do?

Ruloans Advice:

  1. Miss Ketki ran into a lot of debt slowly because she never paid her bills on time and in full. That is something you must avoid. The first major rule of debt is that you must clear it as soon as possible. Piling it up will only bring you more tension.


  1. Miss Ketki also can keep a cap on her expenses in order to limit her spending on shopping. This also means that a budget needs to be made and followed with full discipline.


  1. Her best move now will be to take an instant personal loan. With the loan amount, she can clear off all her credit card debt. The main reason is that the interest rate charged on credit card debt can be more than double of what a personal loan interest rate would charge. Hence it’s wise to calculate the debt and take this decision accordingly.

Benefits of a personal loan:

Personal loan can benefit in many ways;

  1. You can apply for an instant loan and with the right documentation, get the loan disbursed within 72 hours*.
  2. Since this is an unsecured loan, you can get it without keeping any collateral.
  3. Another benefit of taking a personal loan is that you can use the loan amount to fulfill any of your personal or professional obligations.

Like Miss Ketki, please ensure that you don’t pile up a lot of debt at an early age. Limit on your spending and find the right balance between your income and expenses. Opt for taking a credit only for emergencies and urgent needs.

For any of your personal loan queries, you can always contact us at Ruloans as we always help our customers borrow right. Click here to find out about the best personal loans.

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