The Managing Director of Golden Pride Savings and Loans Limited, Mr. Johnson BoadiAsamoah, has stated that most people default in the repayment of loans because they usually do not understand the repayment process.
He said people are usually in a rush to go for loans without exercising patience to go through the process.
Speaking to Kasapa News, Mr. BoadiAsamoah said terms such as principal, interest components and loan duration must be properly understood before accepting the money.
Speaking passionately about this very worrying issue, he said some people also lie when applying for loans by claiming that they want the money for business and as soon as the money is paid into their account they forget about the business.
He said although there are some bad nuts in the system, there are some very honest people who always ensure that they pay their loans on time without giving the creditor any problem.
Mr. BoadiAsamoah therefore cautioned the general public to be extremely cautious when applying for loans and also take the pain to understand the repayment process.
He further appealed to various savings and loans companies in the country, to ensure that customers properly understand the repayment process before giving out money.
He said Golden Pride has very hardworking and dedicated staff whoare always ready to take customers through the loan process.
The company has ATM Cards which is accepted by all gh-link ATMs throughout the country.
Also available is the Western Union and Money Gram services where customers can quickly and conveniently receive money from family and friends all over the world.
By: Leticia Ohene-Asiedu/Kasapafmonline.com