educate
with global uncertainty
More and more people have been struggling to make ends meet. While everything has increased in cost, wages haven’t kept pace. This growing gap has made life more difficult for many.
we understand
This problem and we want to help everyday people with temporary cash flow problems. However, our service shouldn’t be used to manage existing debt or as a regular source of ongoing credit. If you are already struggling with your finances then a Moni Market loan might just add to your problems. It is important to us that our customers use our loans in the correct way and don’t simply dig themselves deeper into debt.
coming from a finance company
This may be a surprise, but we don’t want our customers missing repayments, it is far better for us and for our customers if they are made on time. It is important to us that our customers manage their debt properly, we don’t want to see anyone get in financial trouble. If you are struggling with debt then a loan might not be the right credit option for you.
anyone can get into debt
Whether they’re on a small salary or recieving a large income, the problem is the same no matter how much you earn, people living beyond their means. It is actually quite simple to stay out of debt, there is one golden rule: spend less than you earn. That’s it. There are no secret rules or special guides.
obviously this is easier said than done
Staying on budget is incredibly hard, especially when life throws unexpected costs at us and simply getting by day to day is increasingly expensive. Being in debt is worse though, it is stressful and once you are in debt it can be difficult to get out of it.
if you are in debt
You need to work out a realistic budget. Budgeting is like dieting, a crash budget, like a crash diet, is doomed to fail. Make sensible cuts, ones that you can live with. If your budget is too severe then you are bound to fail. With a realistic budget you are more likely to stick with it.
you should also talk with your creditors
Depending on the lender and the type of credit, you might be able to extend the loan period, reduce your payments, suspend repayments for a short period, or even repay the loan early. Anything you can do to better manage your debt will ease the stress on you and your finances.
get help
From independent, government or other professional agencies. They are there to help and have all the right expertise and experience needed to guide you.
warning about borrowing
Moni Market specialises in providing fast little loans. You can borrow K100 to K2000 for between 2 and 12 weeks.
When you get a loan with Moni Market, you know exactly what you are getting. We promise there are no hidden costs, no small print and no nasty surprises. What you see is what you get.
Our loans have been designed to provide quick, clear and fair finance for people who need help making ends meet.
Moni Market Financial Services Limited is a registered company operating within PNG.
The Credit Agreement (Loan Agreement) will be governed by the laws of PNG.
- Establishment Fee – K25
- K28 extension fee should you require additional time to repay
- Interest is charged at 25%, 40%, per day on the outstanding balance of the loan based on the original loan size
- K30 wage deduction fee if you fail to repay your loan
- K20 default fee if you fail to make your payment
We will get in touch with you if any of your payments dishonour and if you have a genuine reason we will do everything we can to help you. If you are able to make the payment within 36 hours we will not charge a default fee of K20.
If we have not been able to come to some agreement after ten days, or you have dishonoured more than once, we will arrange to recover the loan by wage deduction.
If we still have not been paid in full we will lodge a default against your credit report, this may be followed by legal action.
If you have experienced some form of hardship e.g. sickness, redundancy, family bereavement—between taking your loan and your payment we will look to put a new schedule together without adding additional fees.
If you fail to repay your loan it will negatively affect your credit rating.
Moni Market loans are only suitable to improve short term cash flow requirements.
Any advice provided is generic in nature and may not suit your individual needs. If you are already in debt we would advise you to seek professional budgeting advice before taking out a Moni Market loan.
If you have any questions about our loan, or do not understand what you are signing you should seek independent legal advice.