Our modern lives are full of distractions and sources of stress are almost everywhere. Financially struggling individuals, who are already under a lot of stress can apply for an emergency loan and repay it on time provided everything goes according to plan. However, financial troubles can come out of the blue and you can find yourself in a situation where you are struggling to repay the monthly amount on time. Depending on the lender’s terms and conditions, it may be lenient or strict when you miss a particular payment. There have been instances where lenders have been unethical in their attempt to recover the loan amount.