Topic: Bad impact when You carry out Online or Offline Loans on an ongoing basis - page 2. (Read 1136 times)

I know my self worth and I don't like it when someone come knocking at my door for debt, it makes me hate myself, it's humiliation.

This is why I stay away from loans and debt, what worse could happen if I don't take a loan or borrow money from someone? If I can't afford anything I would rather stay the same and wait for better days.

There are too many examples around me, it all went bad, so I've learnt from it, if you can eat even once a day be thankful and find a better solution, from there you will grow, someone who eat once in a day will one day be able to afford two meals in a day, I came from a tough struggling background and I walk my way up myself.

Normally loan has never been a good financial aid to borrowers. Though it is helpful for a immediate help of emergency but whereby the borrower is addicted to take loan always then it becomes a bad habit. Loan has frustrated many lives in the world and also render propertyless to many people in the world. When I was a little boy, my niece took loan from a from and she could not pay back the loan so they came and took all landed properties to settle the loan and she became empty and she frustrated till she died. Loan addict destroy people life.

Borrowing as a fact to pay back is not a bad move as it serves a means of interest to the lender and a financial solutions to debtor which is supposed to payback either on a 0% interest or more.

Majority of the lenders aims to have lending as a means of income while some are of means to help the debtor to fit solve his/her financial problems on a no income exchange

And you as a lender ought to determine what rate of % you are borrowing so as to utilize the money borrowed and bear it what whatever being borrowed is meant a payback in a due specific time.

The lenders would always be a better advantages than the debtors because it is always easy to give but difficult to return.
You borrows when you are seriously in need and choked obviously you are being desperate about it all to solve your financial needs within a specific time.


Untill you x-ray and Scan your financial status and stabilities, only then you would realize what amount of debt you are worth to help minimize debts.

Also important to consider whether it makes sense for you and your financial situation just as lending money to an individual would put a strain on your own finances and make it unhealthy to keep up your bills, it's probably not suit in undergoing.

There is said to be risk towards who lending as a two parties where the debtor maybe unable to pay in any case or by an agreed period of time while it takes the lender lot of resources in demand of what was borrowed and as a case maybe, probably may no be able to retrieve it back. This is why some some lenders would as for a collateral stake all to have confidence and easy of their financial recovery

The problem with this is that debt is constantly incentivised by providing payment facilities for everything, which only puts people deeper and deeper into debt.


The most normal thing is that they end up refinancing the house, it is very common. In other words, people who have equity in their house that they have accumulated after years of paying the mortgage, but at the same time they take out personal loans, use their credit cards, finance their furniture, etc. When the time comes when they can no longer pay the loans, they extend the mortgage in order to be able to pay the consumer debts. But this is a temporary solution and if they do not change their habits they will end up going bankrupt,

Well I think to carry out a loan on ongoing basis is bad. But it is better to do then to do something illegal.  I believe that I will never do something illegal for many reasons. I do not think I would be setting a good example to my children knowing that I can do everything possible to look and apply for a job to get me out of my financial setback.

But taking a loan is better then risking getting in trouble and going to jail. I can recall the times when I was low on cash and needed money to buy essentials or pay off my monthly rent. I had to reach out to a couple of my friends to help me out with money. And I always do my best to pay them back for helping me. But I do not like to go this on ongoing basis.

We are living on a world on which we are really that been shackled by debt considering that economical problems get worst and not all do ends up on having a stable or good paying job and sometimes
there are worst cases and moments on which it do comes into our lives on which it would be the main reason on why we do take up some loan.Its true that it isnt really that bad to have some loans as long you do know that you are capable on paying it off but as much as possible it would really be that wise that you should really be clearing up those things as you could because having debts or loans
is something that not recommendable because it would really be just messing up your entire finances and plans because you do keep on paying up with those interest on which it is something that
you should get to avoid. Doesnt matter whether you are dealing with offline or online loans because the effect would really be just still the same.Paying up loans by new loans? You are just putting
yourself into a bad financial situation on which i have able to experience the same thing wayback because i dont really have no choice when it comes to this.

The fact that you continue to borrow just to fully paid your first loans, then you are allowing yourself to fall deeply on the trap. This is a very wrong mindset and anyone who keep on doing that will never get rid of loans even after retirement.

It’s never bad to take a loan if the purpose is valid, and you know you can easily pay for it. But if you become too much dependent on it, you are not doing it for a valid purpose anymore, since you tolerate yourself that made yourself the one taken advantaged.

Loans are recommended only for experienced businessmen or someone who is already doing some business. Taking loan to start a business specially from Bank is a big mistake which many immature investors do. As a new business owner your money may struck up for indefinite period of time but Bank or any other lending agency wont wait for there money along with interest. Better to start a business with your own money, the one you can afford to lose.

A lot of people make the mistake of taking loans without any proper plan as to where they will use that and how they will repay it back, they don't have any business plans, and they don't even work or have any source of income that can be used to repay the loan back, so what they do is just take the loan, spend it on themselves and their household needs and when the time reaches for repayment, they sit with their hands on their head worried about how they will repay the loan.

I've also seen a lot of people who take loans only to gamble with them hoping that they will double the money and repay the loan and still have a lot of money left that they can use either on gambling or to buy things and stuff, but they just ignore the fact that gambling will eat the money up and that is exactly what happens.

It is true that sometimes the reason someone borrows is not only based on need, but there are also those based on the mere desire to satisfy lust and this is what we need to avoid. Because it's not uncommon for someone to be willing to take out a loan to watch a concert, for example because they think when they can meet their idol again, even though they can watch via live streaming. Or those who are willing to do luxury car credit with the aim of looking more capable,even though they can buy a regular car or used car with cash without having to take credit.

This ridiculous thing is often done by some people "They prioritize wants over needs and prioritize prestige over function" which in the end will only torture themselves.

  It is important for us to be grateful for what we have without having to compare it with other people "must be ambitious, but we also need to see the situation"

But there is something worse than that. That is, digging a hole to close the hole is what makes most people make loans continuously. The vicious cycle that never stops, making loans to pay off loans and again this is the most ridiculous thing that has ever been done by some people.

"What must be enlarged is your business, not your loan." Let's think clearly, bro, when you get a loan, it means you get the opportunity to grow your business, so take advantage of this opportunity while there are still people who believe in you.

And instead of having that mindset, it should be better to reverse it and think about the money and how will you manage to grow it the same manner how business minded people treat their loans, in most cases, those successful business owners even they've got a lot of loans they making sure that they've got passive income generated venues of investment to cover those loans, they will add loans but they first secure that they have enough resources to repay that loan and not just taking it without any future plan on how they can repay everything,

Same concept of same treatment should be inside from those people who are trying to barrow money, though there are many chances that loan is for emergency and we know how hard for minimum earners to repay that money, this might part of the exemptions but still the reality behind.

You barrow that money and it's your obligation to pay, else, you should think deeper before you resort yourself with this option.

It’s very sad to hear this news,because the guy was just 23 years.So he is very young person,who live minimum of 60 year.If he not get into loan problem,let his soul get into peace.The first and foremost one is the people should not take loan when they are in need.They should learn to save their money,when they are in need.The money will surely save him,even if their friends and family members failed.The loan collection people should not very rude with the loan people who take loan due to some financial difficulty.

Yes, they can be useful but definitely not for long term basis. The sad reality if you start to take loans is that you will become more dependent on the money that you will get from your loan, and everytime you have financial emergencies, taking loan will be your first choice without thinking that you can still save at some point to avoid resorting into loans knowing you have a stable job in the first place. It’s like that you become more dependent on your loan to the extent that you are only working just to pay off your loan and its high interest.

The problem with this kind of thing is that we often encounter borrowing first and then thinking about how to pay it when the installment is almost here. At least this happens to me because I often encounter this especially for some of my friends who make loans.
There are so many reasons that we will get just to make it seem as if this is the fault of a difficult economy so that we make loans.

When in fact if we explore further sometimes things like this happen because of our excessive lust for something and when we have a job or monthly income so we are bolder with the assumption that it can be fulfilled and can pay for what we borrow but in the end everything is not that simple.

I agree with what you said because it is wise to do this because you have to think about the risks that we will accept when trying to borrow.

Actually, if we look at the context of the loan, I think it depends on how the person making the loan is. for some people, a loan will be good for capital from a business or business being carried out, but for some other people this can also be inconvenient because the purpose of borrowing is only to support ourselves and the rest for us to use for pleasure.

Borrowing money is not an easy thing because if we are not careful with the use of the money we borrow, this can backfire on ourselves.
I personally will not prohibit loans because it is everyone's right, but if indeed we cannot face the consequences of borrowing, then it would be better not to do it.
I myself understand the qualifications that I have, so I better maximize what I have instead of having to try to borrow because I feel that I will not be able to accept the consequences.

Something extraordinary that you have ever done and hopefully this positive thing can continue until the end of your life.

So that's what I want to say before we borrow money, we must first think about how you can repay the debt. Because those who lend money just want to know that their money can come back with interest and all that regardless of all your efforts.

And I hope we can all be wiser when we want to make loans

If a loan is taken only to meet living expenses it will add to the burden, especially if we don't have a steady job to pay off the loan every month. It doesn't matter if someone takes out a loan to support the business they are running because it can be more productive. But we also have to have considerations when deciding to take out a loan, whether the business and business that we are in can develop or not.

Today many people have difficulty getting money and taking loans will only make people more problematic. Sometimes certain conditions make people have to take a loan because there is no solution they can do, even though they consciously know that taking a loan is not a solution in such conditions. But conditions force them to do it and many people I know do this because they have no choice.

Without realizing it the life we are living right now is getting out of control and jobs are getting harder for us to get, so that it can affect people in making ends meet. Reasons like these are what make people entangled with loans and the more forced they are, the more difficult it is for them to get out of the problem.

      -     It's hard to become a habit of debt, because once that happens in your personality, it will lead to addiction and it will be difficult for you to get rid of it. there. It's like the debt will become your chain, believe me.

only do the loan during the time you have an emergency reason. It's not that even if you don't have a reason to borrow or borrow, you'll still do it, it doesn't matter if you use it in a business that can produce money, it's okay.

Taking a loan would only be advisable on times or emergency or if you have concrete plan on how would you spend it. First one is given but the second one should be something that will generate profit to hekp you atleast , pay that loan. According to some of my friends who've been into different field of investments, if you have plans then take a loan and create or invest into a profitable investment then let that thing pay your loan for you.  The idea is there but unfortunately not all businesses are working smoothly even with investments ofcourse. Depends on how profitable the investment is but the minimum should be generating an amount that would help  or something which has atleast low risk of losing.

If you go by what one of the richest men in the world and arguably the best investor in history says, you should avoid taking loans/credit for anything except a low rate long term mortgage - where the value of the asset can actually outweigh the loan over the long term. Besides that, far too many people borrow money when they would be much more responsible if they saved up before buying the thing they want, which will probably depreciate at a much higher rate.