Bad impact when You carry out Online or Offline Loans on an ongoing basis - page 5.

Swordsoffreedom

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Quote from: xSkylarx on July 13, 2023, 08:30:24 PM

Quote from: Botnake on July 07, 2023, 03:59:55 PM

Quote from: Webetcoins on July 03, 2023, 10:05:14 PM

Those online loan sharks are pretty dangerous and people really need to stay away from them. In my country, these online loan services provide loans to people who are in need of money by advertising their services all around pretending they are doing a great thing and they don't ask for a lot of money, but the reality is different, they have very high-interest rates that keep increasing with a significant pace if you get late for the repayment.

Basically, one should avoid any kind of loan unless they are 100% sure that they can repay it on time, because if you can't repay the loan, you will be compelled to take another loan to pay the first one, and that series continues and you might end up getting in great trouble that you might not be able to come out from.

Having offline and online loans for long term will certainly bring no good in your life. Yes, you maybe benefiting at first and used the money according to your means, but when it’s time to repay it and suddenly your income has been going bad, then that’s the start of your problem. You will never pay your first loan without compelling yourself to apply for another loan. That cycle will keep on repeating until you find yourself not having anymore to earn or save. One thing that we should avoid doing while we can still manage our finances.

If we could just not take a loan, it would be better, but again, there are times that it is needed because we need that money and we don't have a choice, but first we should see if our salary is still enough to pay it, and if not, then let's try not to take that loan because it will just make branches like what you've said, taking another loan just to pay it. If we are just taking out a loan to buy expensive phones or stuff, then I think this is not a good choice. With a loan, you just save and buy it in cash.

I believe that only people born into wealthy families do not need to borrow money, and for people from ordinary families, borrowing is an inevitable part of life. Everyone goes through it once or a few times in their life.

Exactly, we should stay away from loans, whether online or offline. But life is always full of surprises and difficulties, and if there is no better solution, we can consider borrowing. And as you said, as long as the loan amount is not too large and not beyond our ability to pay, borrowing is normal. Do not put too much emphasis on the problem of borrowing as evil and should be absolutely avoided, depending on the situation we encounter, we have a specific plan.

benalexis12

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It's not really good to borrow from online apps these days, it's been trending here in our country in the news because there are other loan apps online that don't charge their borrowers correctly.
Think about it, one of the methods used by online apps is that they sent a car with a coffin in the name of the person who owed them money, then there was a threat made, it was really foul and below the belt, it was a lot of harassment . So the borrower is more stressed. So what our government has done here is that the online apps that are purely harassing are charging, the company has been shut down due to the violation.

xSkylarx

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Quote from: Botnake on July 07, 2023, 03:59:55 PM

Quote from: Webetcoins on July 03, 2023, 10:05:14 PM

Those online loan sharks are pretty dangerous and people really need to stay away from them. In my country, these online loan services provide loans to people who are in need of money by advertising their services all around pretending they are doing a great thing and they don't ask for a lot of money, but the reality is different, they have very high-interest rates that keep increasing with a significant pace if you get late for the repayment.

Basically, one should avoid any kind of loan unless they are 100% sure that they can repay it on time, because if you can't repay the loan, you will be compelled to take another loan to pay the first one, and that series continues and you might end up getting in great trouble that you might not be able to come out from.

Having offline and online loans for long term will certainly bring no good in your life. Yes, you maybe benefiting at first and used the money according to your means, but when it’s time to repay it and suddenly your income has been going bad, then that’s the start of your problem. You will never pay your first loan without compelling yourself to apply for another loan. That cycle will keep on repeating until you find yourself not having anymore to earn or save. One thing that we should avoid doing while we can still manage our finances.

If we could just not take a loan, it would be better, but again, there are times that it is needed because we need that money and we don't have a choice, but first we should see if our salary is still enough to pay it, and if not, then let's try not to take that loan because it will just make branches like what you've said, taking another loan just to pay it. If we are just taking out a loan to buy expensive phones or stuff, then I think this is not a good choice. With a loan, you just save and buy it in cash.

wxa7115

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Quote from: yudi09 on July 08, 2023, 03:05:35 AM

Quote from: moneystery on June 30, 2023, 06:51:56 PM

-snip-

Avoiding getting into debt as much as possible needs to be done.
Debt is a burden that will hinder people in their activities because it will disturb their minds.
Many negative cases have occurred due to debt and the worst is the loss of life.

There are places where debt can help grow the income earned, such as in many big businesses.
Businesses go into debt because they see the potential profits that can be earned in large amounts when calculated at the end of the year.
If the capital is sufficient from the profits earned, then that is when they decide to end it by no longer continuing to be in debt.
Indebtedness is not not allowed, but it must be patterned properly and should not be forced to continue.

Not only that, in the case of large debts like a mortgage you are in a way betting that you will be able to keep working for decades to come without losing your job, suffering an accident or the economy crashing along the way, and if you lose that bet not only you will lose all the money you invested in that asset but will also lose the asset itself.

For this reason is imperative to avoid getting indebted as much as possible, and if we do not have any other option then we need to reduce that amount and to pay the loan quickly as well.

yudi09

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Quote from: moneystery on June 30, 2023, 06:51:56 PM

-snip-

Avoiding getting into debt as much as possible needs to be done.
Debt is a burden that will hinder people in their activities because it will disturb their minds.
Many negative cases have occurred due to debt and the worst is the loss of life.

There are places where debt can help grow the income earned, such as in many big businesses.
Businesses go into debt because they see the potential profits that can be earned in large amounts when calculated at the end of the year.
If the capital is sufficient from the profits earned, then that is when they decide to end it by no longer continuing to be in debt.
Indebtedness is not not allowed, but it must be patterned properly and should not be forced to continue.

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Quote from: southerngentuk on July 07, 2023, 11:34:53 AM

Loans are always a knife. If you do not have a steady source of income, it is very dangerous because it is difficult to control being caught up in a loan that you do not have the money to repay. Although it is possible that many people rely on a loan to be able to start a job as well as create a new journey, But that is because they create a plan in advance and have calculated risks, whereas many people, I find, borrow money for no reason at all. Simply satisfy your desires, so don't try to borrow money without a really good reason, because otherwise that knife will ruin your life.

Even millionaires are taking loans it depends on the person who takes those loans if you are taking a loan because you want to buy something which is a liability you cannot make it pay easily instead, you are suffering to your debt, but if you are a person who have a good intention with the funds for example for the creation of assets you can now easily manage to take back those loans as cashflows this serves you easily to pay with the use of the assets you made those are the one who pays with your loans. Use this mindset to prevent yourself being greedy with the tons of wants you want to have.

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Quote from: wxa7115 on July 07, 2023, 11:28:14 PM

Quote from: Viscore on July 07, 2023, 03:41:49 PM

Taking loans is actually a good thing if you do it for your own business progress and extension. Even rich men are doing that and made them wealthier in the society. However, if you become dependent from taking a loan and even include that in your budget, then you will never easily get out from that situation. Instead, it will make your life harder to live due to high interest and monthly amortization, which means all your hard-earned income will only be used to pay for it and leave nothing in your pocket. So you take another loan again, and that cycle will only continue as long as you don’t manage your finances well.

What happens is that the rich know how to use such a financial tool while the rest of the population does not, asking for a loan for a productive activity or for an asset that reevaluates in value over the years for a low interest rate is a good decision.

But the majority of the loans given today are consumer loans, loans which are given to buy stuff that people want but that they do not need, and such kind of loans are terrible as you end up paying for the same product several times over and you only make the bankers richer while you make yourself poorer.

Of course, and I'm sure there are very many rich people who develop their business using borrowed money, but if the business is already running and the prospects are good, then it will be very profitable because in business you need big capital to be able to get big profits too.

And the bad impact when making a loan is for people who cannot use the loan money productively, of course it is a very big loss when we have to pay interest to other people without being able to get any benefit from the loan money.

wxa7115

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Quote from: Viscore on July 07, 2023, 03:41:49 PM

Taking loans is actually a good thing if you do it for your own business progress and extension. Even rich men are doing that and made them wealthier in the society. However, if you become dependent from taking a loan and even include that in your budget, then you will never easily get out from that situation. Instead, it will make your life harder to live due to high interest and monthly amortization, which means all your hard-earned income will only be used to pay for it and leave nothing in your pocket. So you take another loan again, and that cycle will only continue as long as you don’t manage your finances well.

What happens is that the rich know how to use such a financial tool while the rest of the population does not, asking for a loan for a productive activity or for an asset that reevaluates in value over the years for a low interest rate is a good decision.

But the majority of the loans given today are consumer loans, loans which are given to buy stuff that people want but that they do not need, and such kind of loans are terrible as you end up paying for the same product several times over and you only make the bankers richer while you make yourself poorer.

Botnake

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Quote from: Webetcoins on July 03, 2023, 10:05:14 PM

Those online loan sharks are pretty dangerous and people really need to stay away from them. In my country, these online loan services provide loans to people who are in need of money by advertising their services all around pretending they are doing a great thing and they don't ask for a lot of money, but the reality is different, they have very high-interest rates that keep increasing with a significant pace if you get late for the repayment.

Basically, one should avoid any kind of loan unless they are 100% sure that they can repay it on time, because if you can't repay the loan, you will be compelled to take another loan to pay the first one, and that series continues and you might end up getting in great trouble that you might not be able to come out from.

Having offline and online loans for long term will certainly bring no good in your life. Yes, you maybe benefiting at first and used the money according to your means, but when it’s time to repay it and suddenly your income has been going bad, then that’s the start of your problem. You will never pay your first loan without compelling yourself to apply for another loan. That cycle will keep on repeating until you find yourself not having anymore to earn or save. One thing that we should avoid doing while we can still manage our finances.

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Quote from: moneystery on June 30, 2023, 06:51:56 PM

maybe many people are taking loans online or offline for various urgent reasons, but keep in mind that the habit of making loans will only get you entangled with what is called eternal debt and the possibility of getting addicted to making loans online or offline

I live in a city where the rate of people making loans is quite high until yesterday I heard of a neighbor who was fighting with a debt collector because he was unable to pay but the debt collector belittled the borrower who was unable to pay

- 23-yr old techie dies by suicide due to alleged harassment by online loan recovery agents

There have been many articles written about the bad effects of making online or offline loans what happened in my country that have high interest;
- In Indonesia, ‘pay later’ services leave some drowning in debt
- Under presidential order, Indonesia is at war with online loan sharks

in several articles, there are other options that can be done to avoid what are called online or offline loans that have high interest,
- 8 Ways to Help Family Members in Financial Trouble
- How To Get Out of Debt

you can try to do that from now on before it's too late

Taking loans is actually a good thing if you do it for your own business progress and extension. Even rich men are doing that and made them wealthier in the society. However, if you become dependent from taking a loan and even include that in your budget, then you will never easily get out from that situation. Instead, it will make your life harder to live due to high interest and monthly amortization, which means all your hard-earned income will only be used to pay for it and leave nothing in your pocket. So you take another loan again, and that cycle will only continue as long as you don’t manage your finances well.

salad daging

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There are still many people who make loans even though it is an urgent situation but they never think about repayment. This is often ignored by them so that it will become a tension between the debt collector and the loan.
Now I see in the news that online loans are increasing for a reason that is easy to do and they are also only for their own interests without caring about other urgent needs, on the other hand erratic income causes loans to not be repaid because they cannot afford it so I think this is now a lot of problems.

As much as possible avoid loans if you still have income then use it as your needs even if it is small but if the management is good I think it will be enough for them, you can also add other income to cover the needs maybe the best way, but if you only rely on loans that are incapable of being above our income then it will become a habit for them.

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Quote from: moneystery on June 30, 2023, 06:51:56 PM

~
maybe many people are taking loans online or offline for various urgent reasons, but keep in mind that the habit of making loans will only get you entangled with what is called eternal debt and the possibility of getting addicted to making loans online or offline

Taking a proper loan from a bank is not a bad aspect but the issue here is the loan sharking apps that are lending out money when you are providing your identity card with very high interest rates. You need to be careful when you are taking loans from these online companies and the links you posted are about these online loan sharks who harass people when you delay on repayment.

ElmedoRator

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I would like to talk more about the positive in life, given the fact that we always see situations that can be said to be tragic in life, and possibly even for us. But have people ever wondered if my best friend is in such a situation, I think to myself that without my previous credit loans, I would no longer be able to spend in life and for sure i will starve because i don't have money, it gives me the motivation to try harder, not the problem that i am dependent on it. I have also seen stories of bankruptcy in business and more negative than suicide, but I think for a moment if their family really wants that to happen, let's continue to live to face difficulties and overcome difficulties going through it, not just seeing the problems around, doesn't give me opportunities.

southerngentuk

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Loans are always a knife. If you do not have a steady source of income, it is very dangerous because it is difficult to control being caught up in a loan that you do not have the money to repay. Although it is possible that many people rely on a loan to be able to start a job as well as create a new journey, But that is because they create a plan in advance and have calculated risks, whereas many people, I find, borrow money for no reason at all. Simply satisfy your desires, so don't try to borrow money without a really good reason, because otherwise that knife will ruin your life.

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Quote from: moneystery on June 30, 2023, 06:51:56 PM

maybe many people are taking loans online or offline for various urgent reasons, but keep in mind that the habit of making loans will only get you entangled with what is called eternal debt and the possibility of getting addicted to making loans online or offline
...

I can feel it personally, when I receive a lot of credit account opening notices from different banks in my locality, even the outside lending services are very willing to lend just have some personal documents. Although I admit this is a good opportunity for us to try to get through the difficult times in life, it is clear that when we are stuck, it is not as comfortable as the burden in life, as the cases OP mentioned about suicide I can understand the reason for deadlock in life. So from the very beginning if we are all aware and well understood about loans, and responsible for the behaviors we create and how to handle things for life.

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Quote from: moneystery on June 30, 2023, 06:51:56 PM

There have been many articles written about the bad effects of making online or offline loans what happened in my country that have high interest;
- In Indonesia, ‘pay later’ services leave some drowning in debt
- Under presidential order, Indonesia is at war with online loan sharks

Indeed, the code is already like that. If you look at the core of the problem, it's not the borrowers who can't repay what they borrowed, but the increasing needs and prices of basic commodities, oil and other things that are constraining them. so, there must be a lot of people who are in arrears. Even though there are terms, why apply for a loan if you can't afford it.

coinerer

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Loan is loan It doesn't matter whether offline or online. Loans are bad for those who do not know how to use them properly, but loans are not bad for those who know how to use them properly. A negative aspect of the loan is that it has to be repaid with interest during the loaned money which becomes a lot of stress for someone who is financially weak. But for someone who is financially strong, paying back the loan with interest is not a big problem. So it cannot be said that loans are bad for everyone

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Quote from: moneystery on June 30, 2023, 06:51:56 PM

maybe many people are taking loans online or offline for various urgent reasons, but keep in mind that the habit of making loans will only get you entangled with what is called eternal debt and the possibility of getting addicted to making loans online or offline

I live in a city where the rate of people making loans is quite high until yesterday I heard of a neighbor who was fighting with a debt collector because he was unable to pay but the debt collector belittled the borrower who was unable to pay

The problem is that loans weren't created for this, it wasn't created so that you can take luxury vacations, buy expensive bags and cars and phones etc etc, it wasn't created to fund your life. It was created so that banks would make more money, how does that happen?

They give you 100 bucks and get back 105 bucks, and that extra 5% is the way they make money. Logic stands that if we do not print money, and total is 1000 dollars ever printed, if you give all 1000 as a loan, then there needs to be 1050 paid back, but we only have 1000 printed? So where does the other 50 come from? It doesn't, we either print more money which we are doing, or banks take what you have as a response, and they own the world this way small by small, slowly but gradually.

GeorgeJohn

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Sometimes loan have it advantages and also a disadvantages, I believe that a loan is what makes some people to achieve success in their business and their trading, and the disadvantages of a loan is something I seen that its higher than the advantages indecencie that the advantages can yield profits or propagate to a certain level, I believe that both offline loan and online is a bother to the recipient because if things fails to work out according to expectations, so therefore it's not encouraging to lend money to start any business when you have not know or scrutinised the business

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Quote from: Finestream on July 04, 2023, 04:40:15 PM

In the end, debt addiction will here to stay if you allow it to yourself. Even if we say our current culture has encouraged us to take loans, but we know in everything we always have to make choices. And if your choice is to continue taking loans, then expect that you will continue paying its consequences.

Yeah, we are still the ones to decide and control ourselves if we're going to take loans. Even if the government pushing people to take loans, that's a trap and you know it for yourself and just don't take it when you don't need it. And even if you need it but you know that you're not able and there's the consequence that you may experience later on, just choose what's ease for you.

Quote from: Finestream on July 04, 2023, 04:40:15 PM

However, there are always methods or course of action to get rid of loans. By simply managing your expenses and avoid luxuries that are unnecessary in your life, then you can start saving for yourself so you can minimize from taking loans.

Live frugally. This is going to help you out with what you just need in your day to day living, I agree that living luxury will push you to your limits because you're living to impress others and that's the second thing to avoid, don't try to impress other people and don't get their approval with things that you're doing in life. If you're living simply then that's the best way to live out without waiting for others to tell if you're doing it right or wrong if you're seeing it very well effective and you're not having any troubles living it.

Topic: Bad impact when You carry out Online or Offline Loans on an ongoing basis - page 5. (Read 1136 times)