Is taking a loan/debt addicted ? - page 7.

Furious 7

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Quote from: wmaurik on March 30, 2023, 02:11:04 PM

Quote from: irsykes on March 27, 2023, 05:10:53 PM

if your friend has a job it's still not a problem, if your friend doesn't have a job it might be a problem. because there is no monthly income to repay the debt, if otherwise you cannot repay the loan maybe your friend will be terrorized by the bank to pay off immediately. I prefer to live without a bank, which is risky and calm

What you say is exactly right, because I also prefer to live quietly without being burdened by the bank or any application party in terms of debt. Maybe for some people this kind of thing is really fun, but for me personally that kind of thing really weighs me down in life because I prefer to live freely without any debt with any party.

As long as we can afford not to do that (indebtedness) then why are we doing it because indeed, as you say, this will only make things difficult for ourselves.
Looking for debt that we really don't need is the same as making our life more difficult because what are we in debt for if we can still support ourselves and our families.
It's just a matter of actual determination, I think, because sometimes borrowing only starts with desire, even though it's something that can be said to be not very useful at all if we are not pressed for life and can still live without debt.

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Quote from: xSkylarx on March 28, 2023, 11:12:14 AM

Quote from: Ebede on March 27, 2023, 05:23:55 PM

From my own understanding nobody intentionally get loan from any angle but I understand that why people get loan or have low because of problem they are into and that causes death to them if they are not able to meet up the target of refunding the loan it have course adept them so nobody have it in mind to be having no from any other person except problem Hai

Nah, I've seen people mostly boasting in social media about buying those recent versions of the Iphone, which they are proud of. They can buy those, but in the later part, someone will say it is an installment. I am not against those people as they can repay it, and I am not the one paying it, but the point is that it is a waste of money to spend it on your wants unless you bought it for vlogging purposes that you are already earning from it or for photography. But again, it is not my choice, so let them be.

The purpose of buying an iPhone is to flash and take good photography. It is a trend of this time. But yes social media is now a big source of earning. It is possible to earn a good income by creating content and monetizing your account. So buying a good phone at a high price is not a bad thing in this case. I dabble a lot on Bitcoin and am quite active on this forum, but I use a Fluxip phone for that as well. But it doesn't matter because I am doing a lot of work with this phone which is helping me to earn

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Quote from: Cryptock on March 26, 2023, 01:23:29 PM

Quote from: Hamza2424 on March 20, 2023, 04:32:40 PM

Yes, I think so because taking loans makes you lazy as you know you work at a place and you get paid a specific amount and you have finished your current savings on some useless stuff and now you are interested in taking a loan and then paying back on the Monthly salary this is not a good habit. Avoid the conform zone for some years if you want to really live like a king. Bear some hard times if you pass it then you can save a lot of money which will help to establish a better future. Say no to Intrest

many people who take loan from the bank invest and earn good profit on it.
These are the smart and talented people - on the other hand there are people who are addicted of getting loan from the people and they never pay back - they are the losers and lazy people as you mentioned

Don’t underestimate the financial system and financial loop holes. They can flush back really hard if not managed properly. Managing the funds which are taken on the loans is not easy job. The main reason is you are tied with bank officially, your profile and social security number gets linked to every financial move that you make. Every time you miss an EMI or bounce any you can get punished in the form of bad CIBIL score. This in turn can make your defaulter and won’t be good in future perspective. So whether talented or not, one should not underestimate the financial frauds in the long run. Yes peeps do it, they take loans on low interest rate and spare them to other higher but once peeps start failing to repay it creates cascade of events making it hard to recover yourself. So be careful when it comes to managing funds.

wmaurik

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Quote from: 19Nov16 on March 27, 2023, 10:43:39 AM

Taking a loan is fun, we can easily take a loan, especially now that there are many online applications that offer large amounts of unsecured loans, I have friends who like to borrow in applications, even though the interest is high.

As long as your friend has no problems in terms of returning it, of course it will always be fun for him to continue taking loans. But the problem here is when a person cannot pay off his loan when it is due, because now it has become very easy when there are many online applications for borrowing money. But there are still some people who just like to take loans, but it's hard to pay them off, so it's highly recommended for those who still have trouble paying them not to take loans from any party if they still want to live a more enjoyable life.

Quote from: irsykes on March 27, 2023, 05:10:53 PM

if your friend has a job it's still not a problem, if your friend doesn't have a job it might be a problem. because there is no monthly income to repay the debt, if otherwise you cannot repay the loan maybe your friend will be terrorized by the bank to pay off immediately. I prefer to live without a bank, which is risky and calm

What you say is exactly right, because I also prefer to live quietly without being burdened by the bank or any application party in terms of debt. Maybe for some people this kind of thing is really fun, but for me personally that kind of thing really weighs me down in life because I prefer to live freely without any debt with any party.

xSkylarx

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Quote from: Ebede on March 27, 2023, 05:23:55 PM

From my own understanding nobody intentionally get loan from any angle but I understand that why people get loan or have low because of problem they are into and that causes death to them if they are not able to meet up the target of refunding the loan it have course adept them so nobody have it in mind to be having no from any other person except problem Hai

Nah, I've seen people mostly boasting in social media about buying those recent versions of the Iphone, which they are proud of. They can buy those, but in the later part, someone will say it is an installment. I am not against those people as they can repay it, and I am not the one paying it, but the point is that it is a waste of money to spend it on your wants unless you bought it for vlogging purposes that you are already earning from it or for photography. But again, it is not my choice, so let them be.

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Quote from: Marcellin9 on February 01, 2023, 02:27:35 AM

Well, I have to clarify that personally I have never had any loan or debt in my life so this thread has nothing to do with my experience but intends to find out how people in loan/debt deal with the problem. Let's say you take loans from a bank and sometimes for whatever reason, you can not pay the debt on time, then you borrow money from other channels. Sure this works for a certain period but later bad things may happen, you have to postpone the payment and struggle with finances again. Isn't this a vicious circle ? How would you deal with the problem ? I am all ears.

But when you take out a loan, make sure it's being used for something meaningful. Also if you take out a loan, make sure you borrow an amount that you can afford to pay back at the appointed time, don't lend an amount that you can't repay, so you won't just take a loan from somewhere else. to pay back a loan you borrowed and you haven't paid back. If you continue to take out loans, wherever you borrow money from, it will definitely add up to their own interest.

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Quote from: JayTrain on March 27, 2023, 12:15:10 PM

Dealing with debt can be a challenging and stressful experience, especially when it becomes a vicious circle. It's important to address the problem as soon as possible by communicating with the lender and exploring different options such as restructuring the loan or seeking assistance from credit counseling services. It's also important to develop a budget and prioritize expenses to ensure timely payments and avoid accruing additional debt. Seeking support from family and friends can also be helpful during difficult times. Ultimately, the key is to stay proactive, stay focused on the end goal of becoming debt-free, and seek help when needed.

Once a person's debt problem becomes a vicious circle, seeking support from family and/or friends will be causing more trouble because usually family/friends already know that you are unable to pay the loans off and if they lend you money, chances are that the money won't be paid back and your relationships will be greatly affected by the money issue. Believe me, this is not fun. From my point of view, the best way to avoid debt/loan is to never initiate a loan. Always live within your means and try to be financially independent as soon as possible.

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Quote from: soramon on March 27, 2023, 08:27:21 AM

My brother working at bank. He said if you have any debt make sure you pay it or never pay it late. The bank will black list your name so you probably hard to get another loan. For some people loan can be addicted i know some of my friends like to take a loan for something useless.

And taking a loan can actually affect the borrower psychologically. sometimes those who have a lot of debt in their lives become restless. they find it difficult to find peace in their minds. they are constantly being chased with installment deadlines that they must always pay without being late. so they constantly feel uneasy. but those who have debt also sometimes work harder because they always say they want to pay it off as soon as possible. many even say that they are tired and don't want to take out a loan again in the future. but when the loan had been successfully paid off they turned out to have changed their mind. and they really seem addicted and take loans back.

Ebede

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From my own understanding nobody intentionally get loan from any angle but I understand that why people get loan or have low because of problem they are into and that causes death to them if they are not able to meet up the target of refunding the loan it have course adept them so nobody have it in mind to be having no from any other person except problem Hai

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Quote from: Cryptock on March 26, 2023, 01:23:29 PM

Quote from: Hamza2424 on March 20, 2023, 04:32:40 PM

Yes, I think so because taking loans makes you lazy as you know you work at a place and you get paid a specific amount and you have finished your current savings on some useless stuff and now you are interested in taking a loan and then paying back on the Monthly salary this is not a good habit. Avoid the conform zone for some years if you want to really live like a king. Bear some hard times if you pass it then you can save a lot of money which will help to establish a better future. Say no to Intrest

many people who take loan from the bank invest and earn good profit on it.
These are the smart and talented people - on the other hand there are people who are addicted of getting loan from the people and they never pay back - they are the losers and lazy people as you mentioned

Exactly, I guess it depends on the people who take the loan. Loan has its good benefit specially if you are smart enough to maximize it, just for example you want to start a business and you dont have capital to use, you can loan to start it, which may lead to something big if it become successful. On the counterpart of it, there are also people that I know who get loan just to buy their wants or to travel. Its not bad to be honest but I just dont see it as a profitable action cause its only satisfy you for a short period of time.

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Quote from: 19Nov16 on March 27, 2023, 10:43:39 AM

Taking a loan is fun, we can easily take a loan, especially now that there are many online applications that offer large amounts of unsecured loans, I have friends who like to borrow in applications, even though the interest is high.

if your friend has a job it's still not a problem, if your friend doesn't have a job it might be a problem. because there is no monthly income to repay the debt, if otherwise you cannot repay the loan maybe your friend will be terrorized by the bank to pay off immediately. I prefer to live without a bank, which is risky and calm

letteredhub

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Quote from: Marcellin9 on February 01, 2023, 02:27:35 AM

Well, I have to clarify that personally I have never had any loan or debt in my life so this thread has nothing to do with my experience but intends to find out how people in loan/debt deal with the problem. Let's say you take loans from a bank and sometimes for whatever reason, you can not pay the debt on time, then you borrow money from other channels. Sure this works for a certain period but later bad things may happen, you have to postpone the payment and struggle with finances again. Isn't this a vicious circle ? How would you deal with the problem ? I am all ears.

There are levels to the habit of taking loans. Some may take it to meet up and complete a project that would eventually brings a profitable ROI that would be use as source to repay the loan in due time, while others just find it normal to taking loans at every little financial issues that necessarily doesn't demand taking loans to solve it only to end up taking another loan elsewhere to repay for the previous and gets addictive that they end up using their valuables as collateral and this is very bad

If you don't have the money to meet up a pressing demand, project especially for one that ROI is not sure , it's best to hold on look for other avenue to work your ass to earn money within the short or long period to layer meet up with such project or demand instead of putting oneself in unending chain loans.

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Dealing with debt can be a challenging and stressful experience, especially when it becomes a vicious circle. It's important to address the problem as soon as possible by communicating with the lender and exploring different options such as restructuring the loan or seeking assistance from credit counseling services. It's also important to develop a budget and prioritize expenses to ensure timely payments and avoid accruing additional debt. Seeking support from family and friends can also be helpful during difficult times. Ultimately, the key is to stay proactive, stay focused on the end goal of becoming debt-free, and seek help when needed.

19Nov16

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Taking a loan is fun, we can easily take a loan, especially now that there are many online applications that offer large amounts of unsecured loans, I have friends who like to borrow in applications, even though the interest is high.

soramon

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My brother working at bank. He said if you have any debt make sure you pay it or never pay it late. The bank will black list your name so you probably hard to get another loan. For some people loan can be addicted i know some of my friends like to take a loan for something useless.

jokers10

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Quote from: Cryptock on March 26, 2023, 01:23:29 PM

many people who take loan from the bank invest and earn good profit on it.
These are the smart and talented people - on the other hand there are people who are addicted of getting loan from the people and they never pay back - they are the losers and lazy people as you mentioned

It is a survival bias: if someone succeeded in a risky enterprise it doesn't mean that everyone can do the same without any risk. We know stories when someone fell from airplane and survived but this is still statistically very uncommon. Some people can earn on investing even using borrowed but it will hardly work for majority. As i won't recommend anyone a gambling as a way of earning I will never suggest anyone take a loan for investing. If you lose what you have it is frustrating already and if you lose for what you have to pay for years it hurts much more.

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Quote from: Hamza2424 on March 20, 2023, 04:32:40 PM

Yes, I think so because taking loans makes you lazy as you know you work at a place and you get paid a specific amount and you have finished your current savings on some useless stuff and now you are interested in taking a loan and then paying back on the Monthly salary this is not a good habit. Avoid the conform zone for some years if you want to really live like a king. Bear some hard times if you pass it then you can save a lot of money which will help to establish a better future. Say no to Intrest

many people who take loan from the bank invest and earn good profit on it.
These are the smart and talented people - on the other hand there are people who are addicted of getting loan from the people and they never pay back - they are the losers and lazy people as you mentioned

Hamza2424

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Yes, I think so because taking loans makes you lazy as you know you work at a place and you get paid a specific amount and you have finished your current savings on some useless stuff and now you are interested in taking a loan and then paying back on the Monthly salary this is not a good habit. Avoid the conform zone for some years if you want to really live like a king. Bear some hard times if you pass it then you can save a lot of money which will help to establish a better future. Say no to Intrest

Cryptock

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Quote from: Dragonfund on March 20, 2023, 12:02:21 PM

Quote from: Paul Pogba on March 19, 2023, 09:52:32 AM

I think the factor that makes people too easily in debt is a luxurious lifestyle, many people compete to show off their luxury on social media so that many people want to follow them, unfortunately most people do not have the ability to buy in cash so they rely on debt, and also nowadays it is increasingly easy to owe in the online application.

It is not about living luxurious lifestyle alone, anyone can live that lifestyle if they are comfortable but I think the main problem is they try to live to impress people, this is where the problem comes from. There are people that think they need validation from other peoples and their views and when you buy into all this society peer pressure, you will become broke and keep borrowing until you exceed your limit and after you look back into history of what you have used money for, they do not worth the time, it is better not live to impress people and avoid extravagant life.

Most of the people are addicted. And those who are addicted will keep searching for the people who will use them for their benefit.
There are people who are very bad in returning their loan.
And these are the people who are never trusted.

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Quote from: Paul Pogba on March 19, 2023, 09:52:32 AM

I think the factor that makes people too easily in debt is a luxurious lifestyle, many people compete to show off their luxury on social media so that many people want to follow them, unfortunately most people do not have the ability to buy in cash so they rely on debt, and also nowadays it is increasingly easy to owe in the online application.

It is not about living luxurious lifestyle alone, anyone can live that lifestyle if they are comfortable but I think the main problem is they try to live to impress people, this is where the problem comes from. There are people that think they need validation from other peoples and their views and when you buy into all this society peer pressure, you will become broke and keep borrowing until you exceed your limit and after you look back into history of what you have used money for, they do not worth the time, it is better not live to impress people and avoid extravagant life.

Topic: Is taking a loan/debt addicted ? - page 7. (Read 3064 times)