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.
Well you should take a loan and pay it back on time or early.
Loans and taking the proper amount of them is fine.
I had a 30 year mortgage in 1992 I paid it by 1999.
I have borrowed over 200,000 on credit cards since 1986 I have paid a total of 25 -50 in interest and earned over 4,000 in bonus points.
So that is proper management of loans. Are they addicting for me no.
Do I lose money doing this no.
I have well manage good credit
see image below.
I could get that card and have 12 months to pay it back no interest.
At the moment I am not buying gear so I won't use this offer.
I have been doing these offers since I started my ebay business in 2003.