Topic: It's not smart to borrow funds and Pay back - page 3. (Read 1529 times)

Taking a loan is not a smart way to start a business because you will pay interest and i am sure that the profit from your business will go to interest and not on your pocket, i suggest to borrow to your family if they have extra money without interest and make a business you can only fo it if you have a supportive family, loan is a business and if you take a loan then you are one of a millions, that gives profit to the owner of that loan business.

What are you trying to say that is Good to loan money and don't bother to pay back? Honestly that's not a Smart move just so you know and it'll just keep you in debt and give you a bad name.and you're saying one is fool taking a loan and paying back..

I know you're saying this cause of the high interest rates and all that but that's not how it's suppose to be,you ought to pay back cause not doing so Will disorganize the person's business and plans
To loan or borrow funds is one and payback is usually the problem so it shouldn't seem like it's one's right now to pay back when owing such money,think about it in the other form that it's from you they borrow from and don't pay back how would you feel.

That's absolutely right and I also think that no party gives loans with the possibility of not being returned or without collateral, such as loans to banks all use collateral and we will even lose more if we don't pay it because the collateral we provide will of course be greater than the loan we apply for.

Currently, there are quite a lot of middle and lower class people who use loans unproductively, I think those are stupid and unintelligent people.
Loans should be able to make business easier so that we won't mind paying them later, not the other way around, this is the mindset of many unsuccessful people today who make their lives more difficult with the loans they take.

Someone will not be able to run away from paying a bank loan because the borrower's identity has been recorded and reported to the police, unless they lend money to someone without proof of the loan then they may be able to avoid paying the loan back because they think there is no supporting evidence to make a report to the police . However, never have bad intentions of not paying the loan back even if you borrow money from a friend without proof of receipt or other evidence, this will trigger criminal action if the borrower's emotions cannot be controlled because you insist on not paying the loan.

I don’t understand very well but with what I’m reading, is it that you are encouraging people to not pay the money back after taking a loan from banks or what did you mean, if that is what you mean I don’t think you should said that because that is not a good idea, it sounds like a fraud and no matter how you think you are smart you will get into the hands of those who are smarter than you, taking a loan to start a business itself is a risk because to me when you take a loan to start up a business you won’t have a rest of mind to build up your business, all you will be thinking is about what you borrowed and going to pay back.

Taking a loan to start a business is like taking something that doesn’t belong to you to achieve your aims and that is why some people's businesses will not be successful in the end, although some people are very good in business and even when they take a loan they have the way to pay the loan back but some people who don’t know will have to struggle to the extent of the business will want to collapse before they pay, I think taking a loan and paid it out immediately is the pay way to build yourself and thinking if not paying is life stealing what does not belong to you because there is an agreement before the loan is being given to you.

How would you feel if you borrowed someone money and they don't pay back put yourself in that position then answer the question, I'm sure you won't accept it from anyone. These people lending out money have their businesses going on they need those monies that they borrowed out , planning not to pay back is very absurd. If you have the intention of not paying back then you don't need that loan, you can just wait patiently for the money you need instead of borrowing money and not refunding

I can't say this is the most funny joke I have seen, but it's in the top 10. Only fools take loans without a plan of how to pay it back, and when a fool does that he is digging his whole full of problems. How deep the hole will be directly depends on the amount of the loan.

I have many loans behind me, both from banks and from close people, all of which have been repaid nicely and on time. I just couldn't finish very important things without enough money at that moment. Loans are a smart thing if they are used for something good and smart. There are loans with very good terms, but there are also loans with really high interest rates that should be avoided.

Do you think the loan has no right to be returned and what kind of loan are you talking about that you dare to say only fools take loans and pay them back. More precisely you are saying the loan is in an unproductive form so that the decision to take the loan is not to develop something more useful for a greater return of money. Understanding loans must be seen from the extent to which someone can develop not spend because most people take loans not for the need to develop a business but to fulfill a lifestyle.

This is the wrong behavior and why poor people remain poor because they think of taking loans to fulfill a lifestyle. While rich people take loans to develop the business they run so that it becomes more developed. This mindset is what causes loans to be negative so that people are unable to see the suitability and need in interpreting a loan.

This is the most funny joke I have ever seen and it is quite surprising to know that their are people that don't even care anymore about loan. It seems you have a string heart when it comes to taking loan and it is quite shocking. I have seen people going to jail because of how hefty the loan they took and they don't wanna pay it back. Although this is not common in most places but I don't think you will be able to get additional loan when you can not settled your previous loan. The bank can come for you and take what belongs to you even though you decided to buy properties in the name of someone else. What if the contrary happens and the person take away your properties due to the same greed.

Don't do that, you're trying to push yourself away from the incentives and consideration from these banks. You don't know that they're all interrelated and interconnected when it comes to database. Our names can be seen by each of them and records are visible to their naked eyes upon checking the system for the banks and loans. If you think that the other banks won't see you have a credit/loan and you didn't pay it back, it's your end because they know our records and they will know it no matter what. You don't ask to do that for yourself but if you like giving yourself a bad credit and bad reputation, that's all you have to do and you have to thank OP for that.

The things is, that is not your money. It is the money of other people who has entrusted their money with the banks. That is where the banks get their ability to give out loans so you do indeed need to pay it back.
I agree that you should use loans for the greater good but suggesting fraud is not for the greater good. I don’t get this mindset. You will just face criminal charges for this.

Of course you would really be needing up to pay the loan if you dont really want to put yourself on such big trouble on which we know that when you do took up some loan
then you would really be that obliged or responsible on paying it back and since on the time that you would really be borrowing then you are really that signing some contract.
If you wont really be liking to have those legal issues or problems then you wont really be making yourself putting up on trouble on not to pay those loans.
It would really be just that something having no sense that you would really be telling someone on taking up some loan and not paying it? LOOL @OP.

For some people, things like this may be a little strange. but I have also encountered practices like this among several of my acquaintances. Where they make a loan to the bank and initially they pay installments regularly to build their good name in the bank and then they pay it off and then they apply for a much larger loan again. And continue to do so for several rotation cycles. And when the bank begins to place greater trust, the customer borrows again for a much larger amount, even exceeding the price of the goods used as collateral to the bank. And the bank has already put their trust in it and they have approved the loan. And yes, then the customer didn't pay this time and they let the bank confiscate the assets used as collateral. And the customer goes with the money they earn and buys better goods. Be it a house or something. And usually what is used as collateral is the house certificate. And I think this is not a good thing to do. And I think it should be avoided. And it would be better to be a person who lives freely without having to have loans. And even if we have a loan, we must have a sense of responsibility and pay it off as quickly as we can. And after that we have to avoid all things related to loans.

Maybe if there is someone who borrows money and has to pay the debt, maybe the term loser is not right, and maybe the method used to pay is not right, because at the end of the day, he will still pay the loan that was borrowed. 

He must have fully paid the previous debt to another person, and the one that will be paid is the debt that was paid. So it means that he has accomplished a debt payment, but literally speaking, the method of payment is not really good; that's the only reason I can see; there is no other reason.

So, you really mean it when you say that we shouldn't pay our loans? Dang. I thought you are only going to say that we shouldn't pay immediately but that made sense. We may not like it but there might still be people who are doing it and I think their main reason is that they are only worried and maybe if they won't do it, they can only use the money in other non-important things.

Another reason would be is that they can borrow a larger amount once they fully paid their current loans. After all, this is fine than defaulting a loan. It won't be called as borrowing if we won't return the money that we borrow.

There are people who thinks that it's only okay if they do that but they shouldn't be confident especially if the money that they have borrowed is huge, as the issuer of money can sue them. If I understand, I think another one that you are saying is to borrow money and use it to pay back another loan. Well, I can agree with you to this, that it was a foolish move. It is like we are only going to get stuck in a loop with this. As for the banks, it is said that they don't print money out of thin air but even if they do, I still don't think that they will give you free money just like that.

You are getting it all wrong, if an ordinary bank can print money that means nobody would have been poor, however when we talk about the money you see on the banks is actually own by normal individuals like us who have worked very had and decided to store there money in the bank and secondly don't feel that all the banks are own by the government because there are so many banks own by private sectors and they built it through there labour so there is no way you will expect that kind of bank to print money, so actually if you get a loan and refuses to pay of course you will have to face the law and possibly jailed for that. However there is no way a bank will even give you a huge loan without collateral because they will make sure you give them something worth more the amount you borrowed so after then is your choice to pay not, whichever way is a win win for them.

That's absolutely right, we will even experience a much greater loss if we do not pay the obligations as set by the borrower at the time of the initial agreement. Actually, we have to be observant before choosing to take a loan and also have to have a long-term calculation to be able to turn the money around so that it is not constrained to be able to return it, so I think in terms of taking a loan from a bank we must be able to use it well so that we can return it.

When someone borrows money from a bank, of course they must provide collateral so that the money they want to lend is given by the bank and it is very unlikely that the bank will simply provide funds to someone who wants to take out a loan without any collateral and there are also many requirements that must be met before they can take out a loan from the bank and if they have fulfilled all the requirements given by the bank and they get the loan, of course they must be able to pay the installments properly and if they choose not to pay off their loan installments, of course the bank will auction off the collateral they gave to the bank and it is very unlikely not to pay it and if they still choose not to pay it, of course this will be very detrimental to us because the bank of course issues the loan amount below the collateral that we have given them and if we choose not to pay it, of course this will be detrimental to ourselves.

Do you think it is so easy to get a loan without any conditions again and again? It is not so easy if you have not done this before then you don't know about it otherwise you don't know about it. They say it is very difficult to get a loan from the banks and even if the banks give a loan, they charge interest on top of that and I don't think you should do anything by taking a loan that you don't see the possibility of a definite profit.

The first thing is that I am not in favor of taking loans because I don't think we can do any business by taking loans because there is no business in which there is only profit and in business, there are chances of loss. Even if we start any work, it cannot be said with certainty that we will profit from it.

The second thing is that if your request is accepted, then you don't have to repay the loan as much as you have taken, you have to pay interest on top of it, and if you understand that only from one bank. It is not possible to take a loan and take a loan from another person and not pay it back and continue your business.

Banks print money out of thin air is a statement I don’t believe in and shouldn’t be preached. You’re just encouraging stealing and anyone that follows your advise will be doomed. Did you work for the money that you want to take loan from and don’t you know that the money you borrowed is the hard work of other people that they kept safe there in the bank for people like you to use for business and bring the profits back. Those are the smarter people, so better work yourself out and become someone like them whom money work for and not them working for the money physically.


OP, you’re just trying to mislead people into doing what will not be beneficial for them. If you’re doing this and it’s working for you, please don’t drag more people into it. What you’re doing is illegal and when the law catch up with you, you’ll be dealt with. Your time, effort and money could be spared for now but the longevity of you getting out of it is not something that’s for sure certain, they’ll catch up with anyone doing such sooner.